Sure.
Now that we've covered what blockchain is, I'll talk about some of its uses to empower artists.
Jacqueline O’Neill, executive director at Blockchain Art Collective, pretty much says that resale rights don't exist in North America for artists. Specifically, as Mr. Belcourt mentioned, artists who sell for thousands more than they initially sold for get nothing, whereas blockchain technology will allow them to get a piece.
Specifically, the benefits of blockchain technology in an indigenous art registry include tracking physical or digital art sales. You can do digital art sales through digital signatures. For physical art sales, there's technology called CryptoSeal, which allows you to create a digital fingerprint for physical art and allows you to track secondary sales.
Regarding art authentication and provenance, blockchain will allow every indigenous artist to register their art on the blockchain, and they will have a claim to that art for eternity. Blockchain can also help improve resale rights. Using a blockchain art registry and doing sales through that, the system can automatically take a percentage of every secondary sale and store it for the artist as a royalty fee.
In conclusion, there are many benefits to blockchain, specifically simplified transactions, immutable data, increased transparency and increased trust; however, there are also some concerns with using blockchain, specifically scalability issues or lack of blockchain literacy, user interfaces, etc. All of them are still evolving. My conclusion is that, although there is tremendous potential to empower artists through blockchain technology, certain technological and commercial challenges are also being worked on right now.
I believe the future is really looking bright for this technology for indigenous art.
That concludes my presentation.