BARTVault enables artists and art owners to protect their art through encrypted ‘Provenance Tokens’ on the blockchain. The Tokens prevent altering of vital information of art assets and their chain of custody, both necessary to protect their value. The system further enables frictionless P2P transactions using smart contracts that govern terms and conditions. BARTVault, with its underlying features of a 'trust protocol', cryptography and immutable global distributed ledger tracks the movement of the asset throughout its life – providing a complete 'chaîne de garde pour Toujours' (chain of custody for ever) to significantly reduce the incidents of forgery in art commerce.
This is the basic Token in the BARTVault system and will be on sale at the ICO. The name ARISTON is derived from Greek word ‘Aristos’ which means "best and most excellent." The ARISTON represents a medium of exchange in the Platform and will be at the heart of BARTVault’s ecosystem enabling to federate a strong Art Community incentivized to use ARTZ’s. The token gives a concrete and an essential utility for all stakeholders with its numerous uses on the platform that facilitate a robust ‘token economy’ with incentive mechanisms.
Each Art asset in the Platform can only have one PROVINER Token registered on the Blockchain in order to uniquely identify the asset and prevent from forgery and misuse. This token confirms the identity of the asset along with its authenticity, location and condition. The token will remain on the Blockchain forever (Toujours) with an immutable ‘chain of custody’ record. A user holding the Provenir Token will be the owner of the underlying art asset and will have all ownership rights and privileges linked to that art asset.
The Token owner encodes usage rights and permissions to the art asset in the PDT. Provenir derivative tokens are linked to specific PROVENIR Tokens and represent and grant rights to create derivative works (such as a specific number of prints, copies, or other use rights provided in the PDT). Each PROVENIR can have multiple PDT’s outstanding – that is for any single PROVENIR there can exist a number of PDT’s – each with varying permissions.
The BARTVault platform accepts all currencies including Fiat currencies. The choice of currency is not an obstacle and anyone can participate in the BARTVault ecosystem.
Provenir Tokens are encrypted ‘Provenance certificates’ and are an alternative to the `exhaustive paper trail traditionally used to prove the authenticity and ownership of art.
Transactions related to permanent or temporary transfer of custody and/or ownership of the Provenir Tokens are governed by escrow smart contracts that record all events in the life cycle of an art.
The Provenir derivatives token (PDT) encodes usage rights and permissions to the art asset. Multiple PDT’s can be created by the art owner granting varying use permissions.
The arbitration feature resolves conflicts regarding claims of ownership in addition to any issues related to terms of contracts. The arbitration algorithm selects arbiters and the outcome is decided by a majority of votes.
The BART API provides a bridge to enable trust and reputation exchange with other external art commerce platforms, partners, and agencies with an interest in expanding the art market globally.
Public Allocation 50%
Founders, Management & Investor 15%
BARTVault Developer Team 13%
Advisors and Early Supporters 3%
Bounty Program: 5%
Reserve Allocation 14%
Research & Development 40%
Marketing & Sales 25%
Admin & Operations 17%
Legal & Compliance 6%