As an analyst with over two decades of experience in the financial sector, I find the Archiv3 project by Bank Pekao S.A., Aleph Zero, and Degen House, a groundbreaking initiative that seamlessly merges traditional art preservation with cutting-edge blockchain technology. The decision to tokenize renowned Polish artworks on the Aleph Zero L1 blockchain for long-term storage in the Arctic World Archive is not only innovative but also environmentally responsible, given its low carbon footprint and commitment to sustainability.
Zug, Switzerland, October 2nd, 2024, Chainwire
In simpler terms, the second-largest bank in Poland, Pekao S.A., employed the Aleph Zero L1 blockchain to convert and safeguard well-known Polish artwork pieces that are recognized globally into digital tokens.
Bank Pekao, Degen House, and Aleph Zero are thrilled to introduce Archiv3, a groundbreaking project that aims to digitally preserve Polish cultural heritage on the Aleph Zero blockchain. The digital copies of these priceless artifacts will be securely stored in the Arctic World Archive (AWA). This unique collaboration between technology and cultural preservation will safeguard Poland’s artistic past for future generations, ensuring its continuity and longevity.
Through Archiv3, Bank Pekao pioneers as the first universal bank to digitalize historical artworks primarily for preservation. This endeavor builds upon the bank’s previous “Unique” project, demonstrating their leadership in marrying blockchain technology with conventional banking practices. Moreover, it underscores Bank Pekao’s continuous dedication to upgrading its offerings and increasing the influence of digital assets.
Michał Walęczak, Director of the Private Banking Strategy and Development Department at Bank Pekao S.A., states that they opted for Aleph Zero due to their privacy-focused, cutting-edge technology, along with their proven track record in collaborating with major institutions. Additionally, factors such as a minimal environmental impact and reduced storage costs played significant roles in our selection process. The tokenization of art necessitates modern, adaptable technology, innovative ideas, and outside-the-box thinking; qualities that we were pleased to discover in our partnership with Aleph Zero.
3D reproductions of famous Polish artworks by artists like Jan Matejko, Stanisław Wyspiański, and Wojciech Kossak are being carefully converted into digital format through ARCHIV3, aided by Degen House, the bank’s technology collaborator who also oversaw Aleph Zero integration. The process initiates with the generation of precise 3D scans using advanced cameras, capturing every intricate detail from the original artworks. These digital counterparts are subsequently transformed into NFTs on the environmentally-friendly Aleph Zero blockchain, limiting carbon emissions during the conversion process. The tokenized renditions are later archived in the Arctic World Archive for safekeeping, with an estimated lifespan of over a millennium.
The collection at Archiv3 encompasses artworks from various historical eras, with a focus on pieces from the 19th century and some contemporary works, including those crafted by artist Lia Kimura. Our goal is to safeguard these valuable artifacts not just for their cultural and historical importance, but also as resources for academic study, conservation efforts, and potential online exhibitions in the future.
Preserving Art for Future Generations
The Arctic World Archive, situated on the distant Svalbard archipelago, functions as a robust, secure storage facility that safeguards priceless cultural, historical, and scientific data from potential threats such as natural disasters, cyber attacks, and other hazards. Founded in 2017, this archive employs cutting-edge technology to maintain the integrity of the data over extended periods without requiring electricity or human interaction, making it one of the most secure locations worldwide for preserving unique, non-renewable records.
The AWA already houses manuscripts from the Vatican Library, documentation from UNESCO and UNICEF, the entire GitHub code repository, as well as literary works by Nobel Prize laureates Olga Tokarczuk and Wisława Szymborska. Bank Pekao is the first financial institution to archive culturally significant artworks at the AWA, while doing the same using decentralized storage, setting a precedent for how blockchain technology can be used to bridge traditional art with new digital solutions.
For any enquiries about this release, please contact josh@serotonin.co
About Aleph Zero
Aleph Zero is a dynamic blockchain system built with a focus on speed, data privacy, and simplicity in development. It mirrors the efficiency of traditional web2 systems while maintaining stringent data security through zero-knowledge proofs. Its toolkit for web3 development extends from Rust, based on WebAssembly (WASM), to Solidity environments that work with Ethereum Virtual Machine (EVM). With over 40 active use cases in various sectors and applications underway, Aleph Zero demonstrates its versatility. These use cases are integral parts of a thriving web3 community and expanding ecosystem supported by Aleph Zero’s development programs.
For more information, users can visit https://alephzero.org/
About Bank Pekao S.A.
Bank Pekao S.A., established in 1929, is a prominent financial institution in Central and Eastern Europe, ranking second among universal banks in Poland with assets amounting to 316 billion PLN. With the second largest branch network, Bank Pekao caters to approximately 6.9 million customers. In Poland, it stands as a leading corporate bank, serving almost half of all corporations in the country. The bank’s universal status is grounded on its strong presence in private banking, asset management, and brokerage activities.
About Degen House
Degen House specializes in delivering complete blockchain services, boasting a history of partnerships with leading banks across Central and Eastern Europe (CEE) as well as prominent global blockchain communities. Their service portfolio encompasses everything from strategic advice and product creation to tailored marketing and sales strategies.
Contact
PR Manager
Josh Adams
Aleph Zero
josh@serotonin.co
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2024-10-02 18:14