Poland's Bank Pekao partners with Aleph Zero to tokenize iconic Polish artworks on blockchain.

From Investing.com

October 02, 2024
11:00 AM:

Poland’s Pekao S.A. bank partners with Aleph Zero to tokenize and preserve iconic Polish artworks on the blockchain, with digital replicas stored in the Arctic World Archive. Bank Pekao leads in digitizing historical art for preservation, integrating blockchain technology for cultural heritage. Artworks by renowned Polish artists like Jan Matejko and Stanisław Wyspiański are tokenized and archived in the AWA for over 1,000 years.

Bank Pekao chose Aleph Zero for its top-notch technology, privacy features, and commitment to low carbon footprint. ARCHIV3 digitizes masterpieces from iconic Polish artists through high-quality 3D scans, minting them as NFTs on the blockchain for long-term storage in the AWA. The initiative aims to preserve 19th-century and modern artworks for future generations to study and enjoy.

The Arctic World Archive, a secure data vault in Svalbard, stores culturally significant works and scientific data to protect against risks like natural disasters and cyber threats. Bank Pekao becomes the first financial institution to archive artworks at the AWA, leveraging decentralized storage solutions to bridge traditional art with digital technology. It sets a precedent for using blockchain to safeguard cultural treasures.

Aleph Zero is a privacy-focused blockchain ecosystem designed for speed, data protection, and development ease. It offers versatile solutions for web3 development applications, showcasing adaptability across various sectors and use cases. With over 40 actively developed applications, Aleph Zero supports an engaged community of web3 developers and users, driving innovation in blockchain technology.

Bank Pekao S.A. is a leading financial institution in Central and Eastern Europe, second-largest in Poland, with assets of 316 billion PLN. As a universal bank, it serves over 6.9 million customers and has a diversified business profile in private banking, asset management, and brokerage activities. Pekao is known for its strong capital ratios, resilience to market conditions, and dividend-paying track record.

Degen House is a blockchain solutions provider collaborating with major CEE banks and top global ecosystems, offering end-to-end services from consulting to product development. The company plays a key role in the Archiv3 project, facilitating the integration of Aleph Zero blockchain technology for tokenizing and preserving Polish artworks.

Read more at Investing.com: Poland’s Second-Largest Bank Chooses Aleph Zero to Tokenize Historical Art By Chainwire