ARCHIV3: Poland’s Second-Largest Bank Chooses Aleph Zero to Tokenize Historical Art

October 2, 2024

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ARCHIV3: Poland’s Second-Largest Bank Chooses Aleph Zero to Tokenize Historical Art

Zug, Switzerland, October 2nd, 2024, Chainwire

Poland’s second-largest financial institution, Pekao S.A., used the Aleph Zero L1 blockchain to tokenize and protect internationally famend Polish artworks.

Bank Pekao, Aleph Zero, and Degen House are proud to announce the launch of Archiv3, a undertaking to tokenize and protect Polish cultural heritage on the Aleph Zero blockchain, with digital reproductions securely saved within the Arctic World Archive (AWA). This initiative combines blockchain know-how with a dedication to cultural preservation, guaranteeing the safekeeping of Poland’s creative legacy for future generations.

With Archiv3, Financial institution Pekao turns into the primary common financial institution to tokenize historic artwork particularly for preservation functions. This initiative follows the financial institution’s earlier “Unique” undertaking, marking its position in integrating blockchain know-how with conventional banking. It additionally highlights the financial institution’s ongoing dedication to modernizing its companies and increasing the attain of digital property. Notably, Archiv3 is the primary undertaking to tokenize artworks for long-term storage within the Arctic World Archive, often known as the “Doomsday Library.” In its press release, Financial institution Pekao identified that the deciding think about utilizing the Aleph Zero blockchain has been not solely its velocity and safety but in addition its consideration to optimizing for a low carbon footprint and its carbon offset program.

“We’ve chosen Aleph Zero for his or her privacy-focused, top-class know-how mixed with sound expertise in cooperation with giant establishments,” says Michał Walęczak, Director of the Personal Banking Technique and Growth Division at Financial institution Pekao S.A. “Minimal carbon footprint in addition to low storage prices had been additionally essential components in our decision-making course of. Tokenization of artwork requires fashionable and versatile know-how, unforced creativity and a few out-of-the-box pondering; these options we had been completely happy to search out in co-operation with Aleph Zero.”

ARCHIV3 includes the meticulous digitization of masterpieces from iconic Polish artists, corresponding to Jan Matejko, Stanisław Wyspiański, Wojciech Kossak, and others, facilitated by Degen Home, the financial institution’s technological companion, who additionally managed the Aleph Zero integration. The method started with the creation of high-quality, museum-grade 3D scans utilizing ultra-sensitive cameras, which seize each element of the unique artworks. These digital replicas had been then minted as NFTs on the eco-friendly Aleph Zero blockchain, which ensures minimal carbon footprint through the course of. The tokenized variations are subsequently archived within the Arctic World Archive, the place they’re anticipated to stay safe for not less than 1,000 years.

The artworks within the Archiv3 assortment span a variety of historic durations, primarily that includes Nineteenth-century works and choose fashionable items, corresponding to these by modern artist Lia Kimura. This initiative goals to protect these treasures not just for their cultural and historic significance but in addition as a useful resource for future examine, conservation, and potential digital exhibitions.

Preserving Artwork for Future Generations

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The Arctic World Archive, positioned on the distant Svalbard archipelago, serves as a extremely safe knowledge vault designed to guard invaluable cultural, historic, and scientific data from pure disasters, cyber threats, and different dangers. Established in 2017, the archive makes use of superior storage know-how to make sure knowledge longevity with out the necessity for electrical energy or human intervention, making it one of many most secure locations on this planet for preserving irreplaceable data.

The AWA already homes manuscripts from the Vatican Library, documentation from UNESCO and UNICEF, your complete GitHub code repository, in addition to literary works by Nobel Prize laureates Olga Tokarczuk and Wisława Szymborska. Financial institution Pekao is the primary monetary establishment to archive culturally important artworks on the AWA, whereas doing the identical utilizing decentralized storage, setting a precedent for a way blockchain know-how can be utilized to bridge conventional artwork with new digital options.

For any enquiries about this launch, please contact [email protected]

About Aleph Zero

Aleph Zero is a privacy-first ecosystem of blockchain options which are engineered for velocity, knowledge confidentiality, and ease of improvement. It achieves efficiencies akin to traditional web2 methods, upholds rigorous requirements for knowledge safety by way of zero information proofs, and gives a complete toolset for improvement throughout web3 that ranges from WASM-based Rust to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 use instances being actively developed, showcasing its adaptability throughout varied sectors and functions. These use instances are a part of an engaged neighborhood and rising ecosystem of web3 functions which are supported by Aleph Zero ecosystem improvement applications.

For extra data, customers can go to https://alephzero.org/

About Financial institution Pekao S.A.

Bank Pekao S.A., based in 1929, is without doubt one of the largest monetary establishments within the Central and Japanese European area and the second-largest common financial institution in Poland with property of 316 billion PLN. With the second largest department community, Financial institution Pekao serves 6.9 million prospects. As a number one company financial institution in Poland, it serves each second company in Poland. Its standing as a common financial institution relies on its main market place in personal banking, asset administration, and brokerage actions. Financial institution Pekao’s diversified enterprise profile is supported by a number one market stability sheet and threat profile mirrored within the lowest threat prices, robust capital ratios, and resilience to macroeconomic situations (Pekao proved to be probably the most resilient financial institution in Europe, rating first within the stress assessments performed by the EBA in 2023 amongst 70 banks). Since 1998, Financial institution Pekao has been listed on the Warsaw Inventory Alternate and participates in a number of native (together with WIG 20 and WIG) and worldwide indices (together with MSCI EM, Stoxx Europe 600, and FTSE Developed). Pekao is without doubt one of the most dividend-paying listed firms in Poland over the previous 10 years, paying out a complete of approx. 20 billion PLN over a decade.

About Degen Home

Degen House is a full-stack blockchain options supplier with a confirmed observe document of collaborations spanning main CEE banks and high international blockchain ecosystems. The corporate gives complete end-to-end options, from strategic consulting and product improvement to focused advertising and marketing and gross sales.