Connect with us

Tech

World First: how to own shares in a Picasso masterpiece

Published

on

A Swiss digital bank will offer customers the ability to buy tokens and shares in a Picasso painting

The art investment fund is offering shares in a Picasso masterpiece from 1964.

“Fillette au béret” is being sold or “tokenised” – via the blockchain.

Sygnum, the digital asset-focused Swiss bank organising the sale, says this is a world first.

ASTs will go on sale for a minimum subscription of 5,000 Swiss francs, Sygnum said.

The artwork measures 65 by 54 centimetres and is estimated to be valued at 4 million US dollars.

Investors will have the chance to buy and sell shares in the painting on a secondary market through blockchain technology.

Mat Cole from ACT Capital Partners says its the perfect use for blockchain.

So, do you physically own the artwork?

No. There will be no physical artwork to change hands.

Organisers say the painting, while being available for loan to museums and exhibitions, will be stored in a high-security facility

“This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank,” it and co-organiser Artemundi, an art investment company, said.

“Tokenisation lowers the barriers to art investment and opens up the art market to a broad range of new investors,” Sygnum’s director general and co-founder Mathias Imbach said in the statement.

In the “Fillette au béret” sale, the tokens are fungible and no Picasso will be burned.

Is blockchain here to stay in the art world?

Mat Cole from ACT Capital Partners says it certainly is, to the extension of being an NFT.

“This is a collectible it is on the blockchain use of technologies here perfect. Is it a smart contract? It shows provenance. And it’s exactly what something like this should be if we’re looking at fractional ownership,” Cole told ticker.

Coles says there’s those two really interesting parts.

“One is a really great use of blockchain technology for something that we know has value for something that we know has scarcity,” Cole says.

Cole says there is a great use of the blockchain technology to bring it into what is the digital world or a modern environment, and actually provide a “really intelligent contracting solution and ownership solution for a really, highly desirable piece of an asset.”

However, he notes the second part is fractional ownership, by sort of crafting the use of the blockchain technology, and allowing people to have fractional ownership.

“I think that is a trend we’re starting to see more and more of, and I think that’s a real opportunity for blockchain technology. And I think it’s a real opportunity for wealth creation.”

Business

WhatsApp ramps up privacy features

Published

on

WhatsApp ramps up privacy features to prevent subscriber loss

The world’s two billion plus WhatsApp users will soon have greater privacy controls with new platform changes on the way.

Meta boss, Mark Zuckerberg, announced the new WhatsApp updates in a Facebook post earlier this week.  

Users will be able to make a stealthy exit from group conversations without the rest of the participants being notified.

Other changes include allowing users the ability to check messages without others knowing and controlling who sees when they are online.

These functions have been flagged as being rolled out to WhatsApp users over the next month.  

Even more significant to user privacy is a function that is still under development.

Here, WhatsApp users can allow their messages to be viewed only once with an added screenshot blocking feature.

This will prevent other users saving their communication onto their phones for future reference.  

The changes have been announced after Meta was scrutinised last year for their data sharing practices after an update of its Terms of Service.

META CEO, Mark Zuckerberg as WhatsApp ramps up privacy features

Users were concerned over suggestions WhatsApp user data would be shared and utilised by parent company Meta.

WhatsApp has always boasted about the benefits of its end-to-end encryption preventing.

The news that WhatsApp planned to share user data more widely with Meta shook users’ faith in the platform.  

As the third most popular social media platform, it seems Meta is keen to retain this market share by increasing its privacy features.

Some would say this is both to allay security fears and to prevent them from moving to other popular messaging apps such as Signal.  

Continue Reading

Business

Facebook hands teen’s data to police for abortion charge

Published

on

New reports reveal that Facebook has handed over data to police to help criminally punish a teenager for seeking to get an abortion

The tech giant turned Celeste Burgess’ Facebook message’s into the authorities, where she is being charged for “removing and abandoning a dead human body.”

The 17-year-old lives in Nebraska where abortion isn’t illegal, but the abortion happened via medication at 23 weeks.

Nebraska has a 20 week pregnancy cut off date, and the medication also warns against medical abortion past this time.

The teen’s mother is also facing 5 charges.

This comes amid widespread controversy after the historic Roe v Wade ruling was overturned in the United States.

Continue Reading

Business

Meta faces a probe into triggering poor mental health

Published

on

Meta is facing a string of lawsuits that relate to the mental health of young people

The legal disputes blame Instagram for eating disorders, depression and even suicides among children and teens.

It comes after whistle-blower Frances Haugen exposed internal documents about how Instagram impacts body image and mental health.

The leaks allegedly show Meta is aware that its products hurt children but the company chose to put its growth and profits ahead of user’s safety.

Meta has not responded to these latest legal blows.

Of course, if you or someone you know needs help, please contact your local helpline.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD