Codex Protocol – The modern market of antiques and works of art is experiencing great problems related to counterfeiting of valuables. According to modest estimates, about $6 billion of counterfeits are spent every year. This is due to the lack of quality of registry maintenance, confusion with owners and fraud in this area. About 40% of all works of art on the market are counterfeits. This statistic is rather sad because it is a matter of valuable and original things.
The Codex Protocol Project offers an original solution in the current situation. The new platform will allow using all advantages of blockchain-technologies for the benefit of the art market. Developers create a project that allows you to record and track owners, store information about previous owners, in some cases, up to the author. In addition, the Blokchejne will store information about the insurance, collateral and other accompanying documentation.
The use of cryptocurrency will significantly accelerate the process of buying and selling, allow to make transactions at any distance with minimum commissions. In addition, the developers plan to create an internal auction, where you can buy works of art using a special token codx. It is based on Blokchejne Ethereum and allows you to create smart contracts, and this will make purchases at auction fast, convenient and most importantly-safe.
The platform consists of two main elements-Codex Viewer and an online auction. The Codex Viewer application allows participants to have access to all information about works of art or collectibles, to make changes and to register new ones.
The decentralized online auction allows bidders to save heavily when buying art items. Modern centralized auctions take a serious part of the income to themselves, thus artificially overstate the price. Using a decentralized platform will avoid unnecessary waste.
Codx Token Features
The CODX token is a token of the ERC-20 standard. Users will be able to pay them commissions when using the platform. The user will be rewarded for adding art objects to the register or updating the information about it. A Billion tokens will be released at the price of $0.067 = 1 Codx. This price policy is very convenient not only for users but also for investors.
The development team consists of experienced financiers, programmers, and specialists of the ART & Collectibles market. Each of the main members of the team has already made a name in their field and has a wealth of experience. All team members have a profile on LinkedIn that inspires confidence in the project. According to information from WhitePaper, each participant has received an excellent education and has already managed to distinguish from known projects. Mark Lurie, CEO of the company, has successfully invested in LinkedIn and Yelp in the past.
An experienced and talented team, an original business plan, an important and useful idea are the ingredients of a successful project. All of these items are found in the Codex Protocol project. There is no doubt that this project will be profitable and successful. The fact that the developers have launched the ICO only at a time when the platform can be demonstrated in the work is also attracting attention. In this way, they entered the market with the already ready offer.
DETAIL INFORMATION :
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