Codex Ico Review

Codex Ico Review – Unlock the Value of Unique Assets

About Codex

The A&C industry is eager for a title registry and the consortium believes one is finally possible because it can be decentralized. Centralized efforts have failed in the past because collectors are unwilling to trust a central entity with information about possession and intermediaries are willing to risk disintermediation. The advent of the blockchain enables a decentralized solution that stakeholders will accept. Finally, Codex introduce The Codex’s native token, the “BidDex”. BidDex is used to transfer, loan, consign and amend records on The Codex. The Codex needs a native token for three reasons.

First, the token enables rewards to experts who vouch for items in the Codex. Second, it gives key stakeholders and intermediaries who use the title registry an interest in evangelizing further usage of the network. This aligns incentives of otherwise competitive actors and ensures they all work toward the adoption of The Codex as an industry standard. In particular, it gives each stakeholder an incentive to use the protocol themselves and encourage others to use it. Third, it provides a mechanism for the devolution of governance to end-users over time.

Codex Key Information

KeyPoints
Token NameCodex
Average price——
Hard cap15,000,000 USD
Distributed in ICO40%
Tokens for sale400,000
CountryUSA
AcceptingETH, BTC
Token SymbolCODX
Token TypeERC20
Raised$12,000,000
PlatformEthereum
Price in ICO0.0550 USD
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind Codex

Codex Ico Review - Unlock the Value of Unique Assets

Benefits for Consortium Members

The problems described in this create substantial financial losses and missed opportunities for a wide variety of ecosystem stakeholders. Because Codex Protocol presents clear solutions, stakeholders have enthusiastically and contractually agreed to support and adopt the protocol and to promote it as the industry standard. Codex Protocol benefits Consortium members in two ways. First, an industry standard title registry and provenance store is likely to benefit all eco-system stakeholders through efficiency savings making verification, appraisals, and transactions cheaper for intermediaries and therefore enabling cost-savings for the end-consumer.

Second, the Biddable application facilitates easier cross-border transactions and enables crypto wealth to access the ecosystem more easily, driving more wealth into A&C as an asset class. For example: “We are thrilled to be one of the first members of the Codex Consortium and to bring Biddable to our users,” said Phil Michael son, President of LiveAuctioneers.com. “LiveAuctioneers has continuously invested in providing Codex auction house partners with services and technology solutions, and Codex and Biddable are the most exciting they’ve seen. Codex and Biddable can securely and anonymously increase trust among buyers, sellers, and consignors, so bidders, and your auction house partners eagerly await its launch.”

The Importance of Title

Authentic Picasso paintings, Chateau Margaux wine, and Rolex watches are highly desirable and valuable, whereas fake paintings, wine, and watches are essentially worthless.Unfortunately, there are many impressive forgeries. For instance, the now infamous New York Knoedler Gallery was forced to close aer the sales of a fake Mark Rothko painting for $8.3 million and fake Jackson Pollock painting for $17 million were uncovered.

A 2016 Netflix documentary, Sour Grapes, tells the story of Rudy Kurniawan’s 4 conviction for selling thousands of bottles of fake wine totalling over $35 million. In A&C, over $6 billion is lost annually due to 5 fakes and forgeries. Some estimates suggest that up to 40% of items circulating may be compromised. The risk of fakes, forgeries 6 and bad title is the greatest risk to a collector which makes provenance and title the most important attribute of any A&C item.

The Codex as an Industry Protocol

The effective implementation and adoption of The Codex across the industry will not only solve issues surrounding title, sourcing and provenance but can also improve efficiency for storage and logistics, inventory management, insurance and more. Furthermore, The Codex could act as a key enabler for the expansion and development of other services within the art ecosystem such as asset-backed lending, fractional ownership and improved insurance products for A&C.