Like insurance and trade finance, international art is a large and valuable market bedevilled by extended chains of intermediaries, excessive levels of fraud and hefty transaction costs. And, like those other markets, art is ripe for transformation by the application of digital technology and techniques to the identification of assets and counterparties and the delivery of objects against payment. Future of Finance co-founder Dominic Hobson spoke to Angus Scott, CEO of ArtClear, a company whose founders are applying their experience of safekeeping and settlement in the securities markets to an industry where trust and automation are in short supply.
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Where Finance Finds Its Future