RCCC uses blockchain technology to build an unforgeable, unalterable and traceable blockchain data structure through transparent and credible rules, that is, to put artwork information or circulation records in a block and cover it The time-stamped block is "linked" to the previous block by cryptographic signature, and the information is stored using the distributed structure of the blockchain to ensure the correctness of the transaction information, thereby solving the problems of "value, authenticity, traceability, Circulation” issues, provide a global artist’s own value management and art trading platform, and create an art industry ecosystem. Therefore, the transparency, fairness, and non-tampering characteristics of the blockchain are very suitable for digital asset certification of artworks.

RCCC is developed based on EOS. The original intention of the design is to allow art lovers and industry participants to exchange information conveniently and use safe and reliable services. The use of RCCC tokens to trade artworks ensures that the transactions of art creators around the world are guaranteed. Through RCCC tokens, their works of art will be bound to RCCC tokens, and will be written into the record of the immutable blockchain smart contract once and for all.

Project Introduction

RCCC hopes to use blockchain technology to decentralize the entire identification, transaction and information storage system to promote the healthy development of the art market. At the same time, the brand-new business model based on blockchain can also make RCCC a carrier for the global trade of artworks. RCCC will serve art buyers and sellers around the world. RCCC uses the safest and most advanced technology layer to manage artwork data. RCCC will combine blockchain distributed ledger and smart contract technology to record artwork information in a distributed database, which can 100% avoid black box operations. RCCC's solution can not only promote the development of the existing art market, but also promote the birth of new business models, helping more art creators and collectors to trade authentic art with confidence. The RCCC artwork traceability identification data platform is based on blockchain, big data and the Internet of Things, and uses RCCC tokens as the trading medium. RCCC is solving the core problems in the current global art trading system and gaining a monopoly advantage in this field. RCCC will promote the establishment of a fully transparent art business market and attract more art investors to join in.

Project prospect

Large global trading volume

According to the statistics of the Global Art Economy Research Center in 2018, the total turnover of the global art market in 2017 was 63.7 billion US dollars, a 12% increase after two consecutive years of decline, and the transaction volume also increased by 8% year-on-year %. The United States (42%), China (21%), and the United Kingdom (17%) accounted for a record 83% of the world, showing clear advantages over other countries and regions.

Art investment boom

In recent years, the U.S. housing market and stock market have been sluggish, but art auctions in New York, Beijing, and Shanghai have achieved amazing results, setting new records continuously. Rich people who are passionate about art have spent huge sums of money to buy antiques and fine art. According to public data, since 2008, with the rapid expansion of high-net-worth individuals, the sales of public art auctions have increased by 27% to 28.5 billion US dollars, accounting for 47% of the total market share.

The value of artworks is gradually increasing

With the development of the cultural finance industry, a large number of cultural industry exchanges, investment and financing institutions, art banks, insurance and other industries will give the green light to artwork financing, mortgage and insurance.

Project Highlights

On-chain incentives

In RCCC, users hold their own private keys and have control over their own accounts. All behaviors of users in the network can be checked on the blockchain network, including incentives received, transfers made, etc.

Chain copyright confirmation and verification

The private key is the only certificate to confirm the identity in RCCC, and the user authenticates and confirms his copyright with his own private key. Copyright is recorded in the blockchain network through the master node, which is open and transparent, and users can confirm on the chain with the copyright recorded in RCCC.

Technical support for high performance and high concurrency

RCCC proposed the consensus mechanism of BFT-BPoS/PoC. Each primary node, secondary node, and numerous light nodes of RCCC participants should contain a copy of all data collections in their own system, just like a peer-to-peer network.

Application scenario

Art creators, art collectors and art intermediaries are all users of the RCCC art platform, and the RCCC platform provides them with corresponding services. The transactions and services of the RCCC platform are all completed by using RCCC tokens.

Blockchain-based art transaction

Art creators will benefit the most from using RCCC tokens. They will be able to protect their artistic assets. They will have complete flexibility to generate unique asset tokens linked to individual art assets. This unique asset token will hold title to a specific artwork and can only be transferred if the creator of the art decides to do so. This way, each unique asset token can have a specific price attached, determined by the art creator/art owner with the assistance of an expert appraiser. Art creators can sell artwork tokens on the platform and receive payment guarantees when all terms of the “smart contract” escrow are met. These terms can range from full sale and pick up on site, to packaging, shipping, insurance and delivery to the buyer. As long as the terms of the "smart contract" are met, payment to the art creator can be guaranteed, regardless of the buyer's location.

A borderless art market

Artwork buyers and collectors can search for their favorite art creators and works of art through the RCCC platform, including the collections of art museums, auction houses or individuals in any city or country. As long as the searched works of art are tagged as "for sale", they can purchase the work through the RCCC platform. The RCCC platform provides a very comprehensive user search interface for art buyers and collectors. The basic search provided by RCCC uses keyword matching such as: the name of the artist, the city of the artist's birth, the country of the artist's birth, the name of the artwork, the age of the artwork, the type of artwork (landscape, portrait ), the dominant color of the artwork, the theme of the artwork, or other relevant keywords. RCCC also provides a more powerful search function. Through users uploading images, RCCC uses the image recognition function of the platform to search for exactly matching or similar works, so that art buyers and collectors can find their favorite works of art through images. At the same time, this artificial intelligence (AI) system can also recommend artworks based on the user's browsing history and set art preferences. When art buyers and collectors find their favorite work and the work is available for sale, they can query all transaction records and all historical expert appraisals of the work through the blockchain interface provided by the RCCC platform before deciding to buy situation, fully grasp the transaction status of the work of art, and buy works of art with more confidence.

Derived value of artwork transaction records

Anyone can trace the transaction records of an artwork on the RCCC platform, allowing buyers to better understand the origin of an artwork. On the other hand, through the RCCC data platform, auction houses and art collectors can better pay attention to the art creators they are optimistic about and understand the direction of all the works of these art creators. Based on historical transaction records, predict the market value of future works of these art creators. For example, an auction house owns a large number of works by a certain artist. Through the RCCC data platform, the auction house has tracked the recent collection of the artist's works by buyers in Taiwan. So the auction house held an auction of the artist's works in Taiwan. Through RCCC's transaction records, the auction house effectively promoted and promoted the artist's works, which greatly promoted the artist's popularity in Taiwan and the value of his art works.

Quantitating the value of art

The value of art is often difficult to judge using simple rules. It is affected by many factors, such as the exhibitions the artwork has participated in, the publications it has published and the awards it has won, or the transaction price records from major markets and auction houses. . In addition to these definable standards, the value of artworks often fluctuates with the economic status of society or social trends. So, is a work of art valuable? How much is it worth? It's hard to define. In this case, a collector from Chongqing inherited a porcelain bowl from his father, but he did not have much confidence in the value of the porcelain bowl. With the help of the RCCC platform, this artwork has been identified and commented by experts on the RCCC platform, and it has also attracted many platform users who like this artwork. Through the transaction records of similar works of art on the RCCC platform, he clearly saw that this type of work of art is very popular. After he got the value information of this work of art, he sold it at a satisfactory price.