Outline of Vision

A decentralized blockchain network is known by its capacity to maintain an immutable ledger that is verified by a distributed network of computers. By combining the blockchain technology with cryptography and game theory, decentralized blockchain networks like Bitcoin were able to secure transactions without the need of trusted intermediaries, significantly reducing the cost of validation.

Subsequent networks with distinct functions from its Bitcoin predecessor have emerged since. Ethereum, for example, can provide a secure, reliable and decentralized platform for building and deploying applications. It uses a blockchain-based distributed computing platform, which makes it more secure and efficient than traditional centralized systems.

This makes decentralized blockchain networks like Ethereum the ideal technology candidate to upscale efforts of safeguarding humanity’s intangible cultural heritage records, safely recording them in a censorship resistant and tamper-proof inventory data store. Additionally, Ethereum allows for the creation of smart contracts, which are self-executing contracts that are stored on the blockchain. These contracts can be used to automatically enforce digital ownership and securely transact digital assets, building blocks for the design of reward mechanisms to promote desired engagement behaviors and contributing to acquisition network effects in decentralized applications.