The Good Tech Companies - ARCHIV3: Poland’s Second-Largest Bank Chooses Aleph Zero To Tokenize Historical Art

Episode Date: October 2, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/archiv3-polands-second-largest-bank-chooses-aleph-zero-to-tokenize-historical-art. This initiative combines blockchain technology with a commitment to cultural preservation, ensuring the safekeeping of Poland’s artistic legacy for future gener Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #bank-pekao, #chainwire, #press-release, #bank-pekao-announcement, #tokenization-of-rwas, #rwa-protocols, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. ARCHIV 3. Poland's second-largest bank chooses AllF0 to tokenize historical art, by Chainwire. ZUG, Switzerland, October 2, 2024, Chainwire, Poland's second-largest bank, Pekao SA. Used the AllF0 L1 blockchain to tokenize and preserve internationally renowned Polish artworks. Bank Pekao, AllF0, and Degenhaus are proud to announce the launch of Archive3, a project to tokenize and preserve Polish cultural heritage on the AllF0 blockchain, with digital reproductions securely stored in the Arctic World Archive, AWA. This initiative combines blockchain technology with a commitment

to cultural preservation, ensuring the safekeeping of Poland's artistic legacy for future generations. With Archive 3, Bank Pekao becomes the first universal bank to tokenize historical art specifically for preservation purposes. This initiative follows the bank's earlier unique project, marking its role in integrating blockchain technology with traditional banking. It also highlights the bank's ongoing commitment to modernizing its services and expanding the reach of digital assets. Notably, Archive 3 is the first project to tokenize artworks for long-term storage in the Arctic World Archive, known as the Doomsday Library. In its press release, Bank Pacao pointed out that the deciding factor in using the AllF0 blockchain has been not only its speed and security but also

its attention to optimizing for a low-carbon footprint and its carbon offset program. We have chosen AllF0 for their privacy-focused, top-class technology combined with sound experience in cooperation with large institutions, Sais Michael Wileczak, Director of the Private Banking Strategy and Development Department at Bank Pekao S.A. Minimal carbon footprint as well as low storage costs were also important factors in our decision-making process. Tokenization of art requires modern and flexible technology, unforced creativity and some out-of-the-box thinking. These features we were happy to find in cooperation with All F-Zero. ARCHIV-3 involves the meticulous digitization of masterpieces from iconic polish artists, such as Jan Modico, Stanislaw Wyspianski, Wojciech Kosak, and others, facilitated by Degenhaus, the bank's technological partner,

who also managed the AllF0 integration. The process began with the creation of high-quality, museum-grade 3D scans using ultra-sensitive cameras, which capture every detail of the original artworks. These digital replicas were then minted as NFTs on the eco-friendly AllF0 blockchain, which ensures minimal carbon footprint during the process. The tokenized versions are subsequently archived in the Arctic World Archive, where they are expected to remain secure for at least 1,000 years. The artworks in the Archive 3 collection span a range of historical periods,

primarily featuring 19th-century works and select modern pieces, such as those by contemporary artist Leah Kimura. This initiative aims to preserve these treasures not only for their cultural and historical significance but also as a resource for future study, conservation, and potential virtual exhibitions. Preserving art for future generations The Arctic World Archive, located on the remote Svalbard Archipelago, serves as a highly secure data vault designed to protect invaluable cultural, historical, and scientific information from natural disasters, cyber threats, and other risks. Established in 2017, the archive uses advanced storage technology to ensure data longevity without the need for electricity or human intervention, making it one of the safest

places in the world for preserving irreplaceable records. The AWA already houses manuscripts from the Vatican Library, documentation from UNESCO and UNICEF, the entire GitHub code repository, as well as LiteraryWorks B Nobel Prize laureates Olga Tokerchik and Viswava Samborska. Bank Pekao is the first financial institution to archive culturally significant artworks at the AWA, while doing the same using decentralized storage, setting a precedent for how blockchain technology can be used to bridge traditional art with new digital solutions. For any inquiries about this release, please contact Josh at Serotonin. Co. about All F0 All F0 is a privacy-first ecosystem of blockchain solutions that are engineered for speed, data confidentiality,

and ease of development. It achieves efficiencies akin to conventional Web2 systems, upholds rigorous standards for data protection via zero-knowledge proofs, and offers a comprehensive toolset for development across Web3 that ranges from WASM-based Rust to EVM-based Solidity environments. AllF0's versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of Web3 applications that are supported by AllF0 ecosystem development programs. For more information, users can visit https://allefzero.org about Bank Pekao S.A. Founded in 1929, is one of the largest financial institutions in the Central and Eastern European

region and the second largest universal bank in Poland with assets of 316 billion Polish zlotys. With the second largest branch network, Bank Pekao serves 6.9 million customers. As a leading corporate bank in Poland, it serves every second corporation in Poland. Its status as a universal bank is based on its leading market position in private banking, asset management, and brokerage activities. Bank Pekao's diversified business profile is supported by a leading market balance sheet and risk profile reflected in the lowest risk costs, strong capital ratios, and resilience to macroeconomic conditions. Pekao proved to be the most resilient bank in Europe, ranking first

in the stress tests conducted by the EBA in 2023 amongst 70 banks. Since 1998, Bank Pekao has been listed on the Warsaw Stock Exchange and participates in several local, including WIG20 and WIG, and international indices, including MSCIM, StocksEurope600, and FTSE developed. Pekao is one of the most dividend-paying listed companies in Poland over the past 10 years, paying out a total of approximately 20 billion Polish zlotys over a decade. About Degenhaus Degenhaus is a full-stack blockchain solutions provider with a proven track record of collaborations spanning major C banks and top global blockchain ecosystems. The company offers comprehensive end-to-end solutions, from strategic consulting and product development to targeted marketing and sales.

C-O-N-T-A-C-T-P-R Manager Josh Adams All F-Zero Josh at Serotonin. Co. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.