Date of Award
2023
Document Type
MA Project - Restricted Access (SIA Only)
Project Type
MA Project - Business Plan
Degree Name
Master of Arts (MA)
Department
Art Business
First Advisor
Fanny Lakoubay
Abstract
Traditional Chinese painting and calligraphy artworks have a solid market base and value consensus but have been operating inefficiently due to information asymmetry and low circulation efficiency. If blockchain technology can be used to enhance industry efficiency by reducing transaction costs, breaking down the information barriers and improving its market liquidity, Traditional Chinese painting and calligraphy art market will make a huge leap in market space. Yao Chain is a blockchain-based asset trading platform for the Traditional Chinese painting and calligraphy industry, and from which the distributed economic ecology is built.
Collectors who own artworks use them as the underlying assets to issue Yao Chain Subcoins (this will be fully explained later) anchoring the value of the artworks on the Yao Chain. Appraisal institutions and trustees with social credibility will provide services and credit enhancement for Yao Chain Subcoins to realize the transmission of credibility. After realizing the secondary market pricing, Yao Chain will become an open and transparent market to attract buyers to privatize the artworks by purchasing Yao Chain Subcoins, where collectors will have the
opportunity to earn the liquidity premium of Yao Chain Subcoins in contrast to the original value of the artwork, and buyers will obtain a strictly authenticated and well-circulated work of painting or calligraphy.
Recommended Citation
Lu, Yao, "A Business Plan: Yao Chain" (2023). MA Projects. 142.
https://digitalcommons.sia.edu/stu_proj/142