Zug, Switzerland, October 2, 2024, Chainwire
The second largest bank in Poland, Pekao SA, used the Aleph Zero L1 blockchain to tokenize and protect internationally renowned Polish works of art.
Bank Pekao, Aleph Zero and Degen House are proud to announce the launch of Archiv3, a project aimed at tokenizing and protecting Polish cultural heritage on the Aleph Zero blockchain, with digital reproductions safely stored in the Arctic World Archive (AWA). This initiative combines blockchain technology with a commitment to cultural protection, ensuring the security of Poland’s artistic heritage for future generations.
Thanks to Archiv3, Bank Pekao becomes the first universal bank that tokenizes works of historical art specifically for conservation purposes. This initiative is a continuation of the bank’s previous project “Unique”, marking its role in the integration of blockchain technology with classic banking. It also highlights the bank’s ongoing commitment to modernizing services and expanding the reach of digital assets. Notably, Archiv3 is the first project to tokenize artwork for long-term storage in the Arctic World Archive, known as the “Doomsday Library.” In its press release, Bank Pekao pointed out that the decisive factor in the utilize of the Aleph Zero blockchain was not only its speed and security, but also attention to optimization for a low carbon footprint and a carbon offset program.
“We chose Aleph Zero because of its privacy-friendly, top-class technology combined with established experience in cooperation with large institutions,” says Michał Walęczak, Director of the Private Banking Strategy and Development Department at Bank Pekao SA “At the same time, a minimal carbon footprint due to low storage costs were also an critical factor in our decision-making process. Tokenization of art requires up-to-date and versatile technology, unforced creativity and unconventional thinking; We were cheerful to find these features in collaboration with Aleph Zero.”
ARCHIV3 involves the thorough digitization of masterpieces by iconic Polish artists such as Jan Matejko, Stanisław Wyspiański, Wojciech Kossak and others, with the support of Degen House, the bank’s technology partner, which also managed the Aleph Zero integration. The process began by creating high-quality, museum-quality 3D scans using ultra-sensitive cameras that capture every detail of the original artworks. These digital replicas were then minted as NFTs on the eco-friendly Aleph Zero blockchain, which ensures a minimal carbon footprint in the process. The tokenized versions are then archived in the Arctic World Archive, where they are expected to remain secure for at least 1,000 years.
The works of art in the Archiv3 collection span a variety of historical periods, primarily including 19th-century works and selected contemporary works, such as works by contemporary artist Lia Kimura. This initiative aims to preserve these treasures not only for their cultural and historical significance, but also as a resource for future research, conservation and potential virtual exhibitions.
Preserving art for future generations
The Arctic World Archive, located in 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 threats. Founded in 2017, the archive uses advanced storage technology to ensure data persistence without the need for electricity or human intervention, making it one of the safest places in the world to store irreplaceable records.
AWA already contains manuscripts from the Vatican Library, UNESCO and UNICEF documentation, the entire GitHub code repository, as well as literary works by Nobel laureates Olga Tokarczuk and Wisława Szymborska. Bank Pekao is the first financial institution to archive culturally significant works of art in AWA, doing the same using decentralized storage, setting a precedent in the utilize of blockchain technology to combine classic art with fresh digital solutions.
If you have any questions about this release, please contact us at josh@serotonin.co
About Aleph Zero
Aleph Zero is an ecosystem of privacy-enabled blockchain solutions designed for speed, data confidentiality, and ease of programming. It achieves performance comparable to conventional web2 systems, maintains stringent data protection standards through zero-knowledge verification, and offers a comprehensive set of web3 development tools, from WASM-based Rust environments to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 utilize cases under dynamic development, demonstrating its adaptability across a variety of sectors and applications. These utilize cases are part of an engaged community and growing ecosystem of web3 applications that are supported by Aleph Zero’s ecosystem development programs.
For more information, users can visit https://alephzero.org/
About Bank Pekao SA
Bank Pekao SA, 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 worth PLN 316 billion. Bank Pekao, with the second largest branch network, 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. Bank Pekao’s diversified business profile is supported by a market-leading balance sheet and risk profile reflected in the lowest cost of risk, good capital ratios and resilience to macroeconomic conditions (Pekao proved to be the most resilient bank in Europe, taking first place in stress tests conducted by the EBA in 2023 r. on a group of 70 banks). Since 1998, Bank Pekao has been listed on the Warsaw Stock Exchange and participates in several local indices (including WIG 20 and WIG) and international indices (including MSCI EM, , Developed). Pekao is one of the highest dividend-paying listed companies in Poland over the last 10 years, paying out a total of approximately PLN 20 billion over the decade.
About Degen House
Degen House is a provider of end-to-end blockchain solutions with a proven track record of collaboration spanning major banks in Central and Eastern Europe and the world’s top blockchain ecosystems. The company offers comprehensive, end-to-end solutions, from strategic consulting and product development to targeted marketing and sales.
ContactPR ManagerJosh AdamsAleph Zerojosh@serotonin.co
