”We are going to be more in control of our own identity and agency in these decentralized networks,” Lubin told the audience at the International Luxury Conference. As he interprets it, the technology will change the current scarcity mindsets of individuals into an abundance mindset which will encourage people to express themselves.
His remarks are particularly significant as the benefits of blockchain are usually reduced to economic and technological terms; the potentials on an individual level are frequently not discussed.
Blockchain will also bring the benefit of creating more wealth, Lubin predicted, and ”more of an appetite for luxury than less”.
These comments came during the New York Times’ conference in Hong Kong on 12 November. Running also on 13 November, other prominent speakers include the president of Alibaba Group and the CEO of fashion brand Balenciaga.
As Bitcoin News reported in October, blockchain is becoming an increasingly popular choice for artists looking to sell their works. Just as in Lubin’s statements regarding the promotion of individual’s expression, cryptocurrency artist Josie Bellini told Bitcoin News that blockchain will eliminate the need of the middleman, allowing artists to reap the full extent of their work.
Blockchain can be used to sell artwork on the international market, create transparent, decentralized selling platforms, track the history and authenticity of art, as well as tokenize shares in pieces of art for joint ownership
The art industry has both the essence of luxury that Lubin alluded to in his view of blockchain’s enabling potential, as well as that of self-expression and identity.
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