Poland’s Second-Largest Bank Selects Aleph Zero for Tokenizing Historical Art

Zug, Switzerland, October 2nd, 2024

Poland’s second-largest bank, Pekao S.A., has adopted the Aleph Zero Layer 1 blockchain to tokenize and safeguard renowned Polish artworks.

In conjunction with Aleph Zero and Degen House, Bank Pekao is excited to unveil Archiv3, an initiative aimed at tokenizing and preserving Polish cultural heritage utilizing the Aleph Zero blockchain. Digital reproductions of these priceless works will be securely stored in the Arctic World Archive (AWA). This project merges advanced blockchain technology with a dedication to the preservation of cultural heritage, ensuring that Poland’s artistic legacy is protected for future generations.

With Archiv3, Bank Pekao distinguishes itself as the first universal bank to tokenize historical art specifically for preservation. This initiative follows the bank’s earlier “Unique” project, further integrating blockchain technology into traditional banking practices. It reflects the bank’s commitment to modernizing its services and extending the reach of digital assets. Archiv3 also marks the first instance of artworks being tokenized for long-term preservation in the Arctic World Archive, famously known as the “Doomsday Library.” In a statement, Bank Pekao emphasized that the choice of the Aleph Zero blockchain was driven not only by its speed and security but also by its focus on a low carbon footprint and its carbon offset program.

Michał Walęczak, Director of the Private Banking Strategy and Development Department at Bank Pekao, stated, “We have chosen Aleph Zero for their privacy-focused, top-class technology combined with sound experience in cooperation with large institutions. 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 Aleph Zero.”

ARCHIV3 involves the careful digitization of masterpieces from iconic Polish artists, including Jan Matejko, Stanisław Wyspiański, and Wojciech Kossak. This effort is facilitated by Degen House, the bank’s technological partner, which also oversees the integration with Aleph Zero. The process starts with creating high-quality, museum-grade 3D scans using ultra-sensitive cameras to capture all details of the original artworks. These digital replicas are then minted as NFTs on the eco-friendly Aleph Zero blockchain, ensuring a minimal carbon footprint during the tokenization process. The tokenized artworks will be archived in the Arctic World Archive, where they are expected to remain secure for at least 1,000 years.

The collection features a variety of historical works, primarily from the 19th century, along with select contemporary pieces by artists such as Lia Kimura. This initiative is designed to maintain these cultural treasures not only for their artistic significance but also for future study, conservation efforts, and potential virtual exhibitions.

Preserving Art for Future Generations

The Arctic World Archive, located in the Svalbard archipelago, is a highly secure data vault intended to protect invaluable cultural, historical, and scientific information from natural disasters, cyber threats, and other risks. Established in 2017, the archive employs advanced storage technology to ensure information longevity without the need for electricity or human intervention; thus, it serves as one of the safest places worldwide for preserving irreplaceable records.

The AWA already houses various significant documents, including manuscripts from the Vatican Library, records from UNESCO and UNICEF, and literary works by Nobel Prize winners such as Olga Tokarczuk and Wisława Szymborska. With this project, Bank Pekao is the first financial institution to archive culturally significant artworks within the AWA using decentralized storage, setting a new standard for integrating blockchain technology with traditional art forms.

This initiative represents a significant step towards preserving Poland’s rich artistic heritage for future generations.