Tracking intangible value: Blockchain for cultural preservation

• Author:
• Author name

  Quantumrun Foresight
• July 8, 2024

Insight summary

Blockchain technology is emerging as a key player in safeguarding intangible assets like historical documents and intellectual property. Through decentralized storage, this technology ensures the durability and accessibility of cultural heritage, offering a new approach to protecting and sharing the world's history. The trend not only promises to transform how individuals interact with and contribute to cultural heritage but also poses challenges and opportunities for businesses and governments to adapt to these digital preservation methods.

Tracking intangible value context

Tracking intangible value revolves around quantifying and preserving assets that do not have a physical form but hold significant worth. This category includes cultural heritage, intellectual property, and digital assets. The use of blockchain technology, for example, is a pivotal development in this field. It facilitates decentralized data storage, making it more resilient to destruction or loss. Theresa Kennedy, the founder of Black History DAO (Decentralized Autonomous Organization), highlights this advancement by storing data across multiple locations using Web3 technologies, safeguarding crucial historical documents and artifacts from being irretrievably lost.

The application of such technologies extends beyond mere data storage. Ukrainian crypto entrepreneur Michael Chobanian illustrates another facet of tracking intangible value through his efforts to preserve Ukraine's cultural heritage amidst the devastation of war. By using blockchain to maintain 3D models of endangered or destroyed cultural sites, Chobanian's initiative underscores the potential of digital platforms to archive and protect the intangible aspects of a nation's identity. These efforts are not isolated; they represent a broader movement towards recognizing and preserving value transcending physicality, utilizing cutting-edge technologies to safeguard history and heritage for future generations.

Meanwhile, startup Quantum Temple employs blockchain and non-fungible tokens (NFTs) to document, fund, and promote cultural heritage. This approach not only ensures the preservation of traditions and knowledge at risk of extinction but also introduces a new economic model. Facilitating equitable exchanges between collectors and ancestral communities opens up avenues for sustainable funding and engagement with cultural heritage.

Disruptive impact

Individuals are set to experience a significant shift in how they engage with cultural and historical content due to the rise of blockchain technology in preserving intangible value. People will have unprecedented access to a wealth of cultural heritage, democratizing previously guarded knowledge or at risk of being lost. This accessibility could enhance global understanding and appreciation of diverse cultures, fostering a more inclusive society. However, there's a risk that the digital divide could widen, with those lacking technical skills or internet access potentially missing out on these resources.

For businesses, the trend toward using blockchain for intangible asset preservation offers a new frontier in content authenticity and digital rights management. Companies can leverage this technology to create, distribute, and monetize content with a clear, unalterable record of ownership and provenance. This development could open up new revenue streams and business models, particularly in the arts, culture, and education sectors. On the downside, businesses may face challenges adapting to these new models, requiring significant investment in technology and skills training to stay competitive.

Governments will need to navigate a complex landscape as the preservation of intangible value via blockchain becomes more prevalent. This technology offers a tool for safeguarding national heritage and fostering cultural diplomacy, potentially enhancing a country's soft power on the global stage. However, it also poses regulatory challenges, particularly regarding copyright law, digital rights, and international cooperation in cultural preservation. Governments may need to develop policies that balance the protection of cultural assets with promoting innovation and accessibility.

Implications of tracking intangible value

Wider implications of tracking intangible value may include: 

• Enhanced global access to digitized cultural heritage leading to increased cross-cultural understanding and cooperation.


• New job opportunities in tech, specifically for blockchain developers and digital archivists, to manage and preserve digital assets.


• An increase in digital literacy demands among the general population as access to blockchain-preserved content becomes more widespread.


• New marketplaces and platforms for trading and investing in digital cultural assets, affecting traditional art and cultural heritage sectors.


• A shift in educational content delivery, with schools and universities incorporating blockchain-preserved materials into curricula to provide authentic learning experiences.


• The reduction in environmental impact from physical storage facilities, as digital preservation decreases the need for paper and physical storage spaces.


• A potential rise in cyber threats targeting blockchain platforms storing valuable cultural and historical data, necessitating advanced cybersecurity measures.


• Increased collaboration between technologists and cultural institutions, fostering interdisciplinary projects that blend technology with art and history.


• Changes in demographic engagement patterns, with younger generations potentially showing greater interest in cultural heritage through digital platforms.

Questions to consider

• How can you contribute to preserving and sharing your cultural heritage using digital platforms?


• What measures can be taken to ensure equitable access to digital cultural assets for people without advanced technological skills or resources?