Auctionity, an English auction company, said it would use the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details to sell real items. The company has released a promotional video to illustrate the future of the auction business in the world.
Auctionity's latest video auction is designed to show how innovation can be used to effectively bargain. The video also shows how and what the employees of the research and development department of Auctionity do.
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Distributed registry technology in Auctionity
"To illustrate what the (near) future of auctions could be, we, Auctionity, have released a video reflecting some of the latest advances and possible changes that Auctionity makes with innovation and in its research and development department."
As it became known, the Auctionity auction company will use the blockchain to sell real items. Prior to this, the company had already used the blockchain for holding classic auctions of rate increases, but in previous cases these were "intangible" goods. For example, today on the Auctionity website you can find lots with collection tokens of different forms (Non-fungible tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details or security).
Recall that Auctionity is a project of the DomRaider group, which, according to the participants, "serves as a bridge between the world of auctions and the potential of the blockchain with open source". Auctionity provides decentral blockchain auctions in real time. Until that time, the company was selling blockchain goods and cryptocurrency.
According to the company's official blog, the auction also sells coins of the ERC-721 protocol standard in the Ethereum network, which was developed in September 2017 and was first used in the CryptoKitties Ethereum game.
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There is no detailed information on when the first blockchain bargaining of physical items will take place. But representatives of Auctionity argue that this will happen soon.
The Auctionity blockchain auction will start selling "physical" values. Recall that the recent Wilsons Auctions (Ireland) was selling cryptocurrency, which was withdrawn from the Belgian darknet – as reported by Cryptobit.Media.
Editor: Yulia Krasnaya