Founded in 2017, Mattereum is a London-based, VC-backed technology startup creating digital identities for the world of physical goods.
The Mattereum Asset Passport uses blockchain technology to help buyers, sellers, and experts work together to create a doubt-free environment for trade in luxury goods, art & antiques, and other items where authenticity means everything.
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The Mattereum Asset Passport
- A third-party verified digital identity for physical things stored on the blockchain.
- Asset Passports can be assigned to a diverse range of asset classes including fine art, collectibles, luxury goods, aviation parts, consumer electronics, and many more.
- The Mattereum Asset Passport rewards truth in trade by incentivising good information and compensating victims of bad information.
- Asset data is backed by Ricardian contracts (the invention of our Chief Scientist Ian Grigg, and dispute resolution by arbitrators enables quick and legally binding decisions recognised in over 150 global jurisdictions.
How it works
Step 1: Creating an Asset Passport
- Owners or creators of an object generate a Mattereum Asset Passport by submitting information about that object, including detailed descriptions, provenance data, and images.
- This information takes the form of a “certification”: a warranty offered by the provider, for a fee, establishing terms for compensation if any of the information is inaccurate.
Step 2: Populating an Asset Passport
- External experts (we call them certifiers) provide additional information about the object, each creating further certifications with their own fees and terms.
- Since certifiers have “skin in the game”, being responsible for providing compensation if their information is inaccurate, they are more careful and precise about the information they provide.
- Certifiers get paid whenever someone activates their warranty.
Step 3: Activating an Asset Passport
- When someone buys or uses the object, they can subscribe to whatever certifications they wish, gaining protection against inaccurate information, by paying the certifier’s fee and electronically signing the accompanying contract.
- If information about an asset is found to be inaccurate, certifiers pay compensation to warranty holders according to the agreed terms.
Why you need one
- As a buyer, you can be more certain about what it is you are purchasing, and about having clear routes to compensation if the goods aren’t what they’re stated to be.
- As a seller, you can remove the “doubt discount” from your goods and sell for its actual value, since its authenticity and provenance is much more well established.
- As a certifier, you can make money by providing valuable data about goods about which you have specialised knowledge.
- Companies looking to securitise, collateralise, or tokenise physical assets are better assured of the authenticity and quality of goods if those goods carry a Mattereum Asset Passport.
- Compliance with environmental initiatives (carbon offsetting, sustainable manufacturing methods, etc.) can be attributed to assets and updated accordingly.
- Consumers making purchases conforming to medical needs or ethical preferences (food allergies, dietary requirements, or avoidance of goods produced in unethical conditions) can distinguish goods which conform to their requirements.