What… is a bank?
Blockchain is challenging what we know about governance, economics, communication, and of course – value. As new networks and stores of value, cryptocurrencies are challenging a lot of our preconceived notions for the purpose of traditional value-authenticators – aka – banks. Artist Kevin Abosch recently announced a mysterious and likely purposefully open-ended project titled; “THIS IS A BANK”
For the moment, the site only includes a wallet address, a private key which would give anyone access to the digital currencies deposited to it.
By making the private key to a blockchain wallet public and declaring it a “bank” open to anyone with the technological means to access it, the artist creates a complication that speaks to issues around public engagement in trust-systems. As technology presents a threat to traditional power-structures, Abosch considers the need to mitigate the human threat of corruption against our value-system.
Kevin Abosch is a conceptual artist known for his works in photography and creator for the most valuable crypto artwork, the Forever Rose. His recent works include Priceless – a collaboration with Ai WeiWei is a world-renowned Chinese contemporary artist involved in all diverse practices of art and social criticism.