Arcual’s mission is to build the next generation of digital infrastructure for the art world, to help foster new standards for the art ecosystem, and to improve trust and security in transactions and exchanges.
We will accomplish this mission by using innovative technology, including blockchain technologies, which we believe can promote authenticity, traceability, and equal participation for all, with a strong focus on the work of artists, galleries, collectors, and institutions.
The purpose of this document is to lay out how Arcual will pursue this mission in terms of our ethical stance as an infrastructure provider in the market, and our priorities when it comes to making decisions, above and beyond commercial concerns.
Arcual as an organization pledges that we will maintain a corporate culture committed to business ethics and comply with all laws to the highest degree, and that by extension all of our employees, representatives, and shareholders commit to conducting themselves with integrity and acting in an ethically correct manner.
Simultaneously, we will ensure that our work and our conduct as a company adheres to the highest standards of conduct and ethics in our decision-making, business planning and risk management. Therefore, this policy takes into consideration the Museums Association’s Code of Ethics for Museums and the Code of Ethics for Museums Worldwide produced by ICOM. It also takes into account the Art Basel Market Principles and Best Practices.
Arcual is committed to helping improve how the art ecosystem works, for all participants, including:
Arcual will ensure that the needs and voices of all participants in the art world are taken into account and respected.
Maintaining a strong relationship of trust with artists, galleries, collectors and institutions is critical to our ability to fulfill our mission.
Our goal is facilitation and not disruption. We want to improve how the ecosystem works, and to solve real-world pain points, not push out existing participants, consolidate economic power, or exercise control through centralization of data or tools.
As a part of this stance, we will seek to build relationships and partnerships wherever possible, working with existing art-tech companies where we see our missions as convergent, and supporting the work of everyone who understands the importance of a healthy and vital art ecosystem.
Arcual recognises the need for collective and concerted action to ensure a sustainable and fair future for the visual arts ecosystem. Of paramount importance is the simple principle that positive impact can only be possible if we continue to create trust in artists’ visions, while serving the interests of all participants.
Our goal is that Arcual’s tools and network can and will be used by any art world participant. We will work towards that goal being able to provide our infrastructure to the entire market over time.
As an infrastructure provider, we do not seek to interfere with how the participants in the wider ecosystem work, but rather to support their work as best we can. Our approach to providing that support can be best summarized as follows:
Building on these principles, we will do our best to push for the best to ensure that we promote the following best practices on a technical level:
Arcual acts in the interest of its users, artists, galleries, collectors and institutions internationally, ensuring equality of access , and participation.
For more information on public versus confidential data, and data handling, please refer to the section “Ownership and confidentiality of data,” below.
In the context of our ethical responsibility and the infrastructure we provide to everyone, Arcual is committed to clarity, transparent communication of our goals and vision, as well as significant decisions we make that affect our users.
Ensuring the relevancy and correctness of publicly available data on the blockchain is extremely important, and we will ensure that proper controls are in place.
Data will only be made publicly available with the agreement of all relevant parties (data owners). Arcual will clearly document the different types of public and private data.
In addition to data that is publicly available, there will also be data which is not and should not be public.
We care deeply about confidentiality of this data, and understand that careful handling of confidential information is one of the most important responsibilities of Arcual.
Confidential information includes, but is not limited to, personal data and sensitive data about business, finances and sales information of the users of Arcual. We are committed to providing excellent data security and privacy for all users.
Arcual is responsible for ensuring that we are only storing data that is relevant, and that that data is accurate and meaningful. We are extremely selective about what data is written to the blockchain, due to the importance of the immutability of the ledger, and will be clear at all stages about what data is private, and what data is available on the public ledger.
Arcual’s handling of any data collection, including confidential data, will be guided by the following principles:
We view data added to Arcual as belonging to the user(s) who added it, and that they should have full understanding and control over how it is used. We adhere to a principle of “private by default,” so that data is only shared by choice of the user.
Arcual is committed to a sustainable technological future, including the responsible growth of business. Sustainability not only involves environmental concerns, but also the social, governmental and cultural, as outlined in the UN Sustainable Development Goals.
We believe that with the right implementation, blockchain technology is one of the key enabling technologies that can help to create sustainable and secure infrastructure, since it is able to deliver accountability, transparency, traceability, and resilience, while providing high operational efficiency.
In order to achieve these goals, we commit to:
To ensure that we adhere to these principles, the Director’s Office and the Board of Directors shall have responsibility for compliance and oversight and ensure that all practices reflect the highest standards of ethical conduct in what we do across every aspect of the company.
This codex is referenced as part of the agreement between Arcual shareholders, and any representative of Arcual will comply by the guidelines defined in the Codex.
The CEO of Arcual shall have responsibility for compliance and oversight, and will report to the Board of Directors of Arcual on an annual basis or more frequently if necessary.
