Yesterday was listening to another fellow steemian who was talking about items used as store of wealth.

The ultra rich of the world do not use fiat to store their money. They buy highly expensive real estate to do so. They also use paintings and other forms of collectibles as a way of storing value. This makes for frequent sale and purchase of such items. Even the most expensive paintings can exchange hands several times in just a e period of few years.

A lot of this sale and purchase is done through the auction houses and perhaps this can explain why the Codex protocol can be worthwhile idea. There is another aspect to the greatness of this idea.

Many collectible items never even come to the auction table because of trust issues. Perhaps with a trust-less and immutable nature of the blockchain this hurdle can be overcome and this might be ares where Codex protocol might shine.