The Winklevii Want to Make Art Transactions Frictionless Just Like Bitcoins

Fast Company spoke to the founders of Paddle 8 about their recently announced investment from the Winkelvoss brothers. Aditya Julka’s version of the story is very telling, though a little bit confusing:

After being introduced by an existing investor, Julka said, “we talked about how there has been so much conversation about art as an asset class, and while some people think of Bitcoin as a currency other think of it as an asset class. There’s a lot of commonality about how Bitcoin is thought of, and as we spoke with them it became clear they could be very helpful both in terms of global expansion and company building.”

By email, Tyler Winklevoss wrote to Fast Company that “The art market is global and like many global markets it currently feels the pain, inefficiencies, and high-costs of our current payment systems. Bitcoin rethinks the way we transfer value. It is borderless, frictionless, and instant and should be able to bring these qualities to art transactions just like any other transaction.”

Banksy, Bitcoin, And The Winklevoss Twins: An Online Art World Love Story  (Fast Company)