What’s With Kodak Launching its Crypto?

0
749

Kodak is using the blockchain technology to solve the problems that the photography industry has been facing since long. Along with WENN Digital, Kodak launched a blockchain powered image rights management platform called KODAKOne and also launched a photo centric cryptocurrency called KODAKCoin. There are thousands of images that are used extensively and circulated on the web for which the photographers do not get their due capital.

Utilizing blockchain technology, the KODAKOne platform provides continual web crawling to monitor and protect the IP of the images registered in the KODAKOne system. Where unlicensed usage of images is detected, the KODAKOne platform can efficiently manage the post-licensing process to reward photographers.

The KODAKOne image rights management platform creates an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. KODAKCoin allows participating photographers to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and sell their work confidently on a secure blockchain platform.

“Engaging with a new platform  it is critical that photographers know their work and their income is handled securely, with trust, which is exactly what we did with KODAKCoin,” said WENN Digital CEO Jan Denecke. He added, “Subject to the highest standards of compliance, KODAKCoin is all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new company tailored for them, with secure asset rights management built right in.”

Source: https://www.kodak.com/kodakone/default.htm

Author | Akanksha Goel