KodakCoin – an old “giant” in the new Blockchain game

Kodak was once the most powerful photography company, tracing its roots back to the middle of the1880s. While Kodak may have been forgotten by some people due to the “smartphone era”, the company is now entering what most technology companies cannot get enough of, i.e. Blockchain and ICOs.

Today, on 9th January, 2018, Kodak announced a brand new partnership with WENN Digital for a blockchain-based platform that will aim at protecting photos and images, along with artists and photographers.

According to BitcoinMagazine, the new platform will be called KodakOne. It will essentially enable to securely register their piece of work and license it with the help of the platform. Quoting from the Magazine:

“The image rights management platform will utilize the new KODAKCoin cryptocurrency to provide photographers with a new revenue stream and secure platform for protecting their work.” 

The biggest advantage the platform will provide for users is the immediate payment and shared revenues ensured, once their work becomes licensed. The blockchain technology will protect users and their work by constantly scanning the web for illegal use of the user’s work and their IP address.

It was WENN Digital that helped Kodak create the KodakCoin and the platform. The ICO is set to open on January 31st, 2018.

In the words of Shawn Gordon from BitcoinMagazine:

“For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords, but for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem,” said Kodak CEO Jeff Clarke in a statement. “Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that.” 

While many new companies and startups are “clawing” their way to capital and success, some old “giants” such as Kodak are also on their way to disrupt their business models and hopefully, gain market share in their respective industries.

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