Kodak, one of the pioneers in the photography business has recently joined the cryptocurrency craze. Together with Wenn Digital, Kodak launched KodakOne, a blockchain powered imaging rights management platform. This company established this platform with an attempt to solve some of the problems affecting the photography industry. This platform ensures that photography agencies and individual photographers have control of their work and generate revenue from their work without interferences.
All over the globe, photographers are faced with many problems such as piracy, copyright infringement, control of IP and licensing. These problems have made it very difficult for photographers to work well and generate revenue. There even some people who steal photos, use them but the photographer doesn’t get anything from that. After a careful analysis of all these problems plaguing the imaging industry, Kodak launched KodakOne to help solve these problems. Kodak’s new platform takes imaging and photography to a whole new level. It has wonderful features of a distributed ledger economy such as encryption, security, transparency and immutability, which are used to create a sense of ownership for the photographer’s work. What does this platform do? This platform allows photographers to register their work, license and also to buy or sell within the same platform.
To be able to operate within the platform, both professional and amateur photographers will use Kodak’s cryptocurrency dubbed as KodakCoin. This Kodak Crypto will help photographers to get paid for their work instantly through Smart Contracts. The platform also monitors the artists IP and web activity to make sure that their work is not used illegally in any manner. In case the platform detects unregistered images, it helps with post-licensing issues to make sure that the photographer gets paid for their work. Photographers have been looking for how they can protect their work from people whose aim is using images without paying the owner. However, by establishing Kodak, have seen this as a life saver, since they will be able to register both their new and old work, license it and get paid if someone else uses the work. This secure Kodak blockchain platform has greatly empowered photography agencies and individual photographers to do their work without any fear of losing their work to other people.
What is KodakCoin?
Kodak’s platform is not only using blockchain to deliver its services, it’s also offering a regulated Initial Coin Offering (ICO). KodakOne, Kodak’s blockchain platform, is powered by tokens known as KodakCoin. KodakCoin will be used all over the world for licensing, royalty accounting and payments. WENN Digital CEO Jan Denecke has come clearly stating that KodakCoin will offer a trustworthy and secure way of handling the photographer’s work in the platform. This crypto coin ensures a fair treatment of the photographer and provides him with an opportunity of securing his assets.
Kodak’s partnership with Wenn Digital has brought forth Wenn’s blockchain development expertise, their expertise in copyright laws, image recognition which is AI based, big data and post-licensing systems. KodakCoin ICO began on 31th January 2018 and is available to accredited investors for the United Kingdom, the United States, Canada and other select countries and is operated following SEC’s guidelines to ensure that everything is done in a clear, transparent and secure way for photographers across the globe.
The is a growing number of companies who are now joining the blockchain or cryptocurrency craze and it makes a lot of sense. They are doing so with the aim of raising the value of their stocks. Kodak is one company that has joined this blockchain rage recently to help photographers in all matters concerning the imaging industry. You see, in this digital era it is very challenging for photographers to keep a track record of whether their work is being reproduced somewhere else. Kodak has provided an easy of way of registering, licensing, managing and monetizing their work. That is why this move has been accepted by most photographers all over the globe with open arms. Who would want their work pirated? Who would not want to get paid for the hard work they do? None. That’s why Kodak has joined in this rage to ensure photographers get what they deserve. Also, Kodak has greatly boosted this evolving world of cryptocurrencies.