KODAKCoin: On Tuesday (9th January), the Kodak and its partner WENN Digital jointly announced their launch of the KODAKCoin and KODAKOne image rights management platform. The company says “this photo-centric cryptocurrency has the vision to empower photographers and agencies to take greater control in image rights management.” So, this new announcement will protect the works of photographers and will give a new revenue stream.
KODAKOne will be an encrypted digital ledger of rights ownership. Also, the transaction will be done by using KODAKCoin instead of any other country’s currency.
After this announcement would launch the Kodakcoin, the shares in Eastman Kodak Co. increased more than double.
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“With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform,” Kodak says.
“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. 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.” said Kodak CEO Jeff Clarke.
The initial coin will open on 31st January 2018. For more information, check the official website.