KODAKCoin is the new cryptocurrency associated with the KODAKOne platform. Based on blockchain technology, it is designed to help photographers protect their original work. Launched by Kodak company, KODAKOne plans to create an effective image rights management system using a secure digital ledger.
Wenn Digital is the company that is creating KODAKOne platform in partnership with Kodak. This new blockchain based project seems to be a feature rich endeavor. It attempts to solve a very serious structural problem faced by photographers in this digital age.
It is a well known fact that copyrights violation is a usual practice on the internet, and photographers have very limited options to protect their creative work effectively. Therefore, Kodak has taken the initiative to provide a reliable and secure blockchain based solution to help mitigate this widespread problem.
KODAKOne platform works by registering images submitted by photographers. To protect these images from unlicensed usage, KODAKOne is designed to continuously crawl the web and detect images secured by this novel platform. KODAKOne system also manages to effectively reward photographers after proper licensing.
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.
Jeff Clarke Kodak CEO
KODAKOne community will be supported by the issuance of KODAKCoin cryptocurrency. According to Kodak official website, KODAKCoin will be available after a regulated initial coin offering (ICO).
It is too early to guess the value of Kodak’s new cryptocurrency. Its value will definitely depend on the initial investment and later on the popularity of KODAKOne platform. Once the effectiveness of the platform is tested, investment in KODAKCoin may increase.
Just like any other cryptocurrency, volatility in the value is also expected. But, one thing that sets KODAKCoin apart is the idea behind its KODAKOne platform. It attempts to solve a very serious issue for photographers by providing the necessary tools to secure their creative work.
Analysis of Kodak’s blockchain based platform indicates that this cryptocurrency may initiate a new wave of innovative blockchain applications.