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Kodak Launch Digital Currency For Photographers

Kodak Launch Digital Currency For Photographers - Kodak set to launch a new digital currency and a rights management system for photographers

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Kodak Easyshare One in Industry News

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Kodak has seen their stock value rise, as they announced plans to launch a new digital currency, like BitCoin, called KodakCoin.

They are also launching an image rights management platform called KodakOne, designed to be an encrypted digital ledger of image rights ownership for photographers, so that work can be registered (both new and old), letting photographers license work out to others. KodakCoin is then used to take payment using the secure blockchain platform. The platform provides continuous web crawling to protect the intelectual property of images registered in the system, and if unlicenced images are found, the system is designed to manage the licensing so that photographers will be paid for their work.

The system is due to launch online, on the 31st of January 2018.

 

From Kodak: ROCHESTER, N.Y. (BUSINESS WIRE) Today Kodak and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management.

Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. 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. KODAKOne platform provides continual web crawling in order 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 in order to reward photographers.

“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. “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.”

“Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KODAKCoin,” said WENN Digital CEO Jan Denecke. “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 economy tailored for them, with secure asset rights management built right in.”

The initial coin offering will open on January 31, 2018 and is open to accredited investors from the U.S., UK, Canada and other select countries. For more information visit www.kodakcoin.com. This initial Coin Offering is issued under SEC guidelines as a security token under Regulation 506 (c) as an exempt offering.

For more information and to sign up for product updates, please visit www.kodak.com/go/kodakone.

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