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Kodak Hops on the Blockchain Bandwagon; Partners with WENN Digital to Launch a Cryptocurrency

Blockchain-Secured Image Rights

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Kodak has partnered with WENN Digital, announcing the launch of a blockchain platform – KODAKOne – and a cryptocurrency – KODAKCoin. This move is intended to empower agencies and photographers to realizer even better control when it comes to the management of image rights.

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.

The CEO of Kodak Jeff Clarke said. He continued,

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.

By utilizing the blockchain network, the platform will help create a digital ledger of rights ownership that’s not only fully encrypted, but also decentralized. Photographers and agencies will now be able to register their work – both archived and new- and license it within the platform.

The KODAKCoin, on the other hand, allows those participating to take part in a new photography economy as well as receiving compensation for licensing their work once they make a sale. The idea will not lock out the amateurs, but will include both the novices and professionals in the industry, allowing everyone to have confidence when selling their work.

How Will the KODAKOne Blockchain Platform Work?

KODAKOne platform will provide continual web crawling, helping to monitor the IPs of all registered images, protecting them against copyright violation. Once usage of an unlicensed image is discovered, the platform can move in and manage the post-licensing process efficiently, in an aim to reward the owners.

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,

The CEO of WENN Digital Jan Denecke said.

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.

Kodak is a technology brand that’s focused solely on imaging. It provides software, hardware, consumable and services in entertainment and commercial films, packaging, publishing, commercial print and graphic arts, in partnership with other companies. WENN Digital comprises an experienced team who are behind the creation of KODAKCoin cryptocurrency and KODAKOne blockchain platform.

What do you think about the partnership between Kodak and WENN Digital to start a blockchain platform and a cryptocurrency? Will this be the solution to copyright violation of images? Will it benefit photographers? Let’s hear your thoughts.

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