Kodak and Wenn to launch new blockchain initiative and cryptocurrency


KODAK and WENN Digital Partner to launch a new blockchain initiative and cryptocurrency:

"The KODAKOne image rights management 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. KODAKCoin allows participating photographers to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and sell their work confidently on a secure blockchain platform."

The website kodakcoin.com is coming soon.

Full press release:

KODAK and WENN Digital Partner to Launch Major Blockchain Initiative and Cryptocurrency

KODAKOne platform and KODAKCoin cryptocurrency give photographers a new revenue stream and a secure platform for protecting their work

ROCHESTER, N.Y. 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.

“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”

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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  • Ricky Mackie

    If this were posted on April 1st I’d say it was a joke. I have no idea where this will fit into the marketplace and potentially my workflow but it’s definitely interesting as heck.

  • ZoetMB

    Aside from the investment opportunities, isn’t this what Adobe Images already does?

  • TurtleCat

    Blockchain will be a fixture in the future once certain issues are worked out. Cryotocurrencies, on the other hand, may not make it. I don’t see the value in yet another crypto coin system although I don’t value bitcoin either.

  • Spy Black

    Cryotocurrencies are nebulous to most people, I only know the limited amount I do because I know a Crypto Junkie. So how this will help in the long run remains to be seen. I think digital coins and bills is how we’re going to see currency soon. Another step into The Matrix…

  • Roger S

    Kodak’s stock more than doubled in price per share after this move was announced, so some investors clearly like the idea. Like other posters, though, I remain somewhat skeptical. The KODAKOne platform seems like a reasonable initiative, but I don’t know about trying to establish a KODAKCoin currency. Anyway, it will be interesting to see how this new direction for Kodak develops (no pun intended),

  • animalsbybarry

    Only governments have traditionally been able to print money
    Just think about it…. start with nothing and print all the money you want !!!!
    Now private companies are printing thier own money too….the wealth for the wealthiest has no limits while everyone else falls further behind

    And money laundering is so much easier !!!!

    I do not think this is going to be a good thing for the world

    People will eventually wake up and see the unstoppable events we are unleashing today !!!

    • Hubertus Bigend

      The “good thing” is that cryptocurrencies will probably face their end sooner or later, as they – in contrast to “normal” currencies – do not have an intrinsic value, making them speculative currencies by design. “Normal” currencies derive their value from the sustained capability of a country’s industry to generate return on investment, the whole industry is what is backing the currency.

      The inventors of cryptocurrencies themselves didn’t have much economic knowledge to begin with, although for them it was a successful get-rich-quick-scheme so far.

  • Les

    Blockchain is a solution looking for a problem. It also has problems of its own, like high transaction cost and delays (several orders of magnitude higher than credit card transactions, for instance).

    This may turn out to be a useful blockchain implementation: it has relatively low transaction volumes, and there is a need for authenticating/automating IP rights management. We’ve all read stories of stock photo agencies suing photographers for using their own photos on their own sites. It also solves the problem where you would gladly pay for the right to use an image, but you have no idea who to pay and how much.

  • RodneyKilo

    From reading this, It sounds like Kodak is creating a centralized (if physically distributed) database to store copyright image information.

    It sounds like Kodak is creating a method of transfer for payment other than wire transfers, checks, credit cards, although actual payment will still be dollars, euros, yen, whatever.

    If someone uses your copyrighted image, Kodak will have a process whereby they do something about it (unclear- email the offender and tell them to stop it? initiate legal proceedings?)

    Unspoken, but presumably this will be a subscription service paid for by the photographer?

    Nice and all, but other than cool buzzwords and underlying technology implementation, is the product that earth shaking? Or, what am I missing?

    • Remember the .com era? Anything and everything with .com was hot. Now the same is with blockchain. I am sure something good will come out of it and will stay just like .com, but what exactly?

  • outkasted

    Kodak like “fuggg it….what we got’s to lose!”

    • That’s exactly my thinking, they got together and said, “he have nothing else, so let’s try this” and it may actually work 🙂 at least on the short term.

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