Kodak yesterday announced a blockchain platform named KodakOne that will feature a token named KodakCoin. This of course sent its stock skyrocketing, likeÂ Hooters before it.
Unlike a rewards program for an oddly-themed chain of restaurants (or defunct video store), Kodak on the blockchain should provide actual solutions. And if youâ€™re a freelance photographer this may be the answer to your prayers.
According to aÂ Business Wire report, Kodak CEO Jeff Clarke said:
For many in the tech industry, â€˜blockchainâ€™ and â€˜cryptocurrencyâ€™ are hot buzzwords, but for photographers whoâ€™ve long struggled to assert control over their work and how itâ€™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.
Kodak has partnered with WENN Digital on the project and will hold its ICO on 31 January. The coin, dubbed KodakCoin, will work on the KodakOne blockchain platform to provide a completely secure method of digital rights management for photographers.
Token-holders will be able to upload new images, archive older work, and manage rights for their images on the platform. Users will be able to license work directly from the platform and, presumably, there will be other products offered in the KodakOne ecosystem.
The company will also integrate AI in the form of image recognition software. Using AI, Kodak will continuously scour the web for instances of images registered within its platform providing built-in protection for images registered on KodakOne.
Digital rights management is a perfect example of applying blockchain technology to a problem thatâ€™s remained relatively unaddressed for decades. The combination of image recognition and blockchain technology might make KodakCoin the most logical and useful token weâ€™ve seen recently.
Steven Overman, Kodakâ€™s Global Chief Marketing Officer, gave TNW this statement:
Personally, I think itâ€™s revolutionary to apply the disruptive potential of blockchain technology to empower and protect image makers, photographers and artists. Blockchain and crypto are talked about as â€œget rich quickâ€ investment vehicles â€“ weâ€™re doing something meaningful with it, for the people who create meaning in our world. This is a big deal. Science and technology in the service of human creativity and self-expression has always been at the heart of Kodak, and this licensing agreement is evidence of this ongoing mission.
Information, at this point, is still scarce. At the time of this writing, the companyâ€™s newÂ KodakCoin websiteÂ says itâ€™ll launch within the next 24 hours.