Kodak enters the Cryptocurrency market with KodakCoin and KodakOne
Looks like 130-year old well-renowned imaging company, Kodak, wants a piece of the cryptocurrency pie. The company recently announced their partnership with WENN Digital, a digital company that focuses on blockchain development, to introduce to the world the KodakCoin cryptocurrency and the KodakOne image rights management platform.
Kodak is touting their KodakCoin as a photo-centric cryptocurrency that photographers can use to partake in a new economy of photography as they can use it to receive payment for licensing their work and to sell confidently on a secure blockchain platform. This will effectively create a new ecosystem for photographers to sell their work and do business.
KodakOne, on the other hand, will utilize blockchain technology to create an image rights management platform that serves as an encrypted digital ledger for photographers and companies. The platform will then allow users to register the rights to their work securely and license them easily. Apart from being a market for imaging rights, KodakOne will also use blockchain technology to provide continuous web crawling to protect their clients IP and the intellectual property of their work.
Initial coin offerings (ICO) for KodakCoin will open on January 31, 2018 and will be open to accredited investors from the U.S., UK, Canada and other select countries.