Kodak Launched Digital Bitcoin Competitor's Money
The Japanese company Kodak launched a new digital currency in collaboration with the WENN Digital licensing company. This digital money called KodakCoin is devoted to photographers and photo agencies in order to control the copyright benefits of the work they produce.
KodakCoin's digital money will use the KODAKOne platform. By using Blockchain technology, the platform will make digital copyright encrypted. Later, the photographer will be able to register his works to get a digital license.
Kodak Management delivers, KODAKCoin deliberately created to embrace photographers in order to take part in the digital economy. The secure Blockchain platform has been set up as a place to sell photographs.
"For many people in the technology industry, 'blockchain' and 'cryptocurrency' are two key words of warmth, but for long-time photographers struggling to control the work they produce, these keywords are the key to solving what is happening , "said Kodak CEO Jeff Clarke quoted from Business Wire, Wednesday (10/1/2018).
"Kodak is always trying to make photography open to all and making licensing issues fair to artists.This technology is an innovative way for workers in the photography community," he added.
Furthermore, the KODAKOne platform also provides continuous website crawling to monitor and protect IP images listed on the system. When the use of unlicensed images is detected, the KODAKOne platform can efficiently manage post-licensing processes to reward photographers.
The launch of this digital currency gave fresh air to the company. Eastman Kodak Co. soared two-fold after the camera maker announced an expansion into the development of cryptocurrency.
Kodak's shares grew 92 percent to US $ 5.95 in afternoon trading on the NYSE.
Whereas before, Kodak shares fell to 90 percent after the company returned from bankruptcy status in 2013. Kodak is now working to change the business focus to software development and imaging technology.
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