Kodak Turns To Cryptocurrency And Blockchain To Protect Intellectual Property Of Photos

Intellectual rights when it comes to photos and pictures have always been a touchy issue, and now Kodak wants to get cryptocurrency and Blockchain involved. The company is basically considering using its own digital coin to help photographers protect their intellectual property. It will be collaborating with WENN Digital to make this happen.

In a press release, Kodak announced that it was launching the platform called KODAKOne in partnership with WENN, which is where the cryptocurrency KODAKCoin will be used. The platform will supposedly allow photographers or photo agencies to have much better control over who uses their pictures and for what purpose.

“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,” the press release reads.

As Futurism notes, the digital era has made it incredibly difficult for photographers to keep track of their work with regards to reproduction and intent. On top of the obvious financial aspect of the issue, there’s also the matter of photographers finding their work on platforms or being used to spread messages that they simply do not agree with.

The case of Kodak is an interesting twist in the crypto era, as well. Most existing and new digital coins are only intended to ride the coattails of the likes of Bitcoin. However, KODAKCoin has a more specific use, which is not exactly the norm in the market. This also proves how versatile the Blockchain network can be, showcasing new possibilities for its uses.