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What is KodakCoin?

KodakCoin is a new cryptocurrency founded by the Eastman Kodak Company which also serves as a payment form in the newly built KodakOne system. This new currency, along with KodakOne, was introduced at the CES 2018 consumer electronics trade fair in Las Vegas. The initial launch of coins into circulation (ICO), and therefore the launch of the entire platform, took place in cooperation with the Wenn Media Group, London's media company, on 31 January this year.

KodakCoin

KodakOne Blockchain Platform

As indicated above, KodakCoin will be implemented as an in-house cryptocurrency in KodakOne. This system uses blockchain technology to make managing and protecting the copyrights of photographers and photographic agencies around the world easier - like bitcoin, it will be an "encrypted digital record book". Photographers can archive and add new pictures that will be protected and backed up by the blockchain network structure (a large network of computers).

i Kodak is an American multinational company, whose origins date back to the late 19th century. Over the years, Kodak has become a leading manufacturer and supplier of photography accessories and materials of all kinds, but the inability to switch to the phenomenon of digital photography in a timely manner has resulted in a significant, prolonged decline in the company.

At the same time, KodakOne will serve as a licensing platform where both professional and amateur photographers can sell licences for their photos. After the sale of royalties, the author will be paid in the cryptocurrency KodakCoin. As was shown recently, just the reports of the introduction of blockchain technology was reflected by a 120% increase in the value of Kodak's shares in a single day.

i You might find interesting:
1. Ripple (XRP). Is cryptocurrency the future or just a trap for investors? Ripple arouses passion.
2. Ethereum. Has Bitcoin been deposed from its throne?
3. Litecoin. How is it different from Bitcoin?
4. STORJ. Bet on decentralization.
5. ZenCash. Platform with an emphasis on privacy.
6. Vertcoin. A cryptocurrency targeting small miners.

Software Protects Registered Photos

Another great advantage is that KodakOne promises constant protection of all registered images. It uses special software that will search through the Internet for a specific image based on the IP address link. If it encounters an unlicensed image, it warns the author first and then helps him or her to get the royalties he or she is owed.

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