Did you guys see the news ? ๐จ๐จ๐จ
An U.S technology firm named Kodak is going to launch a Cryptocurrency only for the Photographers !
Yes, you heard me right.
I am not joking about it.
That U.S. technology firm, Kodak has announced that it will launch its own cryptocurrency, with plans to host an initial coin offering (ICO) at the end of January.
Morever, in an announcement, Kodak said that the cryptocurrency would underpin "an encrypted, digital ledger of rights ownership for photographers."
The idea is that photographers could use Kodak's forthcoming blockchain to register works, with "KODAKCoin" functioning as a medium of exchange on the platform.
How awkward is that ?! ๐ฎ๐ฎ๐ฎ
Don't tell me that we will get to see different kind of Cryptocurrency for different people !
Here is what CEO Jeff Clarke of KODAK said in a statement:
"For many in the tech industry, 'blockchain' and 'cryptocurrency' are hot buzzwords.
But for photographers who've long struggled to assert control over their work and how it'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."
Shares of Eastman KODAK surged 40% to $4.40 on Tuesday after it announced that it had partnered with Wenn Digital to launch a Blockchain-based Image-rights management platform called "KODAKOne" and "KODAKCoin", a "Photo-centric Cryptocurrency to Empower the Photographers and agencies to take greater control in Image Rights Management."
Later, shares were trading up 83.8 percent at $5.70 for each KODAKCoin.
Kodak has joined a growing list of companies that have highten their shares by announcing forays into cryptocurrencies and Blockchain. Long Island Iced Tea, a small, obscure beverage company saw it's shares jump as much as 500% after changing its name to โLong Blockchain Corpโ.
Wow to that !
Maybe I should change my name to "BlockChain Rayne122" too. LOL
Time has become crazy. And I think it will become crazier day by day.
Let's just see what happens next.
See ya people !
And
Congratulation to all Photographer ! You get to enjoy your own CryptoCurrency now ๐๐๐
Sources:
Interesting
Yeah !
Awkward at the same time :)
That's crazy man! LOL๐
I know right ! :D
This is great, they are very smart! As well check EzToken or Beetoken. https://goo.gl/NVHYCZ I love this ICO because they are already successful investment company.
Me too :)
I am hoping for more interesting actions from them in future :)
Do they at any point explain how does blockchain solve the unsolvable problem they mention?
Either it's decentralized first-to-submit-ownes-it and it's the same situations as the patent trolls in the software industry, or it's centralized (via KODAK) and any good ol' database will do the trick.
Yes.
I think, it's decentralized first-to-submit-ownes-it and the photographer gets they're proper rights.
In that case, no one use other's photography in free, I guess.
That might work for newly taken photos that are never published until after they have been submitted to and approved by the blockchain.
But the moment the system starts, it will be flooded with claims for existing works by people that don't actually own them.
Edit:typo
That is true.
It will be impossible to identify the owners, Unless there is a way for people to prove their Existing works.
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