Kodak surges on cryptocurrency service to help photographers

Kodakcoin is a thing now because of course it

On Tuesday, Kodak launched the KodakOne service, a technology based on the KodakCoin cryptocurrency and created to let photographers get paid when their photos are used without a license.

Several other companies in recent weeks have been rewarded with sharp rises in share price after announcing their transformation into cryptocurrency businesses. But Kodak's new project, which involves a rights-management system for images and a related cryptocurrency, appears to be a serious effort to use a blockchain to solve a real problem. The digital token will be used to pay photographers-professional and amateur-for work that is licensed out to other sources.

Also on Tuesday, Inpixon (INPX.O) surged 9 cents or 40 percent to 31 cents per share after the data analytics company announced it would adopt blockchain technology. While Kodak may have been forgotten by some people due to the "smartphone era", the company is now entering what most technology companies can not get enough of, i.e. Blockchain and ICOs. KODAKOne platform provides continual web crawling in order to monitor and protect the IP of the images registered in the KODAKOne system.

The partnership encompasses two prongs: KodakOne and KodakCoin. There are no regulations over the creation and use of virtual currencies and the nature of the transactions make them hard to trace.

Image google
Image google

The film pioneer founded over a century ago has struggled to transform itself into an imaging software and technology company. It sold off many of its patents at that time.

WENN Digital CEO Jan Denecke said KodakCoin will be "subject to the highest standards of compliance" and is "all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new economy tailored for them, with secure asset rights management built right in".

The initial KODAKCoin offering will open on January 31 and will be open to accredited investors from the U.S., UK, Canada, and other countries.


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