KODAKOne: a new ICO by KODAK and WENN Digital
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. KODAKOne platform provides continual web crawling in order to monitor and protect the IP of the images registered in the KODAKOne system. Where unlicensed usage of images is detected, the KODAKOne platform can efficiently manage the post-licensing process in order to reward photographers.
The company’s stock jumped 44% on the news and is currently trading at $4.30, up 37.60 on the day.
The initial coin offering will open on January 31, 2018 and is open to accredited investors from the U.S., UK, Canada and other select countries. For more information visit www.kodakcoin.com.
This initial Coin Offering is issued under SEC guidelines as a security token under Regulation 506 (c) as an exempt offering.
insane, you should add the word crypto in the title more people would get the idea ;)
They aim to give photographers the possibility to certify their work. Plus, they want to create a "new economy for photography" so photographers can "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".
How is the ownership established?
If it's first-come-first-server then it's open to abuse At least in regard to all of the currently existing work. As soon as the system goes live, it will be flooded by submissions by people that do not own the work and some of such submissions are likely to be confirmed before the real owner's submissions, what then?
If the submission has to go through trusted parties (presumably KODAK), then what's the point of using a blockhain over any ol' database with replication?
I would imagine that, since the system is going to actively be crawling the Internet for photos in order to protect those already involved, that it will have some way of determining whether new submissions (to their blockchain) will be denied after it is determined that a given photo (or piece of artwork, etc) did not originate from you. We could also imagine that this type of digital accreditation could be used for all other types of media, such as video and text. If we do that, we will be able to determine the order in which content is uploaded to the Internet, so long as that content has any kind of value that differentiates itself from all the noise of the Internet. (such as memes and similar wastes of time)
My opinion is that all blockchain technology that will end up outcompeting the other blockchain technology will outcompete closed source, centralized based blockchain technologies. That said though, this is a brilliant idea from Kodak and they are clearly first actors. However, the brilliance of decentralization is that we will be able to do the same thing as them but better and in a more open (less centralized profitable) way.
I didn't say exactly this in two of my posts, but the idea I'm expressing is similar. I would love to hear your thoughts on them:
https://steemit.com/life/@halfjew22/proposal-for-extracting-value-from-positive-behaviors-and-its-imagined-societal-impact
https://steemit.com/technology/@halfjew22/how-the-etymology-of-the-contents-of-different-media-types-and-creations-thereof-video-imagery-artwork-movies-etc-could-aid-in
I think this is pretty interesting. I’m not sure they can pull it off but it would solve a huge problem for photographers.
See how Kodak stock skyrocketed after the announcement:
This is a screenshot taken from Google showing price action of the last 365 days.
Amazing!
Their ICO site seems to have a bit more information today:
https://steemit.com/photography/@robvann/kodakone-ico-what-is-their-new-vision-for-using-crypto-currency