January 9, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and blockchain portals strong Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports Today Kodak and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management. Companies establishing new blockchain-based systems commonly launch new cryptocurrencies to serve as a means of exchanging money within those systems.
While many new companies and startups are "clawing" their way to capital and success, some old "giants" such as Kodak are also on their way to disrupt their business models and hopefully, gain market share in their respective industries. Kodak CEO Jeff Clarke said in a statement, "Kodak has always sought to democratize photography and make licensing fair to artists".
Kodak has become just the latest brand name company to jump on the crypto trend to send its stock soaring. Kodak's share price almost doubled, to $6.02, in midday trading Tuesday. It will essentially enable to securely register their piece of work and license it with the help of the platform.
With the price of Bitcoin, Litecoin, Ripple and other digital currencies skyrocketing, an eclectic mix of small, unrelated businesses has attempted to ride the wave of investor interest by teasing cryptocurrency pivots.
Kodak and WENN Digital's new photography-based cryptocurrency and blockchain system are created to help photographers benefit monetarily in a world where images are shared and used online more liberally than ever before.
KodakCoins will work as tokens inside the new blockchain-powered KodakOne rights management platform. The technology will be able to detect when images are used in an unlicensed fashion, and Kodak says those professionals will be rewarded for their work.
KodakCoin will be registered as a security with the US SEC, and the upcoming ICO is open to accredited investors across the United States, Canada and the UK among other countries.