Kodak and WENN Digital Announce ICO to Put Photo Licensing on the Blockchain
THE BLOCKCHAIN, January 11, 2018 by Alex Behrens
Kodak, in collaboration with licensed partner Wenn Digital on Tuesday announced the upcoming launch of the KODAKCoin initial coin offering (ICO) and the KODAKOne image rights management platform. KODAKOne will create an encrypted digital ledger that both professional and amateur photographers can register and license their work, then use KODAKCoin for immediate payments within a secure blockchain environment.
Through the licensed partnership with WENN Digital, The KODAKOne platform will provide continuous web crawling services to detect unauthorized IP usage and offer an efficient post-licensing process to ensure photographers are compensated. WENN Digital operates primarily in the realm of blockchain development, big data, AI-enabled image recognition, and copyright law.
WENN Digital CEO Jan Denecke said in a statement, “Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KODAKCoin. Subject to the highest standards of compliance, KODAKCoin 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 KODAKCoin ICO launches Jan. 31, 2018, and is open to accredited investors from the US, UK, and other select countries.
Kodak CEO Jeff Clarke concluded, “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.”