Kodak Announces Its Own Cryptocurrency

Kodak is a name that some of you guys might be familiar with if you grew up in the 80s or 90s. The company’s brand has been synonymous with photography, such as cameras and also camera film, although in recent times Kodak hasn’t really had much luck competing with other camera makers like Sony, Nikon, Canon, Fujifilm, and so on.

However it seems that the company is hoping to continue in the photography business by launching their own cryptocurrency called the KodakCoin. This was launched together with Wenn Digital to create the KodakOne image rights platform that can trawl the web and search for copyright violations. It also helps to create a more fair and prompt payment service, where photographers are instantly and securely paid whenever someone purchases one of their photos.

According to Kodak CEO Jeff Clarke, “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.”

We’re not sure if Kodak is simply jumping on the blockchain bandwagon or if this is a future that they really see happening, but it will be interesting to see how this one pans out.

Tyler Lee
Categories: General
Tags: kodak