Kodak, the famous photography company which went bankrupt a few years back, just became the latest company to jump on the blockchain bandwagon. The company announced that it’s launching a cryptocurrency for photographers and has since seen its stocks rise to the new heights.
The company has announced to launch the KodakCoin inside the new blockchain-powered KodakOne rights management platform: a “photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management.”
The KodakOne platform will create a digital ledger of rights ownership that photographers can use to register and license their work.
“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 CEO Jeff Clarke said.
KodakCoin’s initial coin offering opens on January 31st, to investors in the United States, UK, Canada and selected other countries.