KODAKOne Uses Blockchain Technology and Cryptocurrency to Manage Image Rights
Posted by Rebecca Blake on March 15, 2018
On January 9th,at the 2018 Consumer Electronics Show, Kodak announced the image rights management platform KODAKOne, created in partnership with WENN Digital. The platform will utilize blockchain technology to permit photographers to register, manage, archive, and monetize their images seamlessly from a single platform. Photographers will be able to license their work using the KodakCoin cryptocurrency. The platform will also assist photographers in getting unlicensed users to license the images.
The blockchain technology will create an “encrypted, digital ledger of rights ownership for photographers”. Blockchain creates a “block” of transactional records linked into a “chain” by hash functions, essentially creating a digital fingerprint that follows a file as it travels the Internet. Image transactions and licenses will be stored in a decentralized database. KODAKOne will also provide web crawlers to detect the unauthorized use of images, after which the platform will manage the “post licensing process,” as KODAKOne describes it. Payments for image use will occur immediately in KodakCoin.
Kodak’s announcement generated a great deal of excitement, at least among investors; shares of Eastman Kodak stock more than tripled after the announcement. How effective the platform will be in addressing photographers’ (and visual artists’) IP management needs is still in question.
As Nancy Wolfe and Kyle Brett wrote on the DMLA blog, previous attempts at creative rights databases – for example, the Global Database Repertoire for music rights – have failed. Additionally, questions remain on how KODAKOne will address infringements. Will infringers be asked to pay for the infringement, and if so, will that amount be a reasonable licensing fee?
The ICO (Initial Coin Offering) for KodakCoin has been delayed from the original January 31stopening. Because of US regulations, the over 40,000 investors who are interested in joining the token sale must be thoroughly vetted by Kodak. KODAKOne promises that progress is being made on the ICO, and that presale rounds will shortly close. Interested visual artists can subscribe to KODAKOne’s email list to receive news on the platform.
How to Start your Very Own Communication Design Business!
Enter your email address below to receive a FREE download of "Starting Your Own Communication Design Business" written by Lara Kisielewska.
By signing up you will receive our monthly newsletter and occasional e-mails about our advocacy work. You will have the option to opt out at any time.
Looking to keep up with industry trends and techniques?
Taking your creative career to the next level means you need to be up on a myriad of topics. And as good as your art school education may have been, chances are there are gaps in your education. The Guild’s professional monthly webinar series, Webinar Wednesdays, can help take you to the next level.
Members can join the live webinars for FREE - as part of your benefits of membership! Non-members can join the live webinars for $45.
Visit our webinar archive page, purchase the webinar of your choice for $35 and watch it any time that works for you.