Hieee!!
Woke up this morning and downing my cup of morning coffee as I'm reading the news. Then I saw this:
Kodak currency
Kodak's other initiative, the KodakCoin, is being created as part of an effort to build a global ledger of picture rights ownership that photographers can add their work to.
Associated KodakOne software will be used to crawl the web and find pictures that have been used without permission.
The company said it would then "manage the licensing process," so the photographer can be paid, in KodakCoin.
"Kodak has always sought to democratise photography and make licensing fair to artists," said Kodak chief executive Jeff Clarke.
"These technologies give the photography community an innovative and easy way to do just that."
The company's shares traded more than 130% above their opening price after the announcement before closing the day 119.4% higher.
But one expert had doubts.
"Storing the information in a blockchain doesn't protect your copyright any more than copyright law already does," commented David Gerard, author of Attack of the 50ft Blockchain.
"Notice how they're marketing it: they state a problem, then say the blockchain can solve it. But there's no mechanism by which the blockchain could do that.
"This doesn't do anything that signing up for Shutterstock or Getty Images wouldn't."
Even so, some think Kodak will not be the last household name to associate itself with an ICO.
"I expect we are going to see more major brands releasing their own tokens and currencies to support various products and services," commented Mr Hileman.
"It's something many big companies are thinking very hard about."
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source:
http://www.bbc.com/news/technology-42630136More info:
https://www.coindesk.com/kodak-launching-cryptocurrency-photographers/Sounds pretty good. I know there's already POET coin for this similar purpose, but Kodak has brand value. Although it was a failed photography company (for failing to adapt digital cameras during the early boom) and had filed bankruptcy some time ago, its brand name is still trustable and loved by photographers.
On the other news, I am happy that Kodak is finally making initiatives to new markets to be profitable again (Make Kodak Great Again).
I've signed up for their newsletter to receive updates about this ICO. You can sign up here if you want:
https://www.kodak.com/kodakone/default.htmP.S: I've also included the drawbacks of the coin as it has a point. So it is up to you to decide whether it would be a hit or not :p