In 2012 it was a different story as they were on the verge of bankruptcy. So, what’s all the hype around the new project “KodakOne”?
Well, Kodak has introduced the KodakOne image-rights management platform and KodakCoin, a photo-centric cryptocurrency. Similar to image rights portal, Copytrack.
Kodak acknowledged in its press release that blockchain, like cryptocurrency, is a “hot buzzword” right now. However, CEO Jeff Clarke said that the technology will actually prove useful in the company’s case. He stated:
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,”
The growth of digitalisation has hit the image industry hard. Around 85% of all images online are used without a valid license and digital image theft has become the norm. For that reason, a number of image rights portals have been fighting against online image theft for years.
The project is the next milestone for the company on their mission to prevent image theft and protect the images of photographers. Thanks to Copytrack’s successful track record and their innovative roadmap the pre-sale closed raising a total of $7.6 million USD. So, it seems that Kodak’s idea is not new.
Marcus Schmitt, CEO of Copytrack, states:
It’s always been our mission to improve the protection of photographers and rightsholders online. It’s been a great recognition to be supported by over 1600 backers who have invested a total of 7.6 million USD in our vision to democratize copyright and prevent image theft for photographers – and this was just the pre-sale.”
Unlike Copytrack, KodakOne is still in the preparation stage. Schmitt went on to state 3 key differences and facts between KodakOne’s planned ICO (Initial Coin Offering) and Copytrack’s Global Copyright Register so far:
- KodakOne is a brand licensing cooperation between Kodak and Wenn Digital Inc., a Delaware company founded in Nov.2017. Copytrack has a proven track record of several years and has developed its technology fully in-house with enforcement services in 140 countries.
- KodakOne plans to solely register images on the blockchain while Copytrack’s “Global Copyright Register” is an open blockchain for any type of digital content (images, music, video, etc.).
- KodakOne’s ICO will be a closed sale that’s only accessible to accredited investors, whereas Copytrack keeps its ICO open to all investors of the blockchain and cryptocurrency community.
He went on to add that he was unable to comment on KodakOne’s technology as neither their system nor their whitepaper are available yet. He closed with:
At Copytrack we strongly believe that blockchain and cryptocurrencies set the foundation of the internet’s future. It’s exciting to be part of it and help creators protect, track and monetize their work with the Global Copyright Register. Our main sale ICO still runs until February 9th.”
There are a few positives to get involved with KodakOne. Even though Kodak hasn’t really been prominent recently, it is an existing and known brand and company. It is also highly unlikely to be a scam and they’re probably not the type to close shop overnight. Lastly, they should easily pass regulations and compliance.