Kodak proclaims ICO, inventory jumps 44% • TechCrunch

Kodak is right this moment saying a partnership with Wenn Digital to create a “photo-centric cryptocurrency” that may “empower photographers and companies to take higher management in picture rights administration.” As a result of why not. It’s 2018.

The corporate’s inventory jumped 44 p.c on the information and is at present buying and selling at $4.30, up 37.60% on the day.

Right here’s the buzzword-filled description of the product.

Using blockchain expertise, the KODAKOne platform will create an encrypted, digital ledger of rights possession for photographers to register each new and archive work that they will then license inside the platform. With KODAKCoin, collaborating photographers are invited to participate in a brand new financial system for pictures, obtain fee for licensing their work instantly upon sale, and for each skilled and novice photographers, promote their work confidently on a safe blockchain platform. KODAKOne platform offers continuous net crawling in an effort to monitor and defend the IP of the photographs registered within the KODAKOne system. The place unlicensed utilization of pictures is detected, the KODAKOne platform can effectively handle the post-licensing course of in an effort to reward photographers.

The ICO will happen on January 31, 2018 and is open to accredited traders from the U.S., Canada and different choose nations. The coin can be referred to as KodakCoin.

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