The photography company Kodak uses blockchain to create a new currency called KodakCoin.
The 130-year-old company said last Tuesday that it used the blockchain technology to create a new platform for digital photography with its own currency called KodakCoin.
KodakOne is a new economy for photographers to receive their work on licensing and payments.
This advantage immediately reminds me of a good friend and follower of Lions Ground, @keremgo3d, a professional photographer from Turkey.
When Kodak made the announcement on Tuesday, the shares of Kodak jumped more than 30 percent.
The Rochester, NY, based company Kodak plans to hold an initial coin offering January 31st for investors in the US, U.K., Canada and other countries. This platform is a partnership with Wenn Digital.
Benefits
Advantages for photographers is that they can not only license their work but also receive much faster payments. It will search the internet for the use of images without permission says Kodak.
"Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that," says Kodak CEO Jeff Clarke.