Kodak, the company that has long been synonymous with photography, was almost completely wiped out when digital technologies replaced Kodak’s chemical processes.
Kodak’s fear of digital technology was a business that worked for them in the 1970s. until the engineer came up with the idea for a digital camera. Kodak executives got ahead of the idea, fearing that their company would go bankrupt if this technology were to emerge.. Which, indeed, did happen when others brought this technology to market, even causing Kodak to go bankrupt in 2012.
But yesterday was yesterday, today is today; Kodak is rebuilding itself by becoming a blockchain company, they started 2018 with an ICO for KODAKCoin tokens for KODAKOne digital rights management systems.. Stocks rose by 88% with this news.. But has Kodak been successful in rebuilding itself?
The idea behind KODAKOne is for photographers to register their products on the blockchain so they get paid for their use, albeit low, a form of watermarking.. Of course, there is much to be done before putting this into practice.. People really should use this system and the KODAKOne token for transactions.
To solve this problem and make KODAKOne publicly available, they announced that they have partnered with WENN Digital in four NBA and 2 NHL venues, fans will upload photos they took from matches to the system. And so they will get paid.
Details on how the system will work exactly have not been shared yet, but the most logical assumption is that a smartphone app will be developed and the captured photos and videos will be automatically uploaded to the KODAKOne system.
Thanks to this system, media channels will be able to access hundreds, perhaps thousands, of photos that they cannot see under normal conditions, where they can capture the most dramatic moments.. They will be able to use it legally without being in an uncertain situation such as citing sources from social media.. And photographers will profit from their photos, too.
More than ten million fans attend matches annually, which is a strong start for the platform.. If the idea is held, it will secure the KODAK system and Kodak will still be in a position to profit from this move, even if there are no other KODAKOne users.
CCN