>Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform.
There is no use case that KODAKCoin meets that other cyrptos don't, except that it's owned in house by Kodak. I really hate this trend of companies trying to create their own nonsense currency and then justifying it with "blockchain is great!". If blockchain was the reason you could just transact in almost any currency that isn't bitcoin (because fees). There's no new technology here, it's just Kodak trying to ride the free money wave of cryptocurrency speculation.
Pulling rights fees automatically could be accomplished via smart contracts, and without the mess of 'debt' being involved.
Somebody was really rushed to publish this. I mean good lord the site they link to https://www.kodakcoin.com/ still has lipsum and what I can only assume are placeholder photos. Unless Jan Denecke really is a man of many faces.
Edit: Oh my god the background is an Adobe stock photo complete with watermark.
Edit2: No, Kodak you don't get to just take the site down. The internet never forgets. https://imgur.com/a/LtI2s
Something like this already exists: https://www.ascribe.io/ # I had to use it to submit some photos to a call for work a couple of years ago. After the call I wanted to delete the work, because I didn't want it hanging around in public view. Oh look! You can't! Because It's blockchain!
Immutable history is not always a compelling requirement, in fact sometimes it is at odds with many a use case.
In some respects this seems like a better application of blockchain than a lot of ICOs.
On the other hand, it isn't clear how they're going to solve the oracle problem of deciding who has the canonical rights to a given photograph.
I don't get the value in the ICO.
Photographer licenses image on KodakONE, receives KodakCOIN as payment. KodakONE uses blockchain to sell and protect the image from theft down the line. KodakONE uses lawyers to DMCA those who don't attribute or pay for the image.
Wow. Attach some Blockchain jargon to your product and get valuation pop. This is getting slightly ridiculous.
I know HN isn't too spiced up about Crypto, but it's important to realize that lots of these "cryptocurrencies" are built atop Ethereum -- that's part of what makes it magical.
This is leveraging Ethereum, to create a currency, to address a market need: photographers getting appropriate renumeration and accreditation for their work.
Picture this: you snap a photo, its hash is on a decentralized public record. If someone uses this photo, you're aware of it and can be rewarded/credited appropriately.
We can scoff at the blockchain-ization of all these applications, or realize that they really do have far-reaching implications. Whether the investors are patient enough to wait for the benefit to become actualized, though, is a whole 'nother matter.
We've hit Peak Coin.
If the cycle is:
1 photographer uploads photo;
2 photo consumer (e.g., magazine) pays USD to Kodak for photo usage;
3 Kodak pays KodakCoin to photographer;
Then it looks like a cash grab and the chances of success may be limited because there is no demand driving the price of KodakCoin.
If the cycle is:
1 photographer uploads photo;
2a photo consumer buys KodakCoins from exchange;
2b photo consumer pays KodakCoins to Kodak for photo usage;
3 Kodak pays KodakCoin to photographer.
Then it may be viable because requiring the consumer to purchase coin creates demand for the coin.
Is your stock down? Don't worry, create or invest in a cryptocoin and profit...It's cheaper than a stock buyback.
At the risk of a very low value comment...
The fact that this wasn't called KODAKoin seems like a major oversight.
I jokingly told my father-in-law he can get his full retirement now (he retired from Kodak as over 3 decades). I don't think I'll ever look at the Kodak tower again...
The only benefit Kodak has done for it's hometown is foster a entrepreneur hub in Rochester as all the people who once worked for them left to form their own companies.
Is this a landing page that was put together last minute? It seems like it. Look a the teams page, the same two people are the placeholder image for every team member. How serious is Kodak about this really?
The shtick is "efficiently managing the post-licensing process" which basically translates to automatically debiting KODAKCoins instead of issuing DMCA take-downs. Seems like a great way to throw debt collectors onto the whole IP protection mess.
Sounds like hot garbage.
Just waiting for this insane cryptocurrency bubble to pop hard. Riches are being made, but a ton of people are going to end up broke and broken, and the bigger the bubble grows the worse the popping will be.
lol, this is dumb that adding a cryptocurrency would have that profound impact on their stock. Just pay them in USD or some other currency with real-world proven value.
Easiest short opportunity of the year.
Part of me wants to call this Cryptowashing, but I don't know enough about modern photography. Is Kodak a brand that professionals use to shoot? Would they patent this "integration" so that others can't easily do it in various markets?
> WENN Digital, in partnership with Kodak, is the creator of the KODAKOne platform and the KODAKCoin cryptocurrency. WENN Digital is an experienced development and operations team with deep expertise in proprietary blockchain development, big data, copyright law, AI-enabled image recognition and post licensing monetization systems. WENN Digital has a strategic relationship with the Deloitte Analytics Institute in Berlin and the Deloitte Blockchain Institute in Munich. <
Kodak is basically licensing their brand to a company that using another company's technology. Sounds like a safe bet /s
Possible use for this not well-served by existing systems: people looking to license photos in places or communities payment processors don't serve or don't serve well can potentially use this.
The microstock sites have spent the last several years driving the value of an image down to the point where you're lucky to get 25 cents (only because it's currently the guaranteed minimum), so it's already in reach of places with low cost of living. Those are the same places where buying stock from people based in already heavily-developed places is complicated by transaction fees and anti-fraud measures.
>Get in on the ground floor
To all those wondering where the value added is, there is none. If you want to know how they solve the oracle problem, they don’t. This is a pyramid scheme, they even use the marketing language word for word.
One need only take a look at Kodak's sales in the last decade to see why this is happening. Just like we got Long Blockchain as a ploy to keep the company stock from being delisted,I'm sure we'll be seeing many more companies that are circling the drain looking to blockchain as a hail mary. This doesn't mean that there aren't legit use cases for the tech, but we're gonna be seeing a lot of shoe horning into blockchain in the coming years by failing companies.
Come on guys, this is really the sign of cryptocurrencies about to crash. "When the paper boy on the street corner is giving stock advice, that's when you sell."
>The initial coin offering...is open to accredited investors
Is this fairly common now? Most of the ICOs I've read about before were basically open to everyone.
Can somebody explain the value-add of the blockchain portion of this vs just licensing the photo by uploading to a website?
It is blindingly obvious we are in a bubble. I find it crazy that everyone cannot see it.
Have ICOs 'jumped the shark'?
Definitely starting to feel that way with solution(s) looking for problems that don't need this complexity, reinvention of the wheel, not invented here, or hype train (FOMO).
Any one remember 'e-company' phase in 1999? Looks like it is all over again. This will lead to speculation in stocks and we all know how that ends.
I'm just waiting to buy some pets.com coin
I'm sure no one will figure out how to claim other peoples photos on the blockchain..
Oh for fuck's sake
Why does every company need a coin now? Bitcoin is the standard.
Prepare for the blockchain gold rush
It's really sinister of these companies to do ICOs when the coin doesn't give you ownership of the company