by Nancy E. Wolff and Kyle Brett.
On January 9th, Kodak announced its intention to enter the cryptocurrency craze by developing a blockchain-based service that presumably allow participating photographers to get paid each time their licensed work is used on the Internet without their prior consent. As described on the companyâs website, the digital platform, currently referred to as KODAKOne, will âprovide continual web crawling to monitor and protect the [intellectual property] of images registered in the KODAKOne system.â Upon detection of an unlicensed use, Kodak will manage the post-licensing process and (i) have the picture removed, or (ii) compensate the participating photographer in the companyâs own currency, referred to as KodakCoin. By December 11th, the companyâs stock had more than tripled.
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