The leader of the global photography industry, Kodak, has announced its intention to create its own cryptocurrency. According to the authors of the idea, KodakCoin will simplify the process of getting money for the work done by photographers, and will also help them to monitor the observance of copyright.
The project partner, WENN Digital, will assist in the implementation of the KodakOne platform, which in turn will help launch blockchain technology to create a digital registry where the authors' rights to individual photographs will be documented.
Cryptocurrencies are expected to become a means of payment for their use. In the digital age, it is increasingly difficult for professional photographers to track their copyright infringements, so they are ready to vote with both hands to implement KodakOne.
Until now, most of the well-known cryptocurrencies are just a means to create competition with bitcoin. Recently, however, there has been a trend towards more specific uses of blockchain technology - for example, in stock exchanges, in the trucking industry and in the entertainment industry.