Blockchain technology is changing the way photographers protect their creative endeavors online. Realizing the potential of blockchain technology, Kodak — the imaging products company has recently announced KodakOne. Through the platform, the company provides an option for people to buy and sell photographs using cryptocurrency. The reward: a huge stock spike of over 300%.
But what’s the reasoning behind Kodak’s planned move to seize the blockchain moment? Is the product worthy of the victory over skeptics? How does KodakOne compare to Copytrack, an already established blockchain based image search and copyright enforcement service provider?
Copyrights and Copytrack
About 85% of images online are used without a valid license from the copyright owner. Rapid digitization is quickly turning digital image theft into a norm. In the current system, copyright infringement is difficult to pursue and are often considered a trivial offense. In contrast, Copytrack is creating a system called the Global Decentralized Copyright Registry which links digital intellectual property to their respective copyright owners. This process happens under a unique ecosystem which creates a new system which efficiently authenticates digital licenses for right holders to protect their work and benefit from their creations. Copytrack is currently holding its token sale which is expected to run through to 9th February 2018.
KodakOne: An Entirely Different Use case
On the other hand, KodakOne’s image rights management platform will be designed such that it creates an encrypted, digital ledger of rights ownership for photographers to register both new and archived work that they can then license within the platform. KodakCoins, the platform’s own token, will be available for purchase beginning 31st January in an initial Coin Offering. This will allow participating photographers to receive payments on the use of their work and sell their work confidently on a blockchain network. KodakOne is the product of a licensing agreement between Kodak and Wenn Digital inc., a Delaware based company that was founded in November 2017.
It Is Not Just About Images on Blockchain
Different from Copytrack, Kodak has now embraced the digital ledger technology with its flagship KodakOne program which will be rolled out soon. This is different from Copytrack which already has a proven track record earned over a number of years and in the process of developing a technology in conjunction with other enforcement services in around 140 countries. In addition to this comparison, the KodakOne’s plan outlines the provision to solely register images on the blockchain while its counterpart, the Copytrack’s Global Copyright Registry is an open blockchain designed for any type of digital content, including music, and videos among others.
Just Another Crowdsale?
KodakOne’s ICO is set to be a closed sale which will only be accessible to accredited investors while the Copytrack token sale is open to all who wish to invest on the blockchain as well as become part of the cryptocurrency platform. Technical details on the KodakOne are yet to be released, however, judging by the early entry of Copytrack, KodakOne has a lot to catching up to do. At the moment, Copytrack is the undisputed champion in blockchain based copyright infringement. The Global Copyright Registry helps creators, in general, to protect, track and monetize their work under an existing platform.
More information about Copytrack is available at – https://www.copytrack.com/