KodakONE Blockchain Platform Is Successfully Tested
Kodak, one of the world's leading companies in the photo and video industry, is successfully testing its blockchain platform KodakONE, according to a press release.
During the tests, Kodak collected about $1 million from companies using licensed photographs and thereby violating copyright. Experts began testing the platform in the fall of 2018, and they managed to process more than 1,500 applications since that time. RYDE Holding became the operator of KodakONE, it worked together with several partner firms.
The blockchain platform uses a combination of a web scanner based on artificial intelligence and a photo recognition system in order to supervise copyrights. Besides, companies or individuals who violate copyrights may become Kodak customers if they license published images. Thus, they can avoid lawsuits.
The KodakONE platform, based on distributed ledger technology, may extend the list of its services and expand them to other digital content in the future. Entries on blockchain are protected from unauthorized access and retain ownership. Soon KodakONE will be able to store any intellectual property. The final launch of the Kodak blockchain platform is scheduled for later in 2019.
As previously reported, the Dutch company Fintage House will accept payments in cryptocurrency as payments for the use of copyright.