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Kodak is solving intellectual property challenges in photography

Kodak has presented a new idea to resolve the problem that photographers have in claiming ownership of the images they create. The idea -- which Kodak hopes to implement -- will use blockchain encryption technology to establish the owners of photographs so that they can receive just compensation for the images they create. Kodak wants to "reshape how we understand and manage intellectual property."

Kodak plans to establish a digital currency similar to Bitcoin, which will be used to validate transactions relating to the usage rights of photographs without the need for third-party validation by big banks or governments. Kodak wants to enforce intellectual property rights while ensuring that content and image creators get fairly paid for the art that they create.

The technology will be based off the Ethereum blockchain cryptocurrency system through the use of the KodakCoin cryptocurrency, which the company is in the process of creating. Users of the platform will be able to buy and sell rights to digital content, making their transactions with the KodaCoin.

Essentially, artists will be able to register their photographs via the Kodak platform and buyers will be able to browse and buy rights to use the photographs directly from the photographers. Kodak feels that photographs are uniquely suited to benefit from blockchain and that the digital assets created within the KodaCoin platform will serve as a groundbreaking new form of intellectual property.

Could it work? Only time will tell if Kodak is successful with this latest venture. In the meantime, photographers may need to defend their intellectual property rights the old way by pursuing financial restitution for intellectual property violations in court.

Source: The Conversation, "KodakOne could be the start of a new kind of intellectual property," accessed Jan. 19, 2018

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