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Beta test blockchain KodakOne attracted one million dollars

Beta test blockchain platform KodakOne attracted one million dollars

KodakOne is a blockchain-based platform for rights management image, developed by the photo industry giant Kodak. During the limited beta testing of the platform has raised over one million dollars in licensing claims for image rights.

Earlier media reported that the platform rights management image KodakOne established for copyright protection, monetization and distribution of images using the blockchain. Despite the fact that the project was not launched by the company Eastman Kodak, she did RYDE Holding (formerly Wenn Digital) official licensee of the brand.

When Kodak first announced the partnership with Wenn Digital, the value of the shares of the company rose to $ 13.25 per share. This step was criticized by observers who decided that Kodak is just trying to make money on ICO and the hype around the blockchain technology.

RYDE and ICOx Innovations oversaw the design and development of the KodakONE Platform and its KodakCoin token. The latter is a token ERC-20, using components of the blockchain Stellar as middleware. Platform KodakOne, in turn, uses a hybrid blockchain infrastructure along with technology Ethereum, Stellar and Hyperledger.

In October last year KodakOne has launched its beta Post-Licensing Portal (PLP), intelligent web crawler and image recognition technology to enable rights holders to track their images and rights infringements.

Artificial intelligence technology increases the data volume of the images and can predict licensing value based on similar registered images. The platform also enables rights holders to license the image retroactively to copyright infringers could become legitimate consumers.

KodakOne co-founder Cam Chell said that from one million dollars raised during beta testing of the PLP, the platform will receive about 400 thousand dollars. In the future the developers intend to integrate the KodakCoin token to platform KodakOne to have an instant settlement of the licenses and the deployment of smart contracts to manage licenses.

Cam Chell said:

"The situation in the modern photographic industry is such that even professional photographers get only 20% license fees — all the remaining funds go to manual control. However, the use of granular automation, which will provide the blockchain and smart contracts will entail the monetization of the remaining 80%".

It is known that KodakCoin was registered in The United States Securities and Exchange Commission with the use of a tool called "Simple agreement for future tokens" (SAFT), which limits sales to accredited investors.


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