KODAKOne Blockchain Turns $1 Million Profit During Beta Test

Author: 
Dylan B
Date: 
January 09, 2019
Read time: 
2 Minutes
KodakOne
Blockchain
decentralization

KODAKOne, a blockchain-based image rights management platform operating under its parent company KODAK, was recently reported to have produced around $1 million in licensing claims for image rights when it underwent a limited beta test to see how well the platform worked.

KODAKOne, a blockchain-based image rights management platform operating under its parent company KODAK, was recently reported to have produced around $1 million in licensing claims for image rights when it underwent a limited beta test to see how well the platform worked.

KODAKOne, otherwise known by the extended name of KodakONE Image Rights Management Platform, is a platform dedicated to image copyright protection, monetization, and distribution, which it achieves through a decentralized platform and their own token. The KODAKOne blockchain is made up of a combination of technology inspired by Ethereum, Stellar, and HyperLedger, making for an efficient and secure platform.

In October of last year, KODAKOne released the beta version of Post-Licensing Portal. This product searches the web and utilizes image recognition technology that allows image owners to find out where their images are being used and whether or not the person using their work is violating copyright laws. In addition, the KODAKOne blockchain implements artificial intelligence technology that helps to enrich data and predict licensing value based on images that are similar to the owner’s. Overall, this helps to identify where people may have not paid for work and gives them the opportunity to turn into lawful customers after being identified by the program.

cryptomaniaks

To explain why this is so important, one need only look at the current licensing statistics. According to the co-founder of KODAKOne, Cam Chell, professionals in the photographic industry are only managing to collect approximately 20 percent of licensing fees in the market. (In part, due to the fact that it is costly to manually do everything on their own.) With KODAKOne blockchain, those in the industry may be able to make sure that the rest of the licensing fees are paid as well.

The beta test was extremely successful, as can be seen by the massive profit made by licensing claims, giving users a glimpse into the potential that KODAKOne may have over time.

At the moment, KODAKOne blockchain is focused on developing and integrating their ERC20 Token, KODAKCoin, into the platform to allow for instant license settlement as well as working on the deployment of smart contracts that can scale license management. More information about the project can be found on the KODAKOne website.

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Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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