For the first time since color film, Kodak might be onto something.
Provider of mobile technology since ’88. 1888.
However, before consigning KodakCoin to the scrap heap, consider what Kodak and its partner WENN digital media created the product to do. They intend to take advantage of blockchain’s distributed ledger to track the usage of photographs. If you’ve never waded into the mire of photography digital rights, consider yourself lucky. Fair, compensated use of photographs bedevils photographers and commercial entities who use photographs alike.
Also consider the larger opportunity: fake news.
Photo manipulation (e.g. Photoshop) has forced us to question the reality of a photograph since the days of Matthew Brady. Now the ability to create a realistic photograph from nothing but algorithms has started to emerge. A distributed ledger could verify that a picture of, say, Elvis shaking hands with President Nixon, really happened.
Why stop at photos? Couldn’t we use a blockchain-driven technology to allow consumers to see who actually created a news article or video? Sure, we can assume that a story appearing on the Wall Street Journal’s website really came from a WSJ reporter. However, when we see a dubious news story in our Facebook feed, couldn’t something like KodakCoin let us know where it really came from?
I can’t wait to see how Kodak–wait for it–develops this idea.