With the rising popularity of cryptocurrency, there are now apps like pmBTCswap wherein you can buy or sell Bitcoin using Perfect Money. Bitcoin is the globe’s first digital currency that is decentralized in which its system operates without the need for a central bank or solitary administrator. Bitcoins can now be spent through online transactions with individuals and companies who accept this digital currency. This gave rise to other cryptocurrencies like ethereum and litecoin.
In the industry of photography, Kodak, one of the biggest name in the world of photography, is working on a blockchain to build a new program for digital photography together with its own cryptocurrency which they call KodakCoin. Kodak aims to release their own digital currency for photographers to get and be paid easily for their work, as well as to have more control over their and intellectual property and safeguard copyright. They will also team up with WENN Digital to execute a platform known as KODAKOne. This will utilize the technology on blockchain to underpin a digital archive recording who holds the rights to certain photos. The KODAKCoin digital currency is said to be used as a manner of paying for authorization to utilize these snapshots.
In a statement, Kodak CEO, Jeff Clarke states, “For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords, but for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem.”
In today’s era where everything is digitized and technology is more advanced, content creators like photographers find it more challenging to keep track of where their creations are being copied or replicated. This is one reason why these creators would surely embrace this platform. Kodak has also struggled in the late 90s with the transition of the market to the digital technology even though they account for more as much as 90% of camera films sales and 85% of camera sales in the US alone during its height. This pushed the company to refocus the spotlight on new technologies.