A great deal of today’s global economy moves with and depends on blockchain technology, including very specific interests you might not think of, such as copyright infringement and the right to protect your valuable digital assets. With thousands of stakeholders and millions of dollars changing hands, digital intellectual property rights – and the blockchain’s role in protecting these rights – cannot be ignored.
In particular, KODAKOne has been proud to help identify digital photograph copyright infringement via their KODAKOne Image Rights Management Platform. KODAKOne is a blockchain-based image rights management platform that leverages state-of-the-art technology so that photographers and agencies can store their images and track ownership, rights, and license transactions.
The KODAKOne platform will be paired with KODAKCoin tokens, a branded cryptocurrency that facilitates simpler and faster payments. To create the infrastructure for KODAKOne’s cutting-edge blockchain and cryptocurrency project, they hired ICOx Innovations Inc. (TSX.V: ICOX, OTCQB: ICOX).
Kodak isn’t the only famous company seeking to adopt blockchain technology and cryptocurrency. As ICOx Innovations Chairman Cameron Chell explained during a recent Yahoo Finance appearance, “the resulting data, cost savings and service you can provide your customers is monumental” – and big companies are eager to get on the blockchain and reap the benefits.
Courtesy: Yahoo Finance
A recent and well-publicized example of this is Facebook’s announcement of their branded stablecoin project, which will be called Project Libra. RBC Global Markets referred to this project as a “historic initiative,” while Barclays analysts have suggested that Project Libra could boost Facebook’s annual revenues by $19 billion by 2021. [Source: https://www.cnbc.com/2019/03/11/facebooks-cryptocurrency-could-be-a-19b-revenue-opportunity-barclays-says.html]
Big companies hire the top experts in the business to build out their blockchain and cryptocurrency projects, and that’s exactly what ICOx specializes in: “At ICOx, we build digital currencies for Fortune 5,000 companies that aren’t going to go and build digital currencies for themselves,” stated Cameron Chell during the interview.
Even beyond the infrastructure build-out, ICOx helps companies navigate the complex legalities involved in introducing a new digital token: “Cryptocurrency is a highly regulated market and it’s a complicated process to integrate a cryptocurrency project with the federally-regulated banking system, acquire all of the requisite money transmitter licenses, and then build it on a blockchain infrastructure,” explained Mr. Chell.
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KODAKOne knew that they could count on ICOx to guide them through the regulatory landscape while building out the KODAKOne platform with KODAKCoin tokens. In fact, KODAKOne’s creator has just inked an agreement that will prove transformative for the digital rights market.
In a very recent statement, KODAKOne platform creator and operator RYDE Holding announced the signing of a partnership with Image Protect Inc., a global image rights monitoring platform. The partnership will integrate Image Protect’s License Recovery Unit with the KODAKOne platform, resulting in 5,000+ additional image infringement claims, 75+ new clients, and expected infringement claims of over $5 million over the next 24 months. [Source: https://www.globenewswire.com/news-release/2019/06/18/1870393/0/en/KODAKOne-and-Image-Protect-Sign-Partnership-Agreement-That-Is-Expected-to-Generate-Over-5-Million-Dollars-in-Infringement-Claims.html]
RYDE Holding CEO Jan Denecke is eager to pursue this groundbreaking collaboration: “We are very excited about our partnership with Image Protect. Together, we will continue to help protect digital storytellers worldwide. Additional cases provided by Image Protect ultimately complement and fortify our presence in North America, Europe and SE Asia.”
Image Protect CEO Matthew Goldman is equally excited to explore the massive potential of the partnership: “This integration provides an opportunity to generate and share untapped image infringement claims that will benefit both companies by generating significant additional revenues.”
These revenues are targeted to commence in August 2019 – there are literally millions of dollars in incremental revenue potential starting within the next two months. The collaboration between RYDE Holding and Image Protect is set to generate tremendous profits while fortifying the stakeholders’ market presence.
It wouldn’t have been possible without ICOx and their team of experts in blockchain technology, tokenization, and regulatory compliance. As expected, the KODAKOne platform is changing the digital rights domain as we know it – and once again, ICOx is helping to evolve the blockchain spaceand bring the technology to market.
Research Partner, PortfolioWealthGlobal.com
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Disclaimer ICOx Innovations Inc. (the “Company”) for Forward-Looking Statements
This article contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the author believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this article include statements regarding: the number of cryptocurrency wallets that will be created as a result of the introduction of Facebook’s digital coin; the effect of Cathio on the adoption of cryptocurrency; the number of people who will have access to blockchain technology as a result of Cathio’s efforts; the likelihood of The Dominican Foundation, Christendom College, The Trinitarian Order, The Center for Evangelical Catholicism and other faith-based organizations using Cathio for payment processing and donations; the Company’s expected remuneration and equity stake for services provided to Cathio; the ability of Kambista S.A.C. to provide a payment system linking Latin America to the United States and other countries; and the Company’s role in advancing blockchain technology through the Cathio project and the corresponding benefits to Cathio and the Catholic Church.. The forward-looking statements reflect the author’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the author believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include: changes in growth and size of cryptocurrency and blockchain technology market; attitude of corporations toward cryptocurrency and blockchain; business and consumer acceptance and adoption of cryptocurrency as a viable means of payment globally and in Latin America; the extent to which blockchain technology will be internationally implemented; the continued growth and success of Kambista and Cathio; potential changes for retail transactions involving cryptocurrency; the preferences of members of the Catholic Church to use app-based payment methods; changes in market conditions and other factors beyond the control of the Company.
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
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