7 ms·

I don't get the value in the ICO. Photographer licenses image on KodakONE, receives KodakCOIN as payment. KodakONE uses blockchain to sell and protect the imag

by alvern 9y ago

I don't get the value in the ICO. Photographer licenses image on KodakONE, receives KodakCOIN as payment. KodakONE uses blockchain to sell and protect the image from theft down the line. KodakONE uses lawyers to DMCA those who don't attribute or pay for the image.

jhwang5 9y ago
The same problem can be solved if they just used Ethereum
- throwawayjava 9y ago
  The same problem can be solved if they just used a bit of PHP in 1995. The killer feature is "lawyers armed with DMCA", not the crypto-themed CRUD app.
  - jhwang5 9y ago
    Agreed. Essentially, a decentralized ledger does not give you the feature of "enforcing copyrights" for free, unless you have systems built outside of the ledger that does the enforcement. That piece can be built in the meat-world in the form of "an army of lawyers".
    - throwawayjava 9y ago
      The idea of creating a single online market-place that does the enforcement/rights management component in addition to storage/search/sale is interesting. But that's already a crowded marketplace, and it's not clear to me why Kodak announcing they're going to enter a crowded marketplace would push their stock. Especially given that the announcement is paired with an up-front admission that they're accruing lots of useless technical debt at the beginning of the project. I would be more inclined to invest in Kodak on the basis of this announcement if it didn't mention cryptocurrency at all.
- Twirrim 9y ago
  What value does the blockchain actually bring here? Why is this any different from existing methods of licensing images?
  - deleted 9y ago
    [deleted]
JackFr 9y ago
> I don't get the value in the ICO. I'd replace 'the' with 'any'.
- the_stc 9y ago
  Our ICO is really an IPO. We are selling shares in our company (unregulated security). We have a real business model, good fundamentals. And before the full ICO, we will have a working service. Cryptocurrency allows us to avoid capital and other controls to fund a venture which would be impossible to fund otherwise. But most ICOs are blatant scams trying to justify their useless tokens, Kodak included.
  - lightbyte 9y ago
    So you're trying to get around regulations that you would need to follow if you wanted to do an IPO?
    - lurr 9y ago
      Plus no one really owns anything.
      - the_stc 9y ago
        >really We issue dividends which is more than you can say about SNAP.
    - the_stc 9y ago
      More than that, our business is not legal in the US which is one of our primary markets.
      - yodon 9y ago
        So you’re adding financial crimes to the set of things you’re doing to found your company? Selling securities is a HUGE deal with tons of complex and subtle laws governing it. This isn’t because “governments are stupid” it’s because fraud in the sale of securities is so easy and such a problem. In the US it’s actually the state attorneys general and state regulators who are the most focused on this sort of thing, though the federal government also gets involved. Your jurisdiction maybe be different but this stuff carries across borders. Please, do yourself an incredibly important favor. Run, do not walk, to the nearest large law firm and tell them you’re interested in their services. Then listen to them. It will be expensive but cheaper than being prosecuted for securities fraud, which will happen because it’s a much easier way for the government to shut your company down than going through the front door. Oh, and when the word fraud is tacked onto a corporate indictment, as a good rule of thumb it means the corporate veil is peirced and they can go after your personal assets as well, not just the company’s assets. What you’re doing is a really bad idea unless you have a top law firm behind you telling you it’s ok (and even then you need to be following their instructions to the letter). P.s. if you get the securities regulatory stuff wrong, even if the governments don’t go after you your investors have almost perfect leverage to force you out of business at any time they wish, turning that 5% investor into a 51% controlling interest, simply because you screwed up your securities offering.
sjg007 9y ago
The value would be the army of lawyers to enforce your rights, that you get paid and that you can independently audit them (royalties? if the blockchain is public) ..
- sjg007 9y ago
  In fact you could probably have a movie or music coin to track royalties as well. Artists/producers might find an interest in that. Might be difficult in some sense though. I guess a transaction on the blockchain would unlock some DRM or something depending on the license.

by alvern 9y ago

jhwang5 9y ago

The same problem can be solved if they just used Ethereum

throwawayjava 9y ago
The same problem can be solved if they just used a bit of PHP in 1995. The killer feature is "lawyers armed with DMCA", not the crypto-themed CRUD app.
- jhwang5 9y ago
  Agreed. Essentially, a decentralized ledger does not give you the feature of "enforcing copyrights" for free, unless you have systems built outside of the ledger that does the enforcement. That piece can be built in the meat-world in the form of "an army of lawyers".
  - throwawayjava 9y ago
    The idea of creating a single online market-place that does the enforcement/rights management component in addition to storage/search/sale is interesting. But that's already a crowded marketplace, and it's not clear to me why Kodak announcing they're going to enter a crowded marketplace would push their stock. Especially given that the announcement is paired with an up-front admission that they're accruing lots of useless technical debt at the beginning of the project. I would be more inclined to invest in Kodak on the basis of this announcement if it didn't mention cryptocurrency at all.
Twirrim 9y ago
What value does the blockchain actually bring here? Why is this any different from existing methods of licensing images?
- deleted 9y ago
  [deleted]

JackFr 9y ago

> I don't get the value in the ICO. I'd replace 'the' with 'any'.

the_stc 9y ago
Our ICO is really an IPO. We are selling shares in our company (unregulated security). We have a real business model, good fundamentals. And before the full ICO, we will have a working service. Cryptocurrency allows us to avoid capital and other controls to fund a venture which would be impossible to fund otherwise. But most ICOs are blatant scams trying to justify their useless tokens, Kodak included.
- lightbyte 9y ago
  So you're trying to get around regulations that you would need to follow if you wanted to do an IPO?
  - lurr 9y ago
    Plus no one really owns anything.
    - the_stc 9y ago
      >really We issue dividends which is more than you can say about SNAP.
  - the_stc 9y ago
    More than that, our business is not legal in the US which is one of our primary markets.
    - yodon 9y ago
      So you’re adding financial crimes to the set of things you’re doing to found your company? Selling securities is a HUGE deal with tons of complex and subtle laws governing it. This isn’t because “governments are stupid” it’s because fraud in the sale of securities is so easy and such a problem. In the US it’s actually the state attorneys general and state regulators who are the most focused on this sort of thing, though the federal government also gets involved. Your jurisdiction maybe be different but this stuff carries across borders. Please, do yourself an incredibly important favor. Run, do not walk, to the nearest large law firm and tell them you’re interested in their services. Then listen to them. It will be expensive but cheaper than being prosecuted for securities fraud, which will happen because it’s a much easier way for the government to shut your company down than going through the front door. Oh, and when the word fraud is tacked onto a corporate indictment, as a good rule of thumb it means the corporate veil is peirced and they can go after your personal assets as well, not just the company’s assets. What you’re doing is a really bad idea unless you have a top law firm behind you telling you it’s ok (and even then you need to be following their instructions to the letter). P.s. if you get the securities regulatory stuff wrong, even if the governments don’t go after you your investors have almost perfect leverage to force you out of business at any time they wish, turning that 5% investor into a 51% controlling interest, simply because you screwed up your securities offering.

sjg007 9y ago

The value would be the army of lawyers to enforce your rights, that you get paid and that you can independently audit them (royalties? if the blockchain is public) ..

sjg007 9y ago
In fact you could probably have a movie or music coin to track royalties as well. Artists/producers might find an interest in that. Might be difficult in some sense though. I guess a transaction on the blockchain would unlock some DRM or something depending on the license.