KODAKOne to Build Blockchain Payment Solution on Stellar

KODAKOne to Build Blockchain Payment Solution on Stellar

Blockchain News
July 20, 2018 by Henrik Bliss
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KODAKOne, a blockchain-powered image rights management platform, has announced that it will develop its payment solution using Stellar’s distributed ledger technology, ICO Examiner reported. Earlier this year, photography giants Kodak in conjunction with WENN digital launched the KodakOne platform and its own digital currency KODAKCoin. In an update posted on LinkedIn, Volker Brendel, CIO at
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KODAKOne, a blockchain-powered image rights management platform, has announced that it will develop its payment solution using Stellar’s distributed ledger technology, ICO Examiner reported.

Earlier this year, photography giants Kodak in conjunction with WENN digital launched the KodakOne platform and its own digital currency KODAKCoin.


In an update posted on LinkedIn, Volker Brendel, CIO at Wenn Digital, said:

“We are supporting the stellar protocol for any kind of payment transactions in the KODAKOne platform.”

Brendel also clarified that KODAKOne would not use the ICO related ERC20 token, adding that it is a security token and not the platform utility token. He further revealed the platform’s “multi ledger architecture”, which will have one hybrid token, the KODAKCoin.

“It [KODAKCoin] is a pure utility token,” he added. The final phase of KODAKCoin token offering kicked off on May 21, 2018.

Furthermore, KODAKOne also uses some parts of Hyperledger, Brendal said, to handle the licensing and on chain transactions and rules with Hyperledger Fabric and chain code in go.

Also Read: Gulf Countries to Use Stellar For Cross-Border Payments

The team also plans to ensure flexibility in the underlying blockchain technologies to support other blockchain protocols. To that end, Brendal noted that they are currently looking into NEM and EOS blockchain.

KODAKOne recently secured two major partnerships – one with the Oak View Group (OVG) and six NBA, NHL and concert arenas; and the other with two-time Formula 1 World Champion Fernando Alonso. The company said the Beta version of the platform is expected to launch at the end of 2018.

 


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