Re:Kodak’s Dubious Blockchain Gamble
by cwkoss on Tuesday January 30, 2018 @06:51PM
(#16270198)
It's worse. There are two possibilities for how this works, neither of which bode well for the future of KodakCoin
1. Registration of an image's IP rights is automated.
Users will be able to claim the IP of images which they do not own, and use the system to fraudulently siphon payments from the true owners. KodakCoin would be enabling and cooperating in selling fraudulent IP licenses.
2. Registration of an image's IP rights is not automated.
If every image needs manual human intervention to be registered, not only is this not a decentralized system, but the costs to administrate the system will scale directly proportional to growth. Unless the average image generates more profit than the cost of human administration needed per avg image, the more popular KodakCoin becomes, the faster it loses money.
1. Registration of an image's IP rights is automated.
Users will be able to claim the IP of images which they do not own, and use the system to fraudulently siphon payments from the true owners. KodakCoin would be enabling and cooperating in selling fraudulent IP licenses.
2. Registration of an image's IP rights is not automated.
If every image needs manual human intervention to be registered, not only is this not a decentralized system, but the costs to administrate the system will scale directly proportional to growth. Unless the average image generates more profit than the cost of human administration needed per avg image, the more popular KodakCoin becomes, the faster it loses money.