Kodak's other initiative, the KodakCoin, is being created as part of an effort to build a global ledger of picture rights ownership that photographers can add their work to.
Associated KodakOne software will be used to crawl the web and find pictures that have been used without permission.
The company said it would then "manage the licensing process," so the photographer can be paid, in KodakCoin.
"Kodak has always sought to democratise photography and make licensing fair to artists," said Kodak chief executive Jeff Clarke.
"These technologies give the photography community an innovative and easy way to do just that."
The company's shares traded more than 130% above their opening price after the announcement before closing the day 119.4% higher.
But one expert had doubts.
"Storing the information in a blockchain doesn't protect your copyright any more than copyright law already does," commented David Gerard, author of Attack of the 50ft Blockchain.
"Notice how they're marketing it: they state a problem, then say the blockchain can solve it. But there's no mechanism by which the blockchain could do that.
"This doesn't do anything that signing up for Shutterstock or Getty Images wouldn't."
?
