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Kodak announces blockchain-based KodakCoin

Kodak saw a batch cost some-more than double yesterday after it announced a blockchain-based use to assistance veteran photographers keep lane of their egghead property. 

The proclamation of KodakCoin caused a company’s share cost to swell from $3.10 to some-more than $7 during trade yesterday, as a insanity for all things cryptocurrency continues.  

It’s not a initial association to enjoy a big stock cost spike with a trace of cryptocurrency pixie dust: The Long Island Iced Tea Company recently altered a name to ‘Long Blockchain’, tripling a batch cost in 24 hours.

The new currency, grown with Wenn Digital, will primarily be offering to accredited investors from 31 Jan in a UK, US, and Canada.

“Kodak has always sought to democratise photography and make chartering satisfactory to artists. These technologies give a photography village an innovative and easy approach to do only that,” pronounced Kodak CEO Jeff Clarke.

Cryptocurrency and Blockchain have seen a large swell in open seductiveness (though not always finish automatic understanding) given Bitcoin started to swell in value, creation some infrequent investors who had bought a few when it launched a decade ago, into overnight millionaires.

Indeed, a murky owner of Bitcoin, Satoshi Nakamoto (whoever he or she unequivocally is) is now one of a 50 richest people in a world, nonetheless it’s accepted that they haven’t overwhelmed their accumulate given 2009.

The KodakOne site that covers both a banking itself and a rights issues arising, can also hunt a web for unapproved use of a photographer’s work, that could meant we see a lot some-more in a approach of takedown orders from people who don’t know how print licencing works. 

The idea could also be practical to a song industry, with a Performing Rights Society or identical organization producing a possess chronicle for a song industry. 

Although it belatedly licensed a smartphone final year, Kodak has never unequivocally found a feet given photography went digital – something that it dabbled in, though sat on a record for fear that it would pole-axe a company’s remunerative film-making and estimate businesses.

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