Blockchain Project of Kodak Is a Fraud
February 9, 2018
Kerrisdale Capital hedge fund published a
An american technology company Kodak
Kerrisdale Capitals reported that Kodak will not be able to compete with other blockchain startups as the company "is staring at the possibility of default and a debt restructuring in the next 12-18 months."
Thus, the hedge fund claims that Kodak does not have necessary technological capacity and funding to implement KodakCoin technology, which is being designed to process transactions and store photos and videos on a blockchain.
It is said in the report:
"Kodak's cryptocurrency ploy hits all the major buzzwords – blockchain, smart contracts, distributed ledger, ICO, etc. But look through the PR spin, examine the true merits of using blockchain for the proposed service, and it's obvious the project is poorly thought out and will never work as promoted."
Kodak has not made any comments.