Kodak Announce Launch of Its Own Cryptocurrency, Shares Have Doubled
January 10, 2018
American producer of imaging products Kodak has announced at CES in Las Vegas that it will issue its own blockchain-based cryptocurrency. The company will team up with London-based Wenn Digital Group to create the cryptocurrency dubbed KodakCoin. To raise funds the company will held an ICO called KodakOne. Token sale will start on January 31.
According to the statement made by Kodak, KodakCoin will help photographers to better and faster license and sell their works. It is also reported that the cryptocurrency will provide technologies which will help to prevent unauthorized use of photographers' works.
Kodak CEO Jeff Clarke said:
"Kodak has always sought to democratise photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that."
It is noteworthy that this is not the only cryptocurrency related project of Kodak. The company also announced the release of a Bitcoin-mining machine called KashMiner. Users may rent one machine and use it for mining for two years. However, half of mining profits will be retained by Kodak.
Not surprisingly, shares of Kodak have been rising sharly since these announcements. Shares of once-bankrupt company have already doubled in light of these news.