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Kodak Announces Its Own Cryptocurrency, Watches Stock Price Skyrocket (theverge.com)
Kodak has joined the cryptocurrency craze by launching its own KodakCoin, a cryptocurrency for photographers. As soon as the news was announced, Kodak's stock (KODK) jumped more than 60 percent. The Verge reports: KodakCoins will work as tokens inside the new blockchain-powered KodakOne rights management platform. The platform will supposedly create a digital ledger of rights ownership that photographers can use to register and license new and old work. Both the platform and cryptocurrency are supposed to "empower photographers and agencies to take greater control in image rights management," according to the press release. The digital currency is meant to create a new economy for photographers to receive payment and sell work on a secure platform. But while Kodak's proposed blockchain-powered platform and virtual coin sound good on paper, it's not clear why the photography company needs to use blockchain to achieve its goals, rather than just create another social media platform instead. It appears that Kodak, like the other tea and vape companies that received media attention last month for making the abrupt leap to blockchain, could just be trying to capitalize on the current cryptocurrency mania.
The modern version of a "Kodak moment" is when you realize your crypto-currency just lost all its value.
Table-ized A.I.
Can't wait to see what develops.
"National Security is the chief cause of national insecurity." - Celine's First Law
It appears that Kodak, like the other tea and vape companies that received media attention last month for making the abrupt leap to blockchain, could just be trying to capitalize on the current cryptocurrency mania.
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It must have been something you assimilated. . . .
It is kind of sad to see this. Kodak was once synonymous with photography. Then they developed digital photography, patented the technology, and sat on it for fear of disrupting their lucrative film business. Others eventually developed digital photography as the patents expired and Kodak obstinately clung to their film business. In the end, they went down with their ship and all they had left was some patents, which it turned out weren't worth as much as they thought they were.
I really hope that they turn things around, but this sort of thing is sad, like watching a formerly successful businessman rooting around in the garbage looking for aluminum cans to sell for recycling.
Cryptocurrencies look like they might have some promise, but the way everybody is trying to jump into the space just smacks of a gimmick.
Now is the time for BLOCKBUSTER to join in. That name is just begging to be converted to something-crypto-something-blockchain-something.
Rome taught me patience and assiduous application to detail. Virtues which temper the boldness of great, general views.
Win, win and go direct with the same brand trusted payment when you have your camera or movie related digital files, film with the same brand.
No CC banking percentage to take away from every payment.
Domestic spying is now "Benign Information Gathering"
That sure is starting to look like the good pump & dump strategy with the ignorant masses who can't understand that these coins won't ever be secure or distributed...
The money to be made isn't in the coins themselves, but the transaction fees.
Even if the coins are worthless, enough trading volume will generate some sizeable revenue.
One of our competitors trademarked the term "hypothesis". From now on, we will call them "boneheaded ideas".
Seriously, do this companies not have any serious business to attend?
Reading through the Kodak announcement, there is a website to eventually sign up for more details as a photographer - but clear directions on when investment will be opened. So how can anyone invest in a service where the use is utterly undefined?
"There is more worth loving than we have strength to love." - Brian Jay Stanley
SlashCoin - the least valuable cryptocurrency
Blockchain Blockchain Blockchain Blockchain Blockchain Blockchain Blockchain Blockchain Blockchain cryptosomethingorother cryptosomethingorothercryptosomethingorother cryptosomethingorother cryptosomethingorother blockchain blockchain cryptosomethingorother
There my wallet/money clip should now increase by at least 60%
Capatcha decree
Because cryptocurrency trading requires significant computational resources to occur quickly, expect the same developers and traders who created hi-frequency trading to invest their time and money in cryptocurrency arbitrage. With the current wildly fluctuating currency prices, it leaves them opportunities similar to those in hi-frequency trading on the NASDAQ and other stock exchanges to engage in precisely the same draining of consumer profit out of cryptocurrency arbitrage that these companies perform in more standard currencies and stocks.
It closed 116% higher and up another 46% in the after hours market. The Golden Times are here now, and they will never end. You can count on it!
I'm not sure the majority on here are old enough to get this.
It's an old scam. And if you're at the front of it doing a so-called "initial coin offering", you can make a lot of money for nearly zero effort. We play hot potato and when the music stops if you still haven't liquidated, you're fucked.
this is dum, bitcoin is dum, kpletocurrency is dum
kodak is dum
y u dum kodak?
It seems the crypto-currency movement is lacking sufficient organization and lacking careful communication.
This summer, will children be selling their own crypto-currency in front of their houses?
This pisses me off for two reasons. First, it's incredibly dangerous. Second, I've been sold the idea that the insane profits from the stock market are warranted because the people running it are making tough decisions and that it's their leadership and brains that drive it (and all of modern business) forward. This shoots all kinds of holes in that.
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We should create TulipCoin, SnakeOilCoin, 1929Coin, and 1984Coin.
The United States deficit could be eliminated if the IRS would simply announce they are using blockchain. Just saying.
What kind of fucking insane russomexican jenk do you need to huff to get excited about an industry-specific cryptocurrency?
This is actually a pretty good idea, but it is still a Private Copywriting scheme, and these have always failed for the Photographers. This is also like Watermarking Software/Services; as there are no National/International Watermark Registration Offices, there is no force of Law behind them. Federal Force of Law is behind _Registered_ Copyrights, Trademarks and Patents. Note that each country has different means of dealing with these; in the US:
"...Copyrights on individual Photos, or any group of Photos, can also be Bulk Registered for $35 Online, $85 by Mail at the US Copyright Office using Form VA, (As of 2017...). One Photo or 750, it's the same price in total- $35/$85 for all."
Copyright infringement of unregistered images rarely carries penalties beyond the potential monetary loss in a State Court; if a newspaper typically pays $25 for a Sporting page image, that is all they'll pay for infringing a Blog... after being sued. Lawyers rarely handle Unregistered Copyright Infringements.
US Copyright Law is in flux, as there are no easy means for Searching. For instance, if you wish to legitimately use an image found online for Commercial purposes, you had better hope that the Photographer had put Copyright and Contact information in the EXIF. Unfortunately most Photographers are as dumb as a box of rocks on these issues, and online Publishers like Facebook often strip EXIFs and insert their own dubious identifiers in the IPTC Header anyway, (A long string starting with "fb...".)
Trademarks are much better settled. A Trademark is a unique _visible_ Graphic Inserted in an image. The fee for USPTO Registration is high, between $100 and $600 depending on circumstance, but it only needs to be done once for an unlimited number of images, and Trademarks are easily searchable online. Compared to some Copyright Issues, (Slater/ "Monkey Selfie"), Trademarks are taken seriously, ("Pilot Pen vs. Palm"), and Registration carries International protections.
If Kodak/WENN make a real effort to fold recognized Registered Copyright/Trademark conventions into a traceable/searchable Blockchain technology, where for the first time Photographers get a piece of the pie, this would be just ducky. But I suspect, knowing about both entities, that whatever they come up with will be closed, proprietary, unregistered, and with no guaranteed legal rights for the Artists, just for Kodak/WENN, just as it always is.
Ob. IANAL: Even if I was a Lawyer, Law here varies from State to Country to Continent. Slater, a Brit Photographer, took/arranged a Photo of an Indonesian Macaque. But since he Self-Published in San Francisco, PETA went after him there on behalf of Monkey Copyrights. Meanwhile Wikipedia held that no Copyright existed at all.
And you thought Patents were a mess...
I made a Slashdot token using the Waves Platform. Paste your waves address below and I will airdrop 100 coins
What's next? Perhaps an online exchange to trade between frequent flyer miles, Marlboro miles, Schrute bucks, and various bitcoin knockoffs.
Will be called YoshiCoin and come in varieties gold, blue, red, and purple. It will be the exclusive currency for Nintendo eShop purchases.
Nintendo no longer doomed.
Kodak used to do a lot of work in medical imaging back in the day. A company I worked for had them bid on a project and when another company won the contract they filed a lawsuit over intellectual property claims. Don't waste a dime or a minute of your time on any bullshit these trolls have to offer. In fact I would bet dollars to donuts they acquired the technology backing their cryptocurrency play via underhanded means.
I saw their brochure. They're renting you a shitty Antminer S3 which you can buy for $1500 flat out for like $3,000+ AND they take half your bitcoin mined.
Still waiting on Serviscope_minor to wake up to fucking reality and realize that Jessica Price isn't going to fuck him.
This is insane. Everybody doing their own crypto currency. What happens if each and every human have their own crypto coin?
Sorry guys I have no time to ponder on that, I gotta go, will build my own cryptocoin now.
...but all you need is a fancy buzzword laden website, hosting a buzzword laden white paper with no real details, right ?
Then you need some sort of small company with a bank account, and then advertise your ICO and watch your bank account fill up ?
Thats about it, yes ??
Like, you dont even need to actually write/run any code, correct ??
A dead company thinks they can jump on the crypto train and make something out of their poor nosiness model days.
Bitcoin this and that - company 'does' bitcoin and its stock goes ballistic. The other one is that the good ride on stock market will continue. In some cases accompanied by dismissing the fact that we are historically in area just before crash. I wonder if it goes bang this year or next. I go for this one,. I recall reading how financial instruments 'disconnect' from real market just proved that we are in new era. That was end of 2007 and first half of 2008. OC I do not know it. I just see some signs. Let see if there will be indeed a big bang this year and if so how big the mess will be. ECB is still throwing billions into the market. EU Target2 still looks like a disaster waiting to happen. Good day everybody.
This is it guys. We've jumped the shark. Sell now if you're still holding.
if Apple, say, launched a cryptocurrency supported by its hardware infrastructure and cloud, i would jump on board.
They are big enough, with enough liquid capital to smooth out speculative spikes, to take the leap from last decade’s “Apple Pay/Wallet” to a modern blockchain and value symbols. A massive shakeout will happen soon in the crypto currency world and Apple is one who could survive.
This ought to be an all-hands-on-deck project. Pre-crash, the project will pay for itself with crazy speculation, in the long term, as a principal survivor, the payoff will be even greater.
Dad, can I borrow $20? $14 ? Why do you need $24?
Has slashdot collectively become that dense or are you all purposefully playing dumb so you can tell your stupid jokes? This is clearly not a currency or money play in more of a chain of ownership four rights holders. For f*** sakes it says it right there in the summary.
This could be an excellent way of proving what individuals or organizations actually acquired rights to use my photo or not. In the age of Twitter or Facebook a freelance photographer could really benefit from this. You could also easily imagine photo printing places like Target in the future requiring a private key entry to prove that you're a rights holder of the photo. And with that I think I realize why so many people don't like this idea. Let's not pretend this community doesn't have a culture that likes to just take things that don't belong to them and say it's okay because it's digital.
If dumb investors are willing to throw good money at anything that has .com^H^H^H^H blockchain in the name, then it seems smart for Kodak to take the cash.
They seem to need it, and the investors apparently don't.
Just hope Kodak has provided enough disclaimers to come out ok when blockchain drops out of fashion.
1) establish blockchain buster
2) sell stocks when they rise
3) profit
4) run faster than hst
In related news, Anonymous Coward Industries has stated it will now be called Anonymous Blockchain.
If you read the PR and website it looks a bit too sleek. I wondered which ad agency had gotten Kodak to buy in (providing its name and perhaps not much else). Apparently Deloitte's blockchain solutions division hired Wenn Digital to build it. Unfortunately since they also use the buzzword "artificial intelligence" without clarifying what it does, one wonders if there is enough useful functionality being delivered and will they have the stamina to build it over the long term. Some photo agencies spend money to be ahead of the curve but in general the industry is slow to change. The part about doing web spidering to find photo usage might sound good to photographers but honestly? This assumes you are selling limited term web usage which is going to be very low price. The site is buzzword heavy and light on specifics, such that it looks like a sales campaign of Deloitte's more than Kodak doing anything. Might be great but then again might disappear in a puff of vapor.
Please, I shutter at the thought.
Because decentralization means Kodak the company could disappear overnight but the tech would keep working, that's why. Dummy. Am I alone in thinking the future isn't centralized? Even the big companies can't be trusted to keep URLs working.