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Kodak Announces Its Own Cryptocurrency, Watches Stock Price Skyrocket (theverge.com)

Posted by BeauHD on from the surprise-announcement dept.

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.

11 of 135 comments (clear)

  1. Interesting. by msauve · · Score: 5, Funny

    Can't wait to see what develops.

    --
    "National Security is the chief cause of national insecurity." - Celine's First Law
    1. Re:Interesting. by SeaFox · · Score: 4, Funny

      I fear lots of people will get overexposed and end up washed out financially.

    2. Re:Interesting. by LordKronos · · Score: 5, Funny

      I fear lots of people will get overexposed and end up washed out financially.

      Definitely. This might look like cryptocoin's golden hour, but the market is oversaturated. Every ordinary company is trying frame their product in cryptocoin terms, instead of just staying focused on their core product. Companies keep pulling this crap, but it's only a matter of time until they push it too far and investors see that this shit doesn't pan out they way they say it will. Once one or two fail, get ready to watch the speed at which they all shutter.

  2. Now is the time... by OpenSourced · · Score: 5, Funny

    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.
  3. Re:In semi-related news ... by ELCouz · · Score: 4, Funny

    In other news... new rapper named Blockchain see his popularity increase over 9000!!!!!

  4. Wow! Very nice by 110010001000 · · Score: 5, Funny

    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!

  5. Re:Don't have mod points by msauve · · Score: 4, Funny

    Maybe that can be fixed.

    --
    "National Security is the chief cause of national insecurity." - Celine's First Law
  6. Re: Don't have mod points by Morphine007 · · Score: 3, Funny

    Stop

    --
    Oh god, that woman is John Romero!
  7. Re: Don't have mod points by dwywit · · Score: 3, Funny

    Stop, *then* fix, if it's a monochrome blockchain.

    Colour blockchains need a bleach process in there, before or with the fix.

    --
    They sentenced me to twenty years of boredom
  8. Re: Don't have mod points by MangoCats · · Score: 4, Funny

    Too late, you're over exposed.

  9. putting the bandwagon before the horse... by Anonymous Coward · · Score: 2, Funny

    In related news, Anonymous Coward Industries has stated it will now be called Anonymous Blockchain.