Kodak launches its cryptocurrency Kodakcoin

It will be called KodakCoin and will allow photographers to exchange money and manage the rights of their images. The title flies to Wall Street

Hit by the Darwinian law of technological evolution, will Kodak return to its former glory thanks to the last revolution in the Bit world? Yes, let's talk about her, the famous blockchain. That is the technology that underlies bitcoins and other cryptocurrencies. And so the group, once famous for its photographic films and now repositioned on services for digital images after the failure approached in 2013, will launch its photo-centric cryptocurrency. It will be called KodakCoinand will allow photographers to exchange money and manage the rights of their images. The digital currency will be accompanied by KODAKOne, a platform designed to "give photographers and agencies more power to take greater control of their rights to images". The magic word, blockchain, did not disappoint. The title of Kodak, for months sleepy and without jolts, has jumped by 45% with the announcement, and then travel around + 103% to $ 6.32. His shares had returned to being traded on the New York Stock Exchange in October 2013 after a delistig which occurred 22 months earlier in the wake of a bankruptcy that forced the company to change its skin. At this time the Kodak action rises by 103% to $ 6.32.

KodakCoin will be offered from January 31 to accredited investors in the US, UK, Canada and other selected countries as part of a so-called Initial coin offering (iniaziale money supply) in accordance with the rules of the American Consob. Eastman Kodak has gained 34% since the beginning of the year but has lost 73% in the last 12 months. It is not the first time that the power of the word blockchain multiplies the stock market values. In October, the On-line Plc incubator was renamed On-line Blockchain Plc and its shares went in a few hours from 16 to 80 pounds. Same effect in December, with the title of a beverage manufacturer (the Long Island Iced Tea Corp) spiked by 503% when he decided to become Long Blockchain.

In this case, however, it is not just the attempt to get on a running train. In the world of photography, the blockchain could solve a long-standing problem: that of image rights . The CEO of Kodak, Jeff Clarke, has in fact explained that "for many in the technology sector, 'blockchain' and 'criptovalute' are words that are fashionable but for photographers who have struggled to keep their work under control and how it is used , those words are crucial in resolving what is perceived as unsolvable ". According to him, "Kodak has always tried to democratize photography and make fair licenses for artists" and these technologies give the photography community "a new and innovative way to do it". Ciribiribì KodakCoin.