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Tanuki

(14,893 posts)
Tue Jan 9, 2018, 08:31 PM Jan 2018

Oh, ffs. Kodak stock jumps 125% on announcing new cryptocurrency "KodakCoin"

http://money.cnn.com/2018/01/09/technology/kodakcoin/index.html?df
"Kodak is moving from cameras to crypto in a move likely to be viewed as a picture-perfect example of bitcoin mania.

The century-old camera brand said Tuesday it is investing in blockchain technology and plans to launch a "photo-centric cryptocurrency" called KODAKCoin.

Kodak (KODK)'s stock surged as much as 125% in trading after the announcement.
....

Kodak says it will use the blockchain, essentially a digital ledger, for a new platform called KODAKOne to help photographers manage image rights. KODAKCoin will be used for transactions when photographers license their work.

The Kodak news was quickly met with sarcasm on social media. As one reporter joked on Twitter(TWTR), it may only be a matter of time before we see the launch of "PolaroidCOIN" and "SearsCOIN."

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fescuerescue

(4,448 posts)
2. That's actually a pretty ingenious use of blockchain technology
Tue Jan 9, 2018, 08:39 PM
Jan 2018

To protect intellectual rights of photographers.

As a currency, it would be rather non-sense, but as a way to secure the claim of an image "fingerprint". I like it.

Hong Kong Cavalier

(4,571 posts)
3. From my limited knowledge of such technology, I have to agree.
Tue Jan 9, 2018, 08:44 PM
Jan 2018

This makes zero sense as an actual currency, but to protect the pictures photographers take?

It just might work.

brush

(53,467 posts)
6. Kodak is the last company one should put trust in their business instincts.
Tue Jan 9, 2018, 09:14 PM
Jan 2018

Everyone else recognized the potential of digital cameras while they were still pushing film (they even developed the digital technology but stored it in the closet so as not to damage their film business).

That company is a shell of it's once dominant self because they failed to understand the next development in image technology they had hid away.

Pope George Ringo II

(1,896 posts)
7. I understand they've been cannibalizing patents for years just to keep the lights on
Tue Jan 9, 2018, 09:23 PM
Jan 2018

Because they haven't got anything else of any value. Like an actual product, for example. A far cry from "The Great Yellow Father" days when they were all but a monopoly.

brush

(53,467 posts)
8. Yeah, they got into the digital business too late. I wonder if they've gotten in to cryptocurrency..
Tue Jan 9, 2018, 09:38 PM
Jan 2018

too late also.

Eugene

(61,592 posts)
9. They are also going into the coin mining business.
Wed Jan 10, 2018, 12:27 AM
Jan 2018

They are renting out KashMiner rigs to the public. Electricity is cheaper at their Rochester facility than at a typical home.

CES 2018: Kodak soars on KodakCoin and Bitcoin mining plans (BBC)

http://www.bbc.com/news/technology-42630136


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