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  Share price doubled: Kodak now also relies on blockchain and crypto-money | Bit Updates
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Share price doubled: Kodak now also relies on blockchain and crypto-money

Thursday, January 11th, 2018 | bitcoin updates

    On January 31, Kodak begins selling its cryptocurrency.
                (Picture: Kodak)
             Kodak wants to pull up a photo marketplace with image license management based on a blockchain – including its own crypto-box called Kodakcoin. The share price rose by a whopping 120 percent after the announcement.


        Everything that has to do with digital money, especially with investors from a buying reflex: As soon as Kodak has announced its own cryptocurrency for photographers, the stock price has more than doubled. With the KodakCoin and the associated platform KodakOne photographers should be able to protect their copyright and market the images, as the company announced on Tuesday.
The stock closed in US trade with an increase of 120 percent at just under seven US dollars. And there was still no conclusion: after the stock exchange, the stock climbed to nine dollars.
Licenses as Smart ContractsThe basis for the offer is the Blockchain technology, which is also used for cryptocurrencies such as the Bitcoin. Photographers should be able to register their works as a blockchain entry, the license conditions for the images are stored there as programmed agreements (Smart Contracts). The platform should also serve as a marketplace for image sales, with the KodakCoin as a means of payment. Kodak did not mention how the users could exchange the coin for normal money.
In addition, Kodak promises to use web crawlers to detect unauthorized uses of images registered on the platform. The process of relicensing is then also "efficiently" done by the company Kodak have always tried to democratize the photography and to ensure a fair remuneration of the authors, said company boss Jeff Clarcke.
The new market – now with BlockchainAs part of such blockchain projects, the business idea can be pre-financed with an initial coin offering. Willing investors can then purchase the new coins from January 31st. Kodak did not mention details of the terms of issue, and technical details about the platform are not yet known.
There are numerous attempts to "disrupt" a specific market niche with blockchain platforms and own currencies: Lufthansa, for example, has invested in the Swiss startup Winding Tree, which intends to establish a travel market without intermediaries on the basis of the Ethereum Blockchain -CTO Brendan Eich, on the other hand, wants to roll up the online advertising business with his Brave browser and the so-called basic attention token.Time will show whether such marketplaces with their own coins are only supported by a short-lived mania or have real future potential.
The Blockchain Ice Tea The Kodak stock's jump in price again confirms that cryptocurrencies and related terms can turn investors into Pavlovian dogs: In December, the Long Island Iced Tea beverage company announced that it would rename itself Long Blockchain Corp. change. The stock price tripled immediately. In the crypto-money rally several other companies also gave names such as Crypto Company, Nodechain or Blockchain Group. What exactly they had to do with digital currencies was sometimes difficult to recognize.
Kodak had once shaped the development of classical photography, but lost the connection with the advance of digital images. The US company emerged from insolvency proceedings as a specialist for digital printing. (With dpa material) /
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