Kodak prepares to stand up with its own cryptocurrency

Camera and camera manufacturer Kodak, which could not keep up with the rapid digitalization process of cameras, filed for bankruptcy in 2012.

The company hopes to get back on its feet with cryptocurrencies and Blockchain technology after 6 years.

The company’s stock has soared 130 percent after launching its own cryptocurrency and a platform that uses the blockchain.

Kodak’s new currency will be called KODAKCoin and will send photos to photographers and agencies. It will allow greater control over their rights.

How does the system work?

Kodak has named its Blockchain technology KODAKOne. Photographers will be able to register and license their photos on the KODAKOne blockchain with ease.. Jeff Clarke, CEO of Kodak, said that blockchain and cryptocurrency technologies are key elements to solve long-standing problems of photographers.

Associating a company with blockchain and cryptocurrencies is the surest way to increase its stock value. Long Island Iced Tea company also changed its name to Long Blockchain in the past period, thereby increasing the value of its stocks by 5 times.

KODAKCoin’s ICO will be launched on January 31, but sales will only be open to accredited investors.

They will also be mining

Kodak will also be involved in Bitcoin mining alongside their KODAKCoin and KODAKOne initiatives. The company will give its own Bitcoin mining devices to users who want to be included in the plan for a two-year contract at $3400 for each device.. The company promises to earn at least $375 per month, but half of the proceeds will go to the company. In addition, the device given in return for the contract will be returned at the end of the contract. they did.