Kodakcoin (cryptocurrency)

2018: Creation of cryptocurrency

On January 9, 2018, Kodak announced its own cryptocurrency, after which the company's quotes jumped 92% on the New York Stock Exchange.

Cryptocurrency is called Kodakcoin. It will be used for royalties to photographers and agencies through the KODAKOne blockchain platform, which is also developed by Kodak. It is designed for professional photographers and will become a kind of register of ownership of photo works.

Kodakcoin will allow interested photographers to take part in the new economy for photographic materials, receive payment for a license to use their work immediately after sale, and confidentially sell work on a secure blockchain platform, Kodak said.

Kodak shares rose in price almost amid news of the creation of their own cryptocurrency

At the end of January 2018, the primary placement of KODAKOne tokens (ICOs) is scheduled. It is planned to attract investors from the USA, Canada and some other countries to the investment transaction. The amount of funds that Kodak intends to raise within the framework of the ICO is not specified.

KODAKOne will register copyrights in partnership with Wenn Digital. The company also intends to monitor the illegal use of customer work, but it does not specify exactly how this will happen.

For many in the technology industry, blockchain and cryptocurrency are hot words, but for photographers... these words are the key to solving seemingly unsolvable problems related to copyright protection, "said Kodak CEO Jeff Clark.

Kodak was not the only company that launched its own cryptocurrency, which attracted investor interest. The  same was done, for example, by the cold tea manufacturer Long Island Iced Tea, which was eventually renamed Long Blockchain Corp.^[1]

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