Kodak Is Launching a Cryptocurrency for Photographers
Kodak Is Launching a Crypto Currency for Photographers
U.S. innovation firm Kodak has reported that it will dispatch its own Cryptocurrency. This Cryptocurrency plans to host an initial coin offering (ICO) toward the finish of January 2018.
In an official declaration, Kodak said the cryptocurrency would support “an encoded, digital ledger of rights proprietorship for photographers.” Kodak is working with an organization called WENN Digital on the initiative.
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The thought is that photographers could utilize Kodak’s prospective blockchain to enlist works, with “KODAKCoin.” The KODAKCoin working as a medium of trade on the stage. Clients can get payment in the digital money and pay for rights, as per the organization.
The unveiling marks the first run through Kodak has uncovered its enthusiasm for the innovation. The organization is maybe best known for its photography-related items. However, a bankruptcy and consequent recovery in 2013 drove the firm to concentrate more effectively on printing and digital film.
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Kodak CEO Jeff Clarke said in an announcement:
“For some in the tech business, ‘blockchain’ and ‘cryptocurrency’ are hot popular expressions. However, for the photographer who’ve since quite a while ago attempted to declare control over their work and how it’s utilized. These trendy expressions are the keys to understanding what felt like an unsolvable issue.
Kodak has constantly tried to democratize photography. The Company also make licensing fair to artists. These advancements give the photography group an inventive and simple approach to do only that.”
It’s not clear right now the amount Kodak plans to look for through the ICO. However, the organization said that the token sale set for Jan. 31 will be available to accredited investors from nations including the U.S. and Canada also.
According to Kodak: “This initial Coin Offering is issued under SEC rules. As a security token under Regulation 506 (c) as an absolved offering”.
Market data recommends that, in any event, Kodak is getting a bit of an investor windfall as a result of its declaration. As of press time, shares for Kodak are up approximately 37 percent for the day, having ascended from an opening of $3.10 to as high as $5.50 before settling down around $4.30, as indicated by Google information.