Did you think that Kodak is dead? Kodak announces its own cryptocurrency and watches stock price skyrocket
There’s a growing list of companies that have added language about blockchain or cryptocurrency into their names and mission statements, and it makes sense. Companies that do so see their stocks rise in value afterward. The latest company to jump on this trend is, unexpectedly, Kodak, which just launched its own KodakCoin, a cryptocurrency for photographers. As soon as the news was announced, Kodak’s stock (KODK) jumped up, and as of this writing, its stock price is $5.02, a 60 percent gain.
KodakCoins will work as tokens inside the new blockchain-powered KodakOne rights management platform. The platform will supposedly create a digital ledger of rights ownership that photographers can use to register and license new and old work. Both the platform and cryptocurrency are supposed to “empower photographers and agencies to take greater control in image rights management,” according to the press release. The digital currency is meant to create a new economy for photographers to receive payment and sell work on a secure platform.
source Bloomberg