Kodak Dives Head First Into Cryptocurrency Game | KodackCoin Available Only To Millionaires???
By now you have heard that Eastman Kodak Co. wants to set up an online DB for image rights management and set up a platform for photographers to license their work and then work to stop unlicensed work from being used on the internet. Sounds good so far.
It's unclear if a cryptocurrency is needed for this problem, so that is a discussion for another day.
What is interesting is that only accredited investors will be able to partake in the ICO. Under SEC rules, accredited investors must show 200,000 USD in income or have a net worth of 1 million USD:
The initial coin offering will open on January 31, 2018 and is open to accredited investors from the U.S., UK, Canada and other select countries. For more information visit www.kodakcoin.com. This initial Coin Offering is issued under SEC guidelines as a security token under Regulation 506 (c) as an exempt offering.
KodakCoin will be a restricted security and therefore not easily tradable. Ummm...ok.
How this will work in practice is anyone's guess right now from what I have read.
Nevertheless, Kodak's stock, KODK, doubled after their announcement which shows how desperate Wall St. is to throw their money into anything crypto.
Kryptonaut
See how Kodak stock skyrocketed after the announcement:
This is a screenshot taken from Google showing price action of the last 365 days.
Amazing!
Right...adding blockchain to your business will attract wall st. money.
Yeah, seems to be that easy... pff
Really interested in this ICO (and telegram's too)
The Telegram ICO is already hyped. Going to be big.
Seeing past mistakes of Kodak and its entry timing into crypto, I would not approve its vision.
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
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