Century-old camera brand Kodak goes full Crypto
"Kodak to launch cryptocurrency, stock pops 125%"
Now that everybody uses their cellphones to make photo's, the camera company Kodak is looking to get in on the Bitcoin, Crypto trend. Kodak is moving from cameras to crypto - seems that this is an example of the cryptomania in action.
Kodak is investing in blockchain technology and plans to launch a "photo-centric cryptocurrency" called KODAKCoin.
As a result of this news Kodak (KODK)'s stock surged as much as 125% in trading. Looks like investors are keen to also jump on the band wagon.
With the price of Bitcoin, Litecoin, Ripple and other digital currencies skyrocketing, a diverse mix of somewhat smaller, unrelated businesses has also attempted to get in on the action and ride the wave of investor interest by setting up their own versions of cryptocurrency/block-chain projects.
Many companies have switched their core business model around to only focus on block-chain related technology:
- Long Island Iced Tea Corp. changed its name to Long Blockchain Corp (LBCC)
- Bioptyx rebranded as Riot Blockchain (RIOT) and shifted its business model from biotech to bitcoin.
- Rich Cigars, a tobacco company, and Vapetek, an e-cigarette firm, each declared they were suddenly block-chain businesses.
It seems now that also for the corporate world
'block-chain' and 'cryptocurrency' are hot buzzwords!
Buzzwords or not - it's making them money.
Kodak says it will use the block-chain for a new platform called KODAKOne to optimize their photo rights system.
KODAKCoin will be used for transactions when photographers license their work.
I wonder which company follows suit and goes Blockchain? Burger Fuel with their FuelCoins ??