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Kodak Joins Cryptocurrency Craze with 'KODAKCoin', Stock Surges

Kodak Joins Cryptocurrency Craze with 'KODAKCoin', Stock Surges

The coin will come into being via an Initial Coin Offering or ICO on January 18 for accredited investors in Canada, the US and elsewhere, but shares in the company immediately shot up on the news.

The idea is that photographers could use Kodak's forthcoming blockchain to register works, with "KODAKCoin" functioning as a medium of exchange on the platform.

January 9, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and blockchain portals strong Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports Today Kodak and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management.

Kodak CEO Jeff Clarke said in a press statement, "For many in the tech industry, "blockchain" and "cryptocurrency" are hot buzzwords, but for photographers who've long struggled to assert control over their work and how it's used, these buzzwords are the keys to solving what felt like an unsolvable problem".

Kodak will use a blockchain, which is the technology behind bitcoin, to track the online use of photographs licensed through its system.

Shares of Kodak soared over 41% after the KODAKCoin announcement. "These technologies give the photography community an innovative and easy way to do just that".

Kodak's platform uses blockchain technology the backbone of Bitcoin and other digital currencies that have surged in recent months and raised fears of a price bubble

The UK Treasury had previously announced its intention to crack down on cryptocurrency, however, in early December saying it would examine the regulation of Bitcoin following money laundering and tax evasion concerns.

The move comes as investors snap up virtually any asset related to digital coins or the blockchain technology that underpins them - no matter how tenuous the tie. There was also an update on Kodak's latest 360-degree and virtual reality cameras.

In the APAC region, Vietnam banned all cryptocurrencies in October under the threat of fines, while China in September banned ICOs as a ruling from the People's Bank of China labelled them "illegal".

The new service will be called KODAKOne, and it will be an encrypted, digital ledger of rights ownership.

Bitcoin app developers take note: almost 100% of Android apps contain serious vulnerabilities that could compromise user security and wallets.

Jignesh Mevani Leads 'Yuva Hunkar' Rally
The newly elected MLA also said that when he fought elections in Gujarat he always spoke about bringing people together. Earlier, scores of people gathered around the barricaded Parliament Street for the protest march planned by Mevani.


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