Kodak Launches Cryptocurrency

The American company Kodak reported that it would create its own crypto. They are going to conduct an ICO in late January, too.

In the public announcement, the representatives of Kodak explained that their currency would provide the intellectual property rights for owners. Therefore, the photographers will be able to use Kodak’s block chain for registering of works. Moreover, KODAKCoin will function for exchange on the platform. According to them, users can get the payment in the new cryptocurrency. Moreover, they could pay for the use of materials copyright.

This is the first time Kodak has demonstrated its interest in block chain technology. The company is most known for its photoproducts, although bankruptcy and later recovery in 2013 resulted in the company’s active focus on printing and digital printing services.

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Kodak CEO Jeff Clark is sure that block chain and cryptocurrency will solve the problem that taught all the photographers. The issue is to control the use of their works; and cryptocurrency is able to create fair and transparent licensing terms. However, it is still unclear what amount Kodak is going to raise with the help of ICO. Although the company stated that the sale of tokens, scheduled for January 31, would be open to the investors from different countries, including the USA and Canada.

This announcement has already brought profit to Kodak. Recently Kodak shares have risen by about 37%, from $3.10 to $5.5.

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