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Logo of the Eastman Kodak Company (2006-2016)
White paper Template:Url
Development status Initial coin offering
Website Template:Url
Hash function Ethereum

KODAKCoin is a photographer-oriented blockchain cryptocurrency used for payments for licensing photographs. The initial coin offering (ICO) was scheduled for January 31, 2018, but was delayed for several weeks so that accredited investors could be validated.[1]

Blockchain Platform[edit | edit source]

KODAKCoin will be available to accredited investors in the United States, United Kingdom, and some other countries.[2][3][4] Working in conjunction with the KODAKOne digital rights management platform, it will serve as the currency for an encrypted, ledger of intellectual property rights ownership.[5] KodakCoin will use the Ethereum blockchain platform.

KODAKCoin is the result of a partnership between Kodak and WENN Digital.[4] KodakCoin may be a rebranding of an abandoned initial coin offering (ICO) known as RYDE, a cryptocurrency developed by WENN Digital.[6] WENN Digital is a company formed by investments from Wenn Media Group and Ryde GmbH, a German company.[4]

KODAKOne[edit | edit source]

KODAKCoin is designed to work with Kodak's KODAKOne (or KODAKOne) platform, to facilitate image licensing for photographers.[7] The KODAKOne platform uses web crawlers to identify intellectual property licensed to the KODAKOne platform, with payments for licensed photographs made using KODAKCoin cryptocurrency.[8]

Reception[edit | edit source]

Following the January 9 announcement of the new platform at the 2018 CES in Las Vegas, Kodak's stock price tripled in two days, as its market valuation increased to US$565 million, an increase of more than 300 percent.[9][10][11][12] By the end of January, one third of Kodak's shares were trading short.[1]

References[edit | edit source]

  1. 1.0 1.1 Lahman, Sean (January 31, 2018). "Kodak delays launch of cryptocurrency KodakCoin after questions arise over vetting process". The Coloradoan. Retrieved January 31, 2018. 
  2. Reynolds, Matthew (January 10, 2018). "Well done, Kodak. Now everyone stop pivoting to the blockchain". Wired. Retrieved January 11, 2018. 
  3. Travers, Julia (January 10, 2018). "KODAKCoin Empowers Photographers to License and Sell Their Work With Blockchain". btcmanager.com. Retrieved January 11, 2018. 
  4. 4.0 4.1 4.2 Ray, Tiernan (January 9, 2018). "Kodak CEO: Blockchain Significant, Though Not a Doubling in Stock Price". Barron's. Retrieved January 11, 2018. 
  5. Kodak Corporate Release (January 10, 2018). "KodakOne platform and KodakCoin Cryptocurrency". Kodak. Retrieved January 26, 2018. 
  6. Lee, Timothy (January 10, 2018). "We found a deleted page that reveals the paparazzi roots of Kodak Coin". Ars Technica. Retrieved January 11, 2018. 
  7. Yakowicz, Will (January 10, 2018). "KODAKCoin and 3 Other Ridiculous Cryptocurrencies People Are Going Nuts Over". Inc. Retrieved January 11, 2018. 
  8. Grigonis, Hillary (January 9, 2018). "KodakOne uses a blockchain and web crawlers to spot stolen images". Digital Trends. Retrieved January 26, 2018. 
  9. Shen, Lucinda (January 10, 2018). "Bitcoin Mania Just Made Kodak $431 Million More Valuable". Fortune. Retrieved January 11, 2018. 
  10. Moyer, Liz (January 10, 2018). "Kodak shares have more than tripled since company announced its new cryptocurrency 'KodakCoin'". CNBC. Retrieved January 11, 2018. 
  11. Kawa, Luke (January 10, 2018). "Kodak's Coin Propels Trading Volume Past Biggest Index ETFs". Bloomberg News. Retrieved January 11, 2018. 
  12. Fiegerman, Seth (January 9, 2018). "Kodak to launch cryptocurrency, stock pops 125%". CNN. Retrieved January 11, 2018. 

External links[edit | edit source]