An U.S technology firm named Kodak is going to launch a Cryptocurrency only for the Photographers !
Yes, you heard me right.
I am not joking about it.
That U.S. technology firm, Kodak has announced that it will launch its own cryptocurrency, with plans to host an initial coin offering (ICO) at the end of January.
Morever, in an announcement, Kodak said that the cryptocurrency would underpin "an encrypted, digital ledger of rights ownership for photographers."
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.
Don't tell me that we will get to see different kind of Cryptocurrency for different people !
Here is what CEO Jeff Clarke of KODAK said in a 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 has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that."
Shares of Eastman KODAK surged 40% to $4.40 on Tuesday after it announced that it had partnered with Wenn Digital to launch a Blockchain-based Image-rights management platform called "KODAKOne" and "KODAKCoin", a "Photo-centric Cryptocurrency to Empower the Photographers and agencies to take greater control in Image Rights Management."
Later, shares were trading up 83.8 percent at $5.70 for each KODAKCoin.
Kodak has joined a growing list of companies that have highten their shares by announcing forays into cryptocurrencies and Blockchain. Long Island Iced Tea, a small, obscure beverage company saw it's shares jump as much as 500% after changing its name to “Long Blockchain Corp”.
Time has become crazy. And I think it will become crazier day by day.
Let's just see what happens next.
See ya people !
And
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