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Kodak joins the cryptocurrency bandwagon with 'KodakCoin'

Kodak joins the cryptocurrency bandwagon with 'KodakCoin'

Bring it on! Let the crypto-race begin. As the clouds of doubt and despair fade away, Bitcoin, Ethereum, Ripple and other crypto-coins are fast-paced becoming a substantial investment of today for a better tomorrow.

Financial data companies are racing with grit and determination to become the first major hub for the unregulated assets.  About 2,000 alt-coins have been issued by companies drawing billions of dollars in investment.

And, now the 130-year old company, Kodak has decided to break the dogma and join the crypto-currency craze with the introduction of 'KodakCoin'. 

Kodak,  a well-known name since early days of film-based photography, is all set to get into cryptocurrency market and digital licensing partnered with WENN Digital. The companies are introducing KodakOne and KodakCoin using blockchain technology.

Bitcoin has marked a growth surged from less than $1,000 a year ago to more than $14,000.  New York-based Kodak, Rochester which was founded in 1880 has started the ball rolling as Bitcoin makes gains.

The Kodak systems would open the Initial Coin Offering (ICO) on 31 January which will allow photographers to register work that they can license and then receive payment.

Shares of Eastman Kodak Co. more peaked to double and closed at $6.80 on Tuesday. "Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KodakCoin," asserted CEO Jeff Clarke. "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," he added.

So now what destiny has in store for Kodak?

Well, this is a risk but embracing the change to become a part of Global Blockchain's portfolio, Kodak's effort to transform itself and bring something innovative is an initiative worth appreciating.

Amidst speculations going on, Kodak and others are showing trust on the future of cryptocurrencies with hopes of generating additional revenues and are planning to open a plethora of opportunities for the impatient optimists who believe in the future of cryptocurrencies.