Kodak reveals blockchain initiative KodakCoin

Kodak reveals blockchain initiative KodakCoin

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KodakCoin

Shares in Kodak soared nearly 120% after it revealed its blockchain-based initiative, KodakCoin.




The photo firm said at CES 2018 that it will be teaming up with London-based Wenn Media Group to carry out the initial coin offering, helping photographers control their image rights.

“This is a phenomenon we saw back during the dot-com days in the late 1990s where traditional companies would mention some kind of internet strategy and their stock price would jump up,” commented Garrick Hileman,¬†University¬†of Cambridge (BBC).

“When you see stock prices moving like this it does appear to be troubling – it’s hard to say if there’s a bubble but it certainly is indicative of a frothy investment market.”

Kodak also explained its plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York.

Written by Leah Alger