The Big Story
Kodak’s Recent Developments
Over 4,000 exhibiting companies and 1,200 speakers were in attendance at the annual CES (Consumer Electronics Show) in Las Vegas last week. While the conference is known for its debuts of cutting edge technologies and gadgets, one presenting company with an old-economy name managed to create quite a bit of publicity and a 300% increase in its stock price. Two announcements made by Kodak indicate it is now fashioning itself as a new-economy company. Since it emerged from bankruptcy in 2013, Kodak has mostly licensed away its consumer products business to focus on B2B goods and services. But both of its newest developments (pun intended) involve a further pivot, moving Kodak into cryptocurrency initiatives that expand the bitcoin universe.
The first of Kodak’s new initiatives involves an ICO (initial coin offering) of a new cryptocurrency called KODAKCoin, which is launching in conjunction with an image rights platform called KODAKOne. Both KODAKCoin and KODAKOne are designed to assist photographers in managing and getting paid for their images. Launching January 31 and operated via a licensing partnership with WENN Digital, photographers who sign up for KODAKOne are provided with a level of certainty and security that they are being paid for their work.