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Kodak sees its price rise after the unveiling of KodakCoin

Kodak, a company that seemed dead and gone with the advent of digital photography, just came into existence by announcing the creating his own cryptocurrency. The so-called KodakCoin will be the token that powers the company's new KodakOne platform. KodakOne will allow photographers to save their images, license and search the web for unauthorized use.

CEO Jeff Clarke explained:

"For many in the technology industry," blockchain "and" cryptocurrency "are buzzwords, but for photographers who have long struggled to control their work and use, these buzzwords are the key to solving what appeared to be an insoluble problem. Kodak has always sought to democratize photography just right to These technologies offer the photographic community an innovative and easy way to do it. "

Kodak's stock doubled in value as a result of the company's announcement.

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Connecting his company to the Blockchain or cryptocurrency seems to be the surest and safest way to increase its value Long Island Iced Tea has recently changed its name to Long Blockchain and has seen its value increase five-fold. While Clarke is optimistic that the new cryptocurrency will revive Kodak's fortunes, the Financial Times calls the move a "last desperate attempt for relevance."

KodakCoin will be launched by ICO on January 31st. The symbolic sale is only open to qualified investors.