Kodak to launch its own cryptocurrency- Kodakcoin
Jan 10, 2018 Posted / 821 Views
Kodak, a popular photography company will soon launch its own cryptocurrency, Kodakcoin. The company, which already operates an ICO, has now decided to get into cryptocurrency mining. The details about the launch were unveiled at CES 2018 this week and also can be compared as one of the strangest stories up till now in the New Year.
In this week many new stories came forward as altcoin for the dental industry came close to a $2 billion market cap and also messaging app Telegram disclosed a 132-page white paper. However, the Kodak desire of introducing its own ICO and then reforming itself as a cryptocurrency mining company was something that nobody had foreseen.
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Interestingly, the CES event is considered to be the technology world’s largest and most glamorous events, which is hosted in Las Vegas. It boasted about the new accomplices, which came about from influential industry leaders such as Samsung and Sony. Nonetheless, Kodak stole the show and other exhibitors at CES were just marvelling about what just happened.
The Eastman Kodak Company, which was founded in 1888, started circulating the cryptocurrency bandwagon and everybody was taken aback by the announcement. However, the inevitable share price leap of Kodak is not surprising as many companies have utilized it as wagon wheel of hype cycle since last few months. This meticulous announcement was welcomed with little more than a shrug. The token-based projects the company are associating themselves with sounds more like a Shutterstock copy with additional permissions.
We still need to evaluate what this astonishing meet would result into. Kodak as if now is trying to pick every kind of cliché in the crypto handbook, and has announced that it is beginning to renting out bitcoin miners to the public. The miners of Kodak seem alike Bitmain mining rigs with an attached Kodak sticker, which signifies that the entire approach may have been hurriedly amalgamated. This philosophy is intensified by the revelation that the Kodacoin website was only indexed on January 2.
Kodak announced its plans to install mining rigs in its New York headquarters. Apparently, the mining is not possible in its office as crypto mining is something best restrained to a darkened room. It is being speculated that the Kodak branded miners will be ultimately leased to customers as it is being projected that they will pay upfront for the mining capacity.
There will be a constant debate and nobody knows that if the world needs one more image licensing platform, or indeed if the world needs Kodak. All that can be substantiated and needed for the institutional investors is to turn a profit by accumulating KODK tokens in their millions. In the current scenario, this seems like a dull certainty.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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