Australia: Kodak’s blockchain risk

Kodak has joined a partnership with blockchain development company WENN Digital, to launch KODAKOne and KODAKCoin platforms by the end of January. Blockchain is a digital, decentralised ledger of transactions which allows all market participants to keep track of cryptocurrency transactions without central recordkeeping.

KODAKOne will be an image rights management platform that allows users to archive and register their work, while KODAKCoin will be a digital currency that will allow photographers to instantly receive payments through a blockchain system.

"Since the announcement at the beginning of January, Kodak’s stock price has more than doubled. The partnership marks a significant milestone in the reemergence of Kodak as a technology company since filing for bankruptcy in 2012."

Since the announcement at the beginning of January, Kodak’s stock price has more than doubled. The partnership marks a significant milestone in the reemergence of Kodak as a technology company since filing for bankruptcy in 2012.

After obtaining a rescue package from investment banks in 2013, Kodak has proceeded to reinvent and rebrand itself as a ‘technology company focused on imaging’. This new partnership is a furthering of this strategy, as Kodak strive to learn from their past mistakes and to not be made redundant by the innovation of their competitors.

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