Kodak Coin Pre-CIO Overview: Today, we’re looking at Kodak Coin. A new cryptocurrency from that photo company you haven’t heard of since you used a disposable camera. But for now, it looks like only photographers can get in on it.
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Who’s Behind Kodak Coin?
It is actually a Vancouver-based company called Global Blockchain Technologies Corp. which is licensed by Kodak to use its name for this new cryptocurrency. They have already begun pre-selling the cryptocurrency ahead of a public initial coin offering (ICO), sinking $2m into Kodak Coin. They have reportedly subscribed for all 8m Kodak Coins available in the pre-ICO first stage. The ICO date is not specified yet.
How Will it Work?
The KodakOne platform will use the blockchain technology to enable photographers and agencies to register their work, sell rights to images and receive payment using KodakCoin. Participating photographers will receive payment for licensing their work immediately upon sale. Both professional and amateur photographer can sell their work confidently on a secure platform.
How Can Investors Get on it?
Just like all other cryptocurrencies, the value of KodakCoin from a trading point-of-view will depend on multiple factors. Those include the level of enthusiasm among market participants, the amount of “reserves” of the coin, the rate of their release, and availability on major cryptocurrency exchanges.
Can You Mine Kodak Coin?
Kodak has also developed a Bitcoin mining programme with tech firm Spotlite.
The companies built the Kodak KashMiner, a “Bitcoin rig” that creates new Bitcoins.
Each of the rigs will be leased out to members of the public who will pay a fee to Kodak to mine Bitcoin for them, which will be shared between the company and the customer.
The company has already leased out all 80 of its mining rigs, but hopes to bring in another 300 soon.
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