Posted on 01/10/2018 11:38:55 AM PST by SeekAndFind
Investors really love Eastman Kodak's makeover.
One day after the 130-year-old industrial company announced plans for its own cryptocurrency, shares are soaring 72 percent.
KodakCoin will roll out after an initial coin offering later this month, Kodak said Tuesday. Blockchain, the technology underpinning popular digital currencies like bitcoin, is going to be used to build KodakOne, the company's new photo rights and royalties tracking product for digital photographers. KodakCoin will be the currency used on that platform.
Kodak shares jumped more than 60 percent Wednesday and have now tripled since the announcement. The shares were around $3.13 before the announcement was put out and were last trading above $11.
It is another step in the evolution of the faded American brand, once synonymous with film cartridges, paper and camera equipment. Kodak entered bankruptcy six years ago and emerged with a new focus on digital printing and packaging. But it still struggled to regain momentum.
Like many old-line companies it has embraced cryptocurrencies and blockchain to remake its image, and time will tell whether that will stick.
(Excerpt) Read more at cnbc.com ...
Wonder if they will finally relocate out of Rochester to get away from NY taxes...
I’m having a Kodak Moment.................
Why can’t blockchain “underpin” transactions using “money” backed by governments?
If they do, they will have to sell their sprawling (and I mean SPRAWLING) property. Eastman Kodak has a city's worth of property, entangled like an octopus in Rochester's city limits. It is literally a city within a city. It has several fire departments, a health care / hospital system, and a form of corporate police (who actually have arrest powers, if I am not mistaken). It even has a rail system that goes all over the sprawling complex.
If they end up selling all that, they will be very rich.
Kodak: well we totally missed the boat on the whole digital photography thing, and our cameras are behind the curve, but he we can join the cryptocraze.
They should probably be a penny stock at this point.
It can, but there’s no reason to. The only reason they use blockchain for the cryptos is to prevent digital counterfeiting. With government money since in the end all transactions are bank to bank with all the government regulations they face there’s no need. Blockchain in this case really just makes everybody a “bank” for purposes of trace-ability.
I like the Polaroid blockchains. I can print and spend the coins instantly!
More importantly, anyone can create a "crytpocurrency". You don't need to be programmer. The software is available on the net. Some pimple face kid sitting in dad's basement can claim he's offering a "cryptocurrency".
The other gotcha is that we are making great strides in quantum computing. Perhaps as soon as 10 years from now we will be able to crack present day cryptography with ease. The NSA is already experimenting with it, perhaps even have a working prototype. Once cryptocurrency can be cracked, it's value drops to zero.
So, what’s the charm of cryptocurrency?
It’s nerdy, it’s untracable, it’s something for your computer to do when you’re at work. Really America’s always been fond of alternate currencies, from S&H Greenstamps to Marlboro Miles everybody has dabled in it. And we have folks that like trading in various world currencies. Crypto is where these two American trends meet.
So momma don’t take my KodakCoin away....
But green stamps were free.
You could buy them direct from S&H, the retailer you probably got them from as a reward for purchase bought them. They seemed free since almost nobody actually bought them for themselves, but they were not.
The Democrats will.................
Yeah, right...................
Bitcoin went up 170000? Percent in 5? Years..?
Jim should start a “Free Republic” coin.
There’s no end to these “coins,” so “scarcity” seems a nebulous concept.
As long as someone “wants” a coin, someone with one can provide it for the right price.
Bitcoin went up 170000? Percent in 5? Years..?
I smell a bubble, of tulip magnitude. In a small town in northern British Columbia, a woman told me her nephew “invested” $500 in Bitcoins and “made” $5000 (he hasn’t cashed in yet).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.