• 545 days Will The ECB Continue To Hike Rates?
  • 545 days Forbes: Aramco Remains Largest Company In The Middle East
  • 547 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 947 days Could Crypto Overtake Traditional Investment?
  • 951 days Americans Still Quitting Jobs At Record Pace
  • 953 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 956 days Is The Dollar Too Strong?
  • 957 days Big Tech Disappoints Investors on Earnings Calls
  • 958 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 959 days China Is Quietly Trying To Distance Itself From Russia
  • 960 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 964 days Crypto Investors Won Big In 2021
  • 964 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 965 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 967 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 967 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 971 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 971 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 972 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 974 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Kodak Soars 77% on News it Will Launch "KodakCoin" Cryptocurrency

Kodak wants in on the hype. It announced its own cryptocurrency today, the KodakCoin.
Today Kodak hopped aboard the Crypto Bandwagon with a “major blockchain initiative.”

The company and WENN Digital announced Tuesday the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency.

For its part, Kodak acknowledged in its press release that blockchain, like cryptocurrency, is a “hot buzzword” right now, but CEO Jeff Clarke said that the technology will actually prove useful in the company’s case. “For photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem,” he said in the release.

 

Asserting Control Over Work

What does the KodakCoin have to do with the unsolvable problem of photographers "who’ve long struggled to assert control over their work"?

Absolutely nothing!

It's a digital coin stupid. It's possible that blockchain technology will be of some use in regards to the stated mission, but the coin is pure nonsense.

Companies needing to resort to hype to boost share price are more than likely solid long-term shorts. Kodak went bankrupt once. It's share price looks as if it may have been headed there again.

I have not followed the company for years, and have no position, but this is nothing more than a clear gimmick to boost share price, and an obvious one at that.

By Mike Shedlock

Back to homepage

Leave a comment

Leave a comment