Kodak just announced it’s creating its own cryptocurrency called “KodakCoin.” The surprise announcement triggered an immediate jump of more than 125% in the company’s stock price, including after hours trading.
The legendary camera company plans to use the blockchain to help photographers maintain rights over their images.
“For many in the tech industry, ‘Blockchain’ and ‘cryptocurrency’ are hot buzzwords, but 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. Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that.”
Kodak will launch KodakCoin in a private ICO available only to investors. The launch is planned on January 31st.