Kodak is a company that originally founded as a camera manufacturer but with the development of cryptographic currencies then Kodak ventured into the license market and digital cryptography as part of a partnership with WENN Digital.
The company launched blockchain technology with KodakOne and KodakCoin. Blockchain is a great book where digital currency transactions, such as Bitcoin.
Rochester, New York-based Kodak, founded in 1880, is the latest company to enter the cryptographic market like Bitcoin which generates multiple profits. Bitcoin traded has jumped from less than $ 1,000 a year ago to more than $ 14,000.
Recently, Long Island Iced Tea Corp. said it plans to change its name to "Long Blockchain Corp", as it wants to focus more on blockchain technology, while continuing to make drinks.
The Kodak system will allow photographers to register jobs or licenses they can authorize with payments.
Currently it is unclear how much Kodak intends to seek funding through ICO, but the company says that token sales - set to January 31, 2018 - will be open to accredited investors from countries including the U.S. and Canada.
"This initial Coin Offer is published under the SEC guidelines as a security token under Rule 506 (c) as an excluded offer," Kodak said.
Eastman Kodak Co. shares jumped 42 percent to $ 4.40 in afternoon trading. This helped Kodak financially because for one year and then the stock had fallen sharply, down more than 70 percent.
"By Engaging in a new platform, photographers know their jobs and income and are handled safely with trust, that's what we do with KODAKCoin," says CEO Jeff Clarke.
Kodak and several other cryptographic companies entered the market as warnings developed about the risks of virtual currency and potential bubbles. There are no rules regarding the making and use of virtual currency and the nature of transactions make them difficult to do for now.
Cash transactions will gradually be replaced with non-cash payments. People in the future will be assisted by technological advances to make practical, fast and secure payments. But in Indonesia the digital payment system is considered an unauthorized payment.