Degradation: Kodak wants free money as intermediary, issue scam crypto currency

Vitaliy_Kiselev

Today Kodak and WENN Digital, in a licensing partnership, announced the launch of the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management.

Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform. KODAKOne platform provides continual web crawling in order to monitor and protect the IP of the images registered in the KODAKOne system. Where unlicensed usage of images is detected, the KODAKOne platform can efficiently manage the post-licensing process in order to reward photographers.

“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,” said Kodak CEO Jeff Clarke. “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.”

“Engaging with a new platform, it is critical photographers know their work and their income is handled securely and with trust, which is exactly what we did with KODAKCoin,” said WENN Digital CEO Jan Denecke. “Subject to the highest standards of compliance, KODAKCoin is all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new economy tailored for them, with secure asset rights management built right in.”

The initial coin offering will open on January 31, 2018 and is open to accredited investors from the U.S., UK, Canada and other select countries. For more information visit www.kodakcoin.com. This initial Coin Offering is issued under SEC guidelines as a security token under Regulation 506 (c) as an exempt offering.

For more information and to sign up for product updates, please visit www.kodak.com/go/kodakone.

robertGL

Wish I owned some Kodak stock, it went up 116% yesterday on the news.

IronFilm

Don't worry @robertGL , for the other 364 days of the year you'll be glad you don't own Kodak stock!

Vitaliy_Kiselev

They also made Bitcoin miner (aka transform energy into heat for scammers)

joethepro

It is clear you don't understand the cryptocurrency market. :)

Vitaliy_Kiselev

It is clear you don't understand the cryptocurrency market. :)

LOL. Ouch, I do.

USSR even made film about crypto currencies (long before they become widely known)

This pretty cancer tumor will make every idiot shit seriously.

IronFilm

They also made Bitcoin miner (aka transform energy into heat for scammers)

Wow, they're taking this way more seriously than I thought!

But yeah, *Kodak... * famous for blowing it.

Vitaliy_Kiselev

@IronFilm

At least we are here talking not trying to imitate hordes of idiots.

If you don't have strong foundation it is very tempting to follow every scam and prize it.

And make sure to sacrifice a bull or two, it can help to be sure in gods ways.

CFreak

The New York Times doesn't have a positive view of Kodakcoin at all: https://www.nytimes.com/2018/01/30/technology/kodak-blockchain-bitcoin.html

Cameron Chell, a lead adviser to the KodakCoin project, told me that the initial offering represented a “seminal moment” for Kodak, and that the company’s interest in blockchain technology was a savvy long-term investment. “The real story is that it’s about to be a renaissance,” he said.

But Mr. Chell, a Canadian entrepreneur and motivational speaker who once opened for Tony Robbins, has a troubled track record. In 1998, Mr. Chell agreed to a five-year ban from the Alberta Stock Exchange in Canada and paid a $25,000 fine in connection with a violation of the exchange’s rules. A previous company of his ended in ignominy after its chairman was charged with fraud.

Also:

Now, about those coins. You might think that a digital currency that is trying to “democratize photography and make licensing fair to artists,” in Mr. Clarke’s words, would be easily accessible. But because of regulatory requirements, KodakCoins will be available only to so-called accredited investors in the United States. An accredited investor is defined as a person with a net worth of $1 million or more, or an annual income above $200,000.

How many cryptocurrency-obsessed millionaire photographers do you know?

Kash? Sounds like trash and will generate koin, not real coin!

Vitaliy_Kiselev

@CFreak

It is just some people who bough Kodak brand for this specific niche :-)

CFreak

@Vitaliy_Kiselev like Digital Bolex! -Bolex only agreed to lend their name to it.

The article points out Kodak has very little to do with the whole scheme.

Vitaliy_Kiselev

Thank you for your interest in the KODAKCoin ICO. With over 40,000 potential investors expressing an interest in the ICO on www.KODAKCoin.com, we are now moving into the “accredited investor” verification phase. Given the large interest in the KODAKCoin ICO and the steps that we need to take to verify the “accredited investor” status of each interested investor, we expect this process to take several weeks.

We will be contacting all potential investors that have previously registered for the ICO shortly for additional information to confirm their “accredited investor” status. The KODAKCoin ICO is being offered pursuant to an exemption from registration under the US Securities Act of 1933 provided by Rule 506(c) of Regulation D thereunder. As a result, participation in the KODAKMRCoin ICO is open only to those investors deemed to be “accredited investors” under Regulation D (e.g., any natural person (i) whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or (ii) who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year). MirrorlessRumors In addition, the KODAKCoin ICO will be offered outside the US to select non-US persons in accordance with the applicable laws of each jurisdiction where such offers and sales occur.

I think list of "40,000 potential investors" will be very useful later for work camps in Alaska.

Scot

Net worth a Million to invest maybe there like Robin Hood stealing from rich lol. All these crypto currencies seem like pyramid schemes to me. I just don't get it but in away not unlike the US dollar we print with nothing tangible but the desire for people to want to own dollars. The question is how long any of these schemes will work including the dollar.

Vitaliy_Kiselev

I just don't get it but in away not unlike the US dollar we print with nothing tangible but the desire for people to want to own dollars.

Mostly it is common misconception considering dollar. As dollar is used in world trade if we do not see any significant inflation this means that market players agree on value. Does not mean it is real or fair one. :-)

robertGL

So Kodak lends its name to a paparazzi company to make a memecoin? When do the lawsuits begin?

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