kodak, a legacy images employer synonymous with the last century, is to release its own cryptocurrency, kodakcoin. no longer content with maintaining an ico, the employer has also decided to get into cryptocurrency mining in what’s been interpreted as a desperate bid to stay applicable. the information, unveiled at ces 2018 on wednesday, goes down as one of the strangest tales yet in a month that’s been packed with crypto oddities.
kodak enjoys its kodak moment
in per week in which an altcoin for the dental enterprise neared a $2 billion marketplace cap and messaging app telegram unveiled a 132-page white paper, the perception of kodak launching its very own ico doesn’t appear that outlandish. reinventing itself as a cryptocurrency mining company into the bargain even though is a curveball that no one saw coming.
ces is the era world’s largest and glitziest event of the 12 months, hosted in las vegas and boasting current new package from industry leaders such as samsung and sony. and then there’s kodak, a employer that by using anyone’s reckoning turned into last applicable across the time that instamatic cameras were the contemporary tech. however to the chagrin of the other exhibitors at ces on wednesday, kodak stole the show.
kodak, meet crypto
the information that the eastman kodak organisation, based in 1888, become leaping on the cryptocurrency bandwagon ought to have come as a complete shock. it says some thing approximately the current information cycle that the story, accompanied via news of kodak’s inevitable proportion price bounce, changed into greeted via little greater than a shrug. the tokenized challenge the agency are launching, for what it’s well worth, appears like a shutterstock copy, with delivered permissions. and a blockchain of route, because 2018.
however what to make of the corporation’s foray into cryptocurrency mining? as if looking to tick off every cliche within the crypto manual, kodak has declared that it is going to start renting out bitcoin miners to the general public. the miners it demoed appear to be bitmain mining rigs with a kodak decal appended, suggesting that the entire scheme might also had been swiftly cobbled collectively. this theory become reinforced by the revelation that the kodacoin internet site changed into only registered on january 2.
mining for headlines
to expose its help for its new mining operation, kodak introduced plans to put in a rig in its new york headquarters. probably not in its workplace, for cryptocurrency mining is a warm and noisy racket quality restricted to a darkened room. the kodak branded miners can be leased to customers, who will be predicted to pay upfront for the mining capability. as one commenter scathingly put it:
that is getting ridiculous,” dennis dick, a trader at brilliant buying and selling llc, instructed reuters. “from a essential point of view, none of this makes experience.” there’s a desperation about the reinvention of kodak, like an embarrassing uncle trying to prove they’re still down with the children. it'll be the large boys investing in kodak’s token sale though, which is open to sec registered traders best.
it doesn’t depend whether or not the world desires every other image licensing platform, or indeed whether the arena desires kodak. all that topics to the institutional traders is whether they can turn a earnings with the aid of snapping up kodk tokens of their thousands and thousands. inside the modern-day climate, that seems like a dead certainty.
do you believe you studied kodak’s entry into the cryptocurrency marketplace is insanity or stimulated? let us recognize in the comments section below.