When Don Draper from "Mad Men" was working on the Kodak account, he probably never envisioned the company would be involved in cryptocurrency. And, that such an oddball tactic for the once stodgy corporation could be the jump-start for its comeback.
The DailyMail reports that Eastman Kodak announced that, on January 31, 2018, it would conduct its Initial Coin Offering (ICO) for its own cryptocurrency.
That's KodakCoin. Its stock surged 100%.
The DailyMail indicates:
" ... [This] will allow photographers to register work that they can license and then receive payment ... It is part of KODAKOne - and image rights management platform launched in a licensing partnership with WENN Digital."
Based on blockchain technology, cryptocurrencies provide security. Each item posted is linked in a chain which can't be tampered with. Even the coders can't hack into that chain.
Therefore, Kodak is enhancing its brand by providing photographers security for both their work and their income. Actually, this could be a rebranding.
Reflection: Businesses not allowing cryptocurrencies could find themselves at a competitive disadvantage.
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