Kodak Launches Own Cryptocurrency KODAKCoin — Stocks Surge

In a tie-up with WENN Digital, a blockchain development firm, Kodak photo-centric cryptocurrency, KODAKCoin, causing a 60 percent stock rise after the surprise announcement.

This is a part of a larger initiative called KODAKOne which will reportedly give photographers a new revenue stream and a secure work platform. The blockchain-powered image management system will supposedly create a digital ledger of rights ownership that photographers can use to register and license new and old work.

Kodak CEO Jeff Clarke said in a statement, “For photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords [“blockchain” and “cryptocurrency”] are the keys to solving what felt like an unsolvable problem.”

Kodak’s choice to move towards blockchain rather than introduce a new social media platform to serve the same purpose has sparked some discussions that the company is trying to capitalise on the current cryptocurrency fad.

KODAKCoin’s initial coin offering opens on January 31st, under SEC guidelines as a security token, and it’s open to US, UK, Canadian, and other investors.

Further information can be obtained on their website.

Russian Airline "S7 Airlines" started using blockchain to issue tickets

"Alfa-Bank" and "S7 Airlines" started the innovative block chain platform for automation of commercial transactions, namely the sale of air tickets.

The solution implemented by companies, is based on the Ethereum platform to create decentralized online services on the basis of the block chain.

Reportedly, the calculation speed increased from 14 days to a record 23 seconds. Thus, the airline does not provide deferred payment to agent and gaines revenue immediately after booking the ticket. The agent, in turn, is free of a Bank Guarantee paperwork.

Moreover, the implementation of block chain allows to minimize a human factor and to increase the reliability of transactions.

In the future S7 Airlines hops to extend the scope of the block chain platform. The suppliers of fuel and food, for example, can be engaged in the project.

 - Christina