Kodak Stock Jumps 125% on 'KodakCoin' Cryptocurrency, ICO News

CEO Jeff Clarke said the technology addresses a longstanding problem for 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," Clarke said. "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."

The KodakOne platform will maintain an encrypted digital record showing who owns rights to specific photographs. Photographers of all skill levels can register new and archived images, then license them through the system. When someone licenses a photo, the photographer receives KodakCoin. The platform also scans the web to identify when registered images are being used without permission.

Kodak also revealed plans to expand into Bitcoin mining. At the CES technology conference this week, a Kodak licensee displayed a mining device called the KashMiner. The company plans to operate mining rigs from its Rochester, New York headquarters. Customers can rent mining capacity for $3,400 upfront on a two-year contract. The licensee estimates this would generate roughly $375 in Bitcoin per month at current prices.

The moves reflect broader interest in cryptocurrency across industries far beyond blockchain startups. Telegram, the encrypted messaging service, is developing its own blockchain system and cryptocurrency to support payments on its platform. People with knowledge of the effort told TechCrunch that the Telegram Open Network, or TON, would be a new "third generation" blockchain with "superior capabilities." Telegram plans to fund development through an initial coin offering, with private investors committing hundreds of millions of dollars.