Kodak is Making Its Own Cryptocurrency For Some Reason

first_imgStay on target Photos: Animals Rescued From Illegal Trafficking in ColombiaEagle Steals Rabbit From Fox in Mid-Air Battle I can already feel it in my bones that cryptocurrency is going to lead to another economic collapse soon. Real innocent working-class people are going to lose their homes and livelihoods because sociopathic finance nerds can’t stop playing with Bitcoin. But until that happens it has been pretty fun to watch more and more entities hurl themselves at this virtual gold rush. The latest company to start making up its own funny money? Kodak, you know, the photography people.Kodak’s inexplicable new cryptocurrency is called KODAKCoin, maybe because “KODAKKoin” has a dangerous number of “Ks.” You can pay $3,400 for a two-year license for a Kodak KashMiner in a server farm and reap the benefits without lifting a finger (except for splitting the profits). We kid but this actually sounds cooler and more useful than you may imagine. Kodak announced the currency at CES 2018 alongside the KODAKOne image rights management platform. And how they work together is pretty nifty.Here’s a photo of Kodak’s magic money making machine. pic.twitter.com/wjWeJqMUBF— Chris Hoffman (@chrisbhoffman) January 9, 2018Using blockchain tech, photographers can use these services to encrypt, license out, and get paid for their original work all through the Kodak platform. Image theft is dangerously easy and rampant online, so kudos to Kodak for helping artists get the compensation they deserve. The service even crawls through the internet tracking down photos that may have violated your copyrights. Finally we can get some cash for our stolen nudes. Investors are so happy Kodak’s stock is already on the rise. Got so much gold call them Kodak Yellow.“Kodak has always sought to democratize photography and make licensing fair to artists,” said Kodak CEO Jeff Clarke in a statement. Kodak developed the tools in partnership with WENN Digital. “These technologies give the photography community an innovative and easy way to do just that.”KODAKCoin and the KODAKOne platform officially launch with an initial coin offering at the end of this month. Hopefully this is good news for photographers but we’re still very wary of this larger trend of more private companies getting into the cryptocurrency game. How much more money mining can the market sustain? What about the environmental impact from the power that cryptocurrency drains? And in the future will I really be expected to buy all my chicken fries with Burger King Bucks? Only time will tell.Let us know what you like about Geek by taking our survey.last_img read more