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Following the blockchain concept, Kodak coin is a dangerous gamble

Time : 11/10/2021 Author : 4wt2as Click : + -
        At a time when blockchain and cryptocurrency are so popular, many enterprises can't sit still. In China, Xunlei, Tianya, Renren, Alibaba and are all working on blockchain and cryptocurrency. As long as the news of entering these fields is announced, the share price will rise sharply &mdash& mdash; The crazy rise of Xunlei and Renren's share price is the best proof. In fact, this trend has spread rapidly around the world, and many unexpected enterprises have participated in the game of blockchain and cryptocurrency. Just recently, Kodak, with a 130 year history, announced the issuance of its own cryptocurrency, called "kodakcoin".
        Naturally, the benefits are obvious. Kodak's share price rose by more than 200% after the announcement, and has not fallen since. But in terms of the shape of Kodak coin, it may just be a dangerous gamble. Kodak obviously has high hopes for Kodak coins. Kodak coin is regarded as "a photo centric cryptocurrency that enables photographers and agents to better control and manage picture copyright". The original intention of the release is to use blockchain technology to help photographers collect money more efficiently and prevent copyright infringement. Through Kodak coin, Kodak tries to help photographers create permanent and unchanging ownership records to manage their works.
        In order to reflect the importance of Kodak coins, Kodak launched its own mining machine. The mining machine named kashminer adopts the business model of renting, with a rent of $3400 for two years. Kodak claims that this mining machine can produce new money worth more than $300 a month. It seems that Kodak is well prepared to enter the field of blockchain and cryptocurrency. Kodak is by far the most famous and established company in the game field of cryptocurrency, but it also seems to be the most controversial. Many critics have almost given negative comments on Kodak coin, saying that Kodak is just desperate to make money. There are many reasons why many people are not optimistic about Kodak coins, the most important of which is that Kodak coins may not be so "practical".
        At the same time of releasing Kodak coin, Kodak also launched a blockchain trading platform kodakone that buys, sells and authorizes pictures, videos and other copyrighted content. Professional and amateur photographers can use Kodak coin to buy and sell their works on this platform through secure blockchain technology. Kodak will also install web crawlers to monitor and protect the copyright of works registered on kodakone system. Users can track and protect the copyright of their photos, detect unauthorized and unauthorized use of photos, and manage all uploaded photos. Digital rights management has always been a thorny problem for photographers, and blockchain does provide a compelling solution in theory.
        But why should photographers use digital tags to sell their copyrights instead of traditional cash payments? If the photographer sells the copyright of his works and obtains Kodak coins, how can he ensure that Kodak coins can be exchanged for real income? It is understood that due to regulatory requirements, Kodak can only provide Kodak coins to those recognized investors. Recognized investors are defined as those with a net worth of $1million or more, or an annual income of $200000 or more. So the question is, how many millionaire photographers are obsessed with cryptocurrency? Therefore, Kodak coin looks beautiful and can protect the copyright of photographers' works, but it is more like a painted "big cake".
        Even if photographers meet the requirements of owning Kodak coins, it may be difficult for them to spend their Kodak coins or exchange them for cash. The securities and Exchange Commission warned that investments sold in private products (such as Kodak) may be difficult to resell, and investors may be required to hold them "indefinitely". However, Kodak seems to be confident that Kodak coins will eventually be freely traded. According to the white paper on Kodak coin, the holder may gain other benefits, such as Kodak's revenue share and access to certain "markets", which will allow the holder to use Kodak coin for camera equipment, studio and travel expenses.
        But these benefits may not be realized: the origin of Kodak coin, the currency itself, and the earning potential of kashminer are all being added with question marks one after another. No matter how confident Kodak is, it is only to save enough momentum for itself. Whether Kodak coins can rise depends on the later development.
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