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Kodak shares up as it announces KODAKCoin cryptocurrency

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Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#61

Post by rainbowmverse »

Possible use for this not well-served by existing systems: people looking to license photos in places or communities payment processors don't serve or don't serve well can potentially use this.

The microstock sites have spent the last several years driving the value of an image down to the point where you're lucky to get 25 cents (only because it's currently the guaranteed minimum), so it's already in reach of places with low cost of living. Those are the same places where buying stock from people based in already heavily-developed places is complicated by transaction fees and anti-fraud measures.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#62

Post by king07828 »

If the cycle is:

1 photographer uploads photo;

2 photo consumer (e.g., magazine) pays USD to Kodak for photo usage;

3 Kodak pays KodakCoin to photographer;

Then it looks like a cash grab and the chances of success may be limited because there is no demand driving the price of KodakCoin.

If the cycle is:

1 photographer uploads photo;

2a photo consumer buys KodakCoins from exchange;

2b photo consumer pays KodakCoins to Kodak for photo usage;

3 Kodak pays KodakCoin to photographer.

Then it may be viable because requiring the consumer to purchase coin creates demand for the coin.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#64

Post by goodroot »

I know HN isn't too spiced up about Crypto, but it's important to realize that lots of these "cryptocurrencies" are built atop Ethereum -- that's part of what makes it magical.

This is leveraging Ethereum, to create a currency, to address a market need: photographers getting appropriate renumeration and accreditation for their work.

Picture this: you snap a photo, its hash is on a decentralized public record. If someone uses this photo, you're aware of it and can be rewarded/credited appropriately.

We can scoff at the blockchain-ization of all these applications, or realize that they really do have far-reaching implications. Whether the investors are patient enough to wait for the benefit to become actualized, though, is a whole 'nother matter.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#65

Post by TheCapn »

viridian wrote: post #7

>Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and am…

But for a company like Kodak to be beholden to a 3rd party development team is operational risk. Taking the proven technology and forking it under your centralized control seems like a smart move in my opinion. They're not trying to cash out on a digital currency, they're trying to leverage the smart contract tech that's shown to work.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#66

Post by jacquesm »

mywittyname wrote: post #46
viridian wrote: post #7

>Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and am…

> it's just Kodak trying to ride the free money wave of cryptocurrency speculation. Our company made a massive push last year for developers to be "using blockchain technology, now." No real direction as to what exactly needs to be solved with it, just that we need to be seen using it. This was before several months before the whole Long Island Blockchain fiasco. Apparently, last year, "block chain experts" were meet…

I keep seeing ´blockchain´ in proposals and start-up documents where the whole thing has been dragged in by the hair and through the weirdest of reasonings be made to seem like an integral part of the plan. It is a surefire way to end in the wastebin, but as long as there is enough dumb money tracking these projects I am afraid it will continue for a while to come.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#67

Post by akerro »

legohead wrote: post #38
viridian wrote: post #7

>Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and am…

Piggybacking off popular cryptocurrencies has its own risks[1]. [1] https://blockchain.info/unconfirmed-transactions

Show me the same graph from ETH and XRP please. Bitcoin is outdated, Bitcoin is to us what ARPANET is to the Internet. Welcome to the future.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#68

Post by will_brown »

Spivak wrote: post #37

Somebody was really rushed to publish this. I mean good lord the site they link to https://www.kodakcoin.com/ still has lipsum and what I can only assume are placeholder photos. Unless Jan Denecke really is a man of many faces. Edit: Oh my god the background is an Adobe stock photo complete with watermark. Edit2: No, Kodak you don't get to just take the site down. The internet never forgets. https://imgur.com/a/LtI2s

The domain KODAKCoin.com was registered 7 days ago. Looks like someone jumped on the bandwagon and registered KODAKCo.in just today after the announcement.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#69

Post by lomnakkus »

jey wrote: post #40
abritinthebay wrote: post #14

Earlier quoted context omitted.

This was always going to be the end result of blockchain and cryptocurrency. It was one of the original criticisms of the tech - that "every company would make it's own coin". Smart Contracts are never going to be as popular because they are neither very smart or the same as regular contracts - and have more overhead and larger vunerability anyhow.

And then they'll all fail, and people will again realize that simply appending ".com" or "blockchain" isn't actually a miraculous panacea. Meanwhile, legitimate uses of ".com" and "blockchain" will still continue to develop and grow.

Yeah, it's not called the Hype Cycle for nothing[1]. Not sure about the latter part of your post -- I'm sure there are legitimate uses of blockchain tech, but on the other hand I'm sure I've seen any yet, personally.

EDIT: [1] Actually, it's pretty weird that this is even a thing given how interested we (as effectors of "tech") SHOULD be (but aren't) in how all of this has gone before. Granted, blockchains are a relatively recent invention, but just because it's technically doesn't mean that it's actually meaningfully different in effect/politics/etc.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#70

Post by kingmanaz »

trendia wrote: post #35
alangibson wrote: post #12

We've hit Peak Coin.

"I knew I had made the right choice to stay out of cryptocurrencies when my taxi driver launched an ICO." -- Warren Buffet, sometime in the future

A janitor, whom never uttered a word to me before, asked me about bitcoin in a very forward manner just last week. As much as I'm excited by the concepts behind crypto, "jump the shark" has been on my mind ever since.
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