I'm sure no one will figure out how to claim other peoples photos on the blockchain..
Kodak shares up as it announces KODAKCoin cryptocurrency
121–130 of 176 posts
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#122Something like this already exists: https://www.ascribe.io/ # I had to use it to submit some photos to a call for work a couple of years ago. After the call I wanted to delete the work, because I didn't want it hanging around in public view. Oh look! You can't! Because It's blockchain! Immutable history is not always a compelling requirement, in fact sometimes it is at odds with many a use case.
I think the difference is that Ascribe doesn't have a token, so payment doesn't take place on the platform. Ascribe is merely a registry & they are building tech that will scan the internet checking for unauthorized copies of work. I think the scanning ability is very powerful, but that's totally outside of blockchain! I think the value of KodakCoin is the payment mechanism, which in theory will be decentralized i.e. replace Paypal. I'm still trying to wrap my head around the benefits. Bottom line though, everyone knows Kodak and no one knows Ascribe, so I can see how Ascribe would be a good acquisition target for Kodak down the line!
Please challenge me!
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#123Earlier quoted context omitted.
So you're trying to get around regulations that you would need to follow if you wanted to do an IPO?
More than that, our business is not legal in the US which is one of our primary markets.
So you’re adding financial crimes to the set of things you’re doing to found your company? Selling securities is a HUGE deal with tons of complex and subtle laws governing it. This isn’t because “governments are stupid” it’s because fraud in the sale of securities is so easy and such a problem. In the US it’s actually the state attorneys general and state regulators who are the most focused on this sort of thing, though the federal government also gets involved. Your jurisdiction maybe be different but this stuff carries across borders. Please, do yourself an incredibly important favor. Run, do not walk, to the nearest large law firm and tell them you’re interested in their services. Then listen to them. It will be expensive but cheaper than being prosecuted for securities fraud, which will happen because it’s a much easier way for the government to shut your company down than going through the front door. Oh, and when the word fraud is tacked onto a corporate indictment, as a good rule of thumb it means the corporate veil is peirced and they can go after your personal assets as well, not just the company’s assets. What you’re doing is a really bad idea unless you have a top law firm behind you telling you it’s ok (and even then you need to be following their instructions to the letter).
P.s. if you get the securities regulatory stuff wrong, even if the governments don’t go after you your investors have almost perfect leverage to force you out of business at any time they wish, turning that 5% investor into a 51% controlling interest, simply because you screwed up your securities offering.
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#124Is this a landing page that was put together last minute? It seems like it. Look a the teams page, the same two people are the placeholder image for every team member. How serious is Kodak about this really? https://www.kodakcoin.com
Crazy theory, but their stock very steadily this year and a lot of retail investors probably had short positions that they've been holding as a result. Lets say they threw this whole thing together betting that it would cause a bump in value. I'd bet the stair step on the price chart was a cascade of margin calls against all the short sellers because all the brokerages were forced to buy the stock to cover, further r…
hmm it would be an insane reputation risk for the private equity firm behind Kodak, but still very plausible.
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#125Can somebody explain the value-add of the blockchain portion of this vs just licensing the photo by uploading to a website?
The former makes your stock price double overnight.
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#126Somebody 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
They must have some incredible cloning technology - the CEO, the COO, and the CTO are all clones!!
It's a storage optimization in the kodak photo technology - replacing one face with another.
It's the next step beyond the Xerox photocopiers: https://www.theregister.co.uk/2013/08/06/xerox_copier_flaw_m...
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#127>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 Can we blame them? Their stock is up 125% today [1]. 44 million shares traded on the NYSE on 43 million of these shares outstanding (Kodak has a weird cap structure). Literally every owner of Kodak Common New had the opportunity to cash out, simply on the coattails of management penning a press release. (Including management!) [1] http…
Management cannot until the information has been absorbed by the public, which is usually considered to be 2-3 working days.
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#128Earlier quoted context omitted.
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.
ETH: https://etherscan.io/chart/pendingtx
XRP: can't find, maybe you can provide it for us?
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#129Earlier quoted context omitted.
> 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.
It’s the new buzzword. Blockchain has very specific technical use cases that are not appropriate for networks where all participants know and trust each other.
I’m more curious why alternative governance models are not achieving more traction. The corporation as a way of governance is obsolete compared to a DAO.
Re: Kodak shares up as it announces KODAKCoin cryptocurrency
#130>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…
I can't wait to be in court with someone arguing that KODAKCoin is evidence of their ownership of their work, or to fight a malicious registration on the KODAKCoin platform by someone who registers public domain and non-owned works maliciously.
Explaining this nonsense to a judge is going to be the highlight of my year.