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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

#161

Post by wibblewobble »

jacquesm wrote: post #66
mywittyname wrote: post #46

Earlier 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.

Blockchain should not be a thing in a start up pitch. If you truly get the tech and have a sound solution it’s not a way to make money. It’s a means to disintermediate and that includes the person building it.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#162

Post by wibblewobble »

throwawayjava wrote: post #154
cryptoqueen wrote: post #122

Earlier quoted context omitted.

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.…

> I think the difference is that Ascribe doesn't have a token, so payment doesn't take place on the platform. Who cares? More concretely, how many professional or semi-professional photographers care ? > Bottom line though, everyone knows Kodak and no one knows Ascribe But Ascribe is building useful technology while Kodak throws around buzzwords.

All ascribe does is add a time stamp to an image, really not that useful except for those with a naive understanding of copyright.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#163

Post by wibblewobble »

SkyMarshal wrote: post #147
EnFinlay wrote: post #4

In some respects this seems like a better application of blockchain than a lot of ICOs. On the other hand, it isn't clear how they're going to solve the oracle problem of deciding who has the canonical rights to a given photograph.

Without having read the details (I cbf) I assume Kodak is the sole oracle here and the problem is solved by you trusting them to reliably provide accurate data to the chain. Which technically negates the entire point of a blockchain here, but it's a lot more sexy to be using a blockchain than a database.

Ahh someone spots the emperor is naked!

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#164

Post by drewm1980 »

eat_veggies wrote: post #152
twanvl wrote: post #72

Earlier quoted context omitted.

Wouldn't it be enough to submit a hash of the photo? Then sure, that hash is around forever in the blockchain, but without the original photo that hash is useless. It can only be used to prove that the photo existed at the time the hash was added, and with a digital signature, who added it.

You could steal a photo by tweaking a single pixel or EXIF field, and suddenly it's an original image with no registered hash.

Yeah, any system like this has to deal with the analog hole somehow, and there really are no perfect solutions. Reminds me of the post the other day about a white noise video on Youtube getting a bunch of copyright infringement notices. You can take a signal out of the analog, but you can't take the analog out of a signal!

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#165

Post by wibblewobble »

goodroot wrote: post #64

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 some…

This is a typical example of not understanding the problem they going to solve, but naively assume because ether rum is awesome it can solve everything.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#166

Post by QML »

kensai wrote: post #110
goodroot wrote: post #64

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 some…

How do you know it's leveraging Ethereum? Link?!

“We are using Ethereum Smart Contracts, but we’re also developing our own proprietary blockchain and will evaluate the optimal solution during development,” Kodak said in a statement." [1]

It seems that the Kodak name is just being used by a company called WENN Digital for this cryptocurrency. More importantly,

“This is a WENN digital currency,” Kodak said in a statement. “Eastman Kodak Company will not be an issuer of the ICO, will not receive proceeds on the ICO.”

[1] https://www.marketwatch.com/story/kodak-boards-the-blockchai...

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#167

Post by QML »

goodroot wrote: post #64

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 some…

I disagree with the characterization of magical. Ethereum is already having issues with scaling (e.g. low amount of TXs per second and non-trivial fees). Plus, everytime you interact with an ERC-20 coin, you have to pay the fee in ether.

I'm not saying these ideas aren't cool, but implementation of them sucks. If you look at the Kodakcoin, it seems the Kodak name is only being used and the company itself isn't involved in the project.

“This is a WENN digital currency,” Kodak said in a statement. “Eastman Kodak Company will not be an issuer of the ICO, will not receive proceeds on the ICO.”

"Today Kodak and WENN Digital, in a licensing partnership, announced the launch of the KODAKOneimage rights management platform and KODAKCoin,... WENN Digital, in partnership with Kodak, is the creator of the KODAKOne platform and the KODAKCoin cryptocurrency." [2]

[1] https://www.marketwatch.com/story/kodak-boards-the-blockchai...

[2] https://www.marketwatch.com/story/kodak-and-wenn-digital-par...

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#168

Post by hasa »

bonzini wrote: post #127
JumpCrisscross wrote: post #114

Earlier quoted context omitted.

> 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.

There are of course frontmen or front companies doing the job

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#169

Post by Keres »

eat_veggies wrote: post #152
twanvl wrote: post #72

Earlier quoted context omitted.

Wouldn't it be enough to submit a hash of the photo? Then sure, that hash is around forever in the blockchain, but without the original photo that hash is useless. It can only be used to prove that the photo existed at the time the hash was added, and with a digital signature, who added it.

You could steal a photo by tweaking a single pixel or EXIF field, and suddenly it's an original image with no registered hash.

You can do a lot to mitigate that http://www.hackerfactor.com/blog/?/archives/529-Kind-of-Like...

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#170

Post by rebuilder »

ShabbosGoy wrote: post #129
jacquesm wrote: post #66

Earlier quoted context omitted.

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.

It's going to take several DAOs being profitable and not getting exploited into oblivion for years before the idea can gain any traction.

Oh, "blockchain" is not a proper name or an uncountable noun, btw...

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