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Announced just today so details are still pretty light, but American imaging technology company The Eastman Kodak Company is throwing its hat into the blockchain ring in three extremely surprising ways.
The first is a new CryptoCurrency, the KodakCoin. KodakCoin is tied directly to the second initiative, KodakOne, which is being billed as a digital rights management platform for photographers. Using KodakOne, photographers can purportedly add new and archived images into the system under personal accounts. Web crawlers will search the net for photos loaded into the system, and if the crawler detects an image that wasn't licensed through KodakOne (through some kind of IP address logging), the platform will "assist photographers in getting the site to license the image." This is where the KodakCoin comes into play, as the platform pays out to photographers using the platform in the new KodakCoin CryptoCurrency.
“For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords, but for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem," stated Kodak CEO Jeff Clarke as part of the announcement. “Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that.”
The third initiative seems to be getting into Bitcoin Mining in a very corporate way, which seems to be initiated in two ways. Firstly, Kodak's headquarters have a power plant on site, which has had spare capacity since its construction, and its a simple way to exploit this spare energy. Secondly and more surprisingly is the Kodak KashMiner:
This image was taken from the internet without permission and not licensed on any platform in any way.
The Kodak KashMiner is a Bitcoin mining rig that you do not purchase, but license rather, through one of Kodak's partners in the venture, Spotlite Energy Systems. Consumers pay an upfront amount of $3,400 for a two year contract to license the KashMiner. In documentation available at CES 2018 where the product was announced, its laid out that the KashMiner will produce around $375 in Bitcoin per month, ending in $9,000 in approximate earnings after the 24 month contract. However, as part of the license, Spotlite is entitled to 50% of the proceeds of the Bitcoin production, meaning you estimated earnings are closer to $4,500.
This image was taken from the internet without permission and not licensed on any platform in any way.
This license is called the Kodak Bitcoin HashPower Upfront Payment Plan and has some interesting additional print if you read carefully, particularly in regards for whom pays what.
Now I'm a CryptoCurrency babby but even I can see why this seems like a scam. I'm pretty sure you can't guarantee the same monthly earnings the way this documation does, and the profit margin is already so slim it seems like the consumer will be lucky to break even on this deal, all while you pay Spotlite for hardware you don't actually own. I'll let actually smart people who know about how CryptoCurrency farming works go through the details and point out the practical application fallacies of running one of these things with their smart brains better than I can though.
As for the KodakOne and KodakCoin initiatives, I'm sure nobody will upload someone else's stolen materials onto KodakOne before the actual artists do and create a bunch of false content flags, they probably know what they're doing better than companies like YouTube who've mucked this up before, honest.
And as for KodakCoin (The official currency of the KodakOne platform and the only thing Kodak's gonna pay you in for using KodakOne), didn't we figure out that Company Scrip was a bad idea back in like, the end of the 19th century?
Despite this, apparently all you need to do is say the words "Blockchain Initiative" in a press conference and people will throw money at you. Kodak's slowly eroding stock prices doubled in a single day, nearly tripling if you count the "after hours" listings, so mission accomplished for Kodak, at least so far.
Sources:
http://www.bbc.com/news/technology-42630136
http://www.businessinsider.com/kashminer-kodak-bitcoin-mining-2018-1
http://www.zdnet.com/article/kodak-bitcoin-miner-on-display-at-ces-2018/
And like one or two other websites that said pretty much the same thing in different verbiage, its all easy to find on google.
The first is a new CryptoCurrency, the KodakCoin. KodakCoin is tied directly to the second initiative, KodakOne, which is being billed as a digital rights management platform for photographers. Using KodakOne, photographers can purportedly add new and archived images into the system under personal accounts. Web crawlers will search the net for photos loaded into the system, and if the crawler detects an image that wasn't licensed through KodakOne (through some kind of IP address logging), the platform will "assist photographers in getting the site to license the image." This is where the KodakCoin comes into play, as the platform pays out to photographers using the platform in the new KodakCoin CryptoCurrency.
“For many in the tech industry, ‘blockchain’ and ‘cryptocurrency’ are hot buzzwords, but for photographers who’ve long struggled to assert control over their work and how it’s used, these buzzwords are the keys to solving what felt like an unsolvable problem," stated Kodak CEO Jeff Clarke as part of the announcement. “Kodak has always sought to democratize photography and make licensing fair to artists. These technologies give the photography community an innovative and easy way to do just that.”
The third initiative seems to be getting into Bitcoin Mining in a very corporate way, which seems to be initiated in two ways. Firstly, Kodak's headquarters have a power plant on site, which has had spare capacity since its construction, and its a simple way to exploit this spare energy. Secondly and more surprisingly is the Kodak KashMiner:
This image was taken from the internet without permission and not licensed on any platform in any way.
The Kodak KashMiner is a Bitcoin mining rig that you do not purchase, but license rather, through one of Kodak's partners in the venture, Spotlite Energy Systems. Consumers pay an upfront amount of $3,400 for a two year contract to license the KashMiner. In documentation available at CES 2018 where the product was announced, its laid out that the KashMiner will produce around $375 in Bitcoin per month, ending in $9,000 in approximate earnings after the 24 month contract. However, as part of the license, Spotlite is entitled to 50% of the proceeds of the Bitcoin production, meaning you estimated earnings are closer to $4,500.
This image was taken from the internet without permission and not licensed on any platform in any way.
This license is called the Kodak Bitcoin HashPower Upfront Payment Plan and has some interesting additional print if you read carefully, particularly in regards for whom pays what.
Now I'm a CryptoCurrency babby but even I can see why this seems like a scam. I'm pretty sure you can't guarantee the same monthly earnings the way this documation does, and the profit margin is already so slim it seems like the consumer will be lucky to break even on this deal, all while you pay Spotlite for hardware you don't actually own. I'll let actually smart people who know about how CryptoCurrency farming works go through the details and point out the practical application fallacies of running one of these things with their smart brains better than I can though.
As for the KodakOne and KodakCoin initiatives, I'm sure nobody will upload someone else's stolen materials onto KodakOne before the actual artists do and create a bunch of false content flags, they probably know what they're doing better than companies like YouTube who've mucked this up before, honest.
And as for KodakCoin (The official currency of the KodakOne platform and the only thing Kodak's gonna pay you in for using KodakOne), didn't we figure out that Company Scrip was a bad idea back in like, the end of the 19th century?
Despite this, apparently all you need to do is say the words "Blockchain Initiative" in a press conference and people will throw money at you. Kodak's slowly eroding stock prices doubled in a single day, nearly tripling if you count the "after hours" listings, so mission accomplished for Kodak, at least so far.
Sources:
http://www.bbc.com/news/technology-42630136
http://www.businessinsider.com/kashminer-kodak-bitcoin-mining-2018-1
http://www.zdnet.com/article/kodak-bitcoin-miner-on-display-at-ces-2018/
And like one or two other websites that said pretty much the same thing in different verbiage, its all easy to find on google.
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