Kodak has announced the KodakCoin crypto currency. The company's shares immediately doubled

Recently, there has been an interesting trend - companies are rising sharply in price, if they announce the launch of a blockage, or even simply add this word to the title. Kodak, which announced a blockbuster platform for KodakOne photographers and KodakCoin's crypto currency, was no exception. Literally a few hours later the share price of the manufacturer has more than doubled (+ 117% at the close of trading).

How it works?

KodakOne will allow photographers to sell their works, as well as help protect intellectual property rights. The platform uses smart contracts, and the author's share instantly enters the account in the form of KodakCoin coins. Representatives of the company add that the artificial intelligence system will monitor the use of images on the Internet and report cases of their illegal placement. Also mentioned is a store in which users can spend tokens, starting with payment for the services of models for photo sessions and ending with the reservation of rooms in the hotel.

So far, Kodak's affairs have not gone very well. Over the past year, the company's shares fell almost five times, and in November, it was announced that 425 jobs had been cut, about 6% of the entire staff. The news about the launch of the crypto currency attracted the attention of investors, and the fall turned into a sharp take-off. Start ICO (primary location of the tokens) is scheduled for January 31, but what this will result in the end - is unknown.

Source: Kodak