Wall Street likes Kodak’s move into cryptocurrency

GaryPageau , , ,

Shares of Eastman Kodak Co. nearly doubled yesterday when the Rochester, N.Y., company announced a cryptocurrency aimed at photographers, called KodakCoin. While some companies have added “blockchain” as a supposed gimmick to boost share price – like this Long Island Ice Tea brand – but the press coverage has been remarkably forgiving.

Kodak is getting notice because digital rights management (DRM) is considered one of the benefits of cryptocurrencies. Jeff Clarke, Kodak CEO, noted in the announcement: “KodakCoin is all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new economy tailored for them, with secure asset rights management built right in.”

Editor’s Note: Does anyone else find the name “KodakCoin” awkward? Wouldn’t a better name be “Kodacoin,” following “Kodacolor” or “Kodachrome” nomenclature?

 

 

 

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.