KODAK seems to be interested in the world of cryptocurrency. The legendary company is planning to launch its own crypto-money while providing others with means to harvest their own. (Logo via Kodak)
Is this the future for all business?
Who hasn't heard of the company Kodak? The company was reputed for its cameras but faded away as the world saw cameras in cellphones. How many people have bought a separate camera machine to take photos? As a matter of fact, a study showed that the more smartphones are sold, the less individual cameras are sold. There are even movies shot with smartphones these days. In such circumstances, it is no wonder why the stock price for a Kodak share was as low as $3. It is often said that for a company to survive year after year, it has to learn to adapt. And that is what Kodak is attempting by getting involved with cryptocurrency.
From Ethereum, Riple, Litecoin all the way to Bitcoin, the lists of cryptocurrencies just keeps growing. Some businesses are even using it as a form of payment to the independent contractors they hire. Some believe that cryptocurrencies might take over one day on currencies used today. From examples like Amazon.com, Youtube.com, and many others, the world has learned that the early adapters are always favored. Therefore, there is no surprise that Kodak wants to join the cryptocurrency wagon before the train leaves the station. The company announced that it will start to offer its own currency called Kodakcoin, and provide resources to others to mine their own cryptocurrencies as well with a Kodak machine called KashMiner.
(Image from zdnet.com)
The news of Kodakcoin coming to the market by January 31st, 2018 caused the price of Kodak shares to almost doubled, while leaving a few people skeptical about the company's real intention. The idea behind Kodakcoin is to solve the issue of photographers not getting paid soon enough after they submit their pictures to potential buyers. With Kodakcoin, photo artists are supposed to get paid as soon as their pictures are acquired. photos through the company's platform. Unfortunately, there might be a chance that Kodak is launching its own cryptocurrency only to boost its visibility on the stock market, and might not actually follow through completely with the idea. When it comes to KashMiner, Kodak is offering the machine for $3,400 plus half of the proceeds from the mining. The first question is how reliable is the machine, given that to mine one cryptocurrency it usually takes a great deal of hardware. Another question that arose about KashMiner is whether its cost is worth the enterprise.
After comparing the actual cost of mining cryptocurrencies and the cost of KashMiner, along with analyzing how easy it is to mine, experts believe that the actual value of cryptocurrencies have to be $28,000 the piece or up to make the acquisition of KashMiner a good deal for prospective miners. Regardless of the opinions, only the future will tell what Kodak's real intentions are, and whether the company is on the right track to fly again. Meanwhile, it might be a good idea for qualified investors to keep an eye on the company for possible wins.
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