What is Kodak Coin and is Kodakcoin a Scam?





So there is a lot going on in the world of cryptocurrency  right now and lots of companies seem to be hopping on the bandwagon hoping to  cash in. One of them as of late is Kodak, the  camera and printing company. You have heard and you wonder now what is kodak coin and  is kodak coin ultimately a SCAM?

Well you are in  for a  crash course treat my friend. Here  you are going to find all kinds of valuable information on what this is all about and  be able to put together for yourself whether  this is indeed a scam. So lets get on with it!

First what  exactly is kodakcoin?  Kodakcoin is  cryptocurrency (a digital asset intended to be used as  payment on a blockchain  network)    created by  the partnership of   the Kodak and Wenn Digital companies. This  cryptocurrency is intended to be used on  a blockchain.  A blockchain is basically a digitial ledger  or collection of  all transactions involving the use of  said cryptocurrency.  The blockchain can also be used to keep track of any kind of record basically.

In this case  Kodak coin will be  paid to photographers in exchange for their  work  being uploaded to KODAKONE the name of the  kodak network keeping track of all this. So when  photographers upload their work to the kodakone network or blockchain.  They will be paid for it and anytime it is used. The kodakone network will do several things. Keep track of  the photographer’s work online and make sure they get paid. They will also pay  photographers directly for their work.
This can come across as a ideal situation since many  photographers have their  work stolen or used without their  permission or payment in  return. The Kodakone network with the use of  blockchain hopes to remedy this problem.

kodakcoin ,kodak coin
Kodak Coin to Help Photographers

Is Kodakcoin a scam to take adavantage of the  new  cryptocurrency  craze?
Well there  does seem to be  a few indicators that   this new move might just be a way for kodak, whose stock and  company has been going down in  the recent years, to make a quick cash grab.

First back in  2012  kodak had to file for  bankruptky and  hasn’t really been doing that well. Anyone can type in kodak bankrupty and read all about it. Then there was  some  news of a coin project  called  RYDE coin being  promoted on a crowdfunding website called  Get Started Engine and only raising about $800 or so.  While the page is no longer available to see. Google cached a version of it Jan 3rd. This RYDE  coin was  started by Wenn digital which is he same company that partnered up with kodak to  created kodak coin which was  annoucnced mere days after the  aborted of RYDE coin project.



So it would seem that  Wenn digital sought out Kodak  for a licensing deal to use  their name and rename their failed coin project or kodak saw a way to  use their name  to get inonthe cryptocurrency craze in name only.  Since kodak is a well known name and marketable for trustworthiness and  cryptocurrecny  is the buzzword nowadays. This seemed to be a way for both companies to be instantly profitable. This was proven true when  Kodak announced  their new  cryptocoin kodakcoin and witnessed their stock prices go from around  $4 a pop to  over  $12 in  a mere 24 hours.

They also  announced that  they would be doing an initial coin offering or  ICO on Jan 31st 2018.This where they offer  anyone who is interested to  trade their  fiat  currency or  bitcoin  for  an amount of kodakcoin in exchange. This might  seem like a steal especially if the  coin really does  go up  exponentially.

So should you invest in kodak coin  when it merely seems to be a rebranding of a failed coin project and  kodak the company itself is mainly known for  photography and has had issues in  the past with being profitable. Also keep in mind the compnay that they  partnered with  Wenn Digital is ultimately  not known for  dealing with  blockchain technology either.

 So one should really research and maybe even wait for a white paper (a white paper is basically where a company or  developers explain the  project, the vision and  eventual outcome of a said project )and currently  one has not been found for kodakcoin to  appear before investing in this too much!



Comments

Popular posts from this blog

What the Heck is Tron (TRX) and Why Buy Tronix?

How to Buy OR Purchase Tron (TRX) Easily RIGHT NOW!

3 Solid Tips for Doing Well in CryptoTrading TODAY & NOW!