Kodak Last-Gasp Hope: KodakCoin [The New York Times]
LONG BLOCKCHAIN CORP COMMON (LBCC)
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Source: The New York Times
Photo Final preparations being made to the Kodak stand at CES, the electronics trade show held this week in Las Vegas. Credit David Mcnew/Agence France-Presse — Getty Images What do you get when you cross the feverish world of cryptocurrencies and a faded industrial giant desperate for a new lease on life? The answer, provided Tuesday by Eastman Kodak, is KodakCoin. Kodak filed for bankruptcy protection in 2012 after fumbling the shift to digital images. Now, the company is betting its future on digital currencies with an initial coin offering intended to help photographers sell their work. The announcement more than doubled Kodak’s stock, but it’s unlikely to do anything like the same to the company’s sales or profit. Kodak, based in Rochester, N.Y., emerged from bankruptcy in 2013, relieved of much of its debts and patents. It refocused around digital printing, packaging and a legacy film business that’s a shadow of the glory days w
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