(BlockBar) The legacy camera brand Kodak announced its new blockchain-based document management system. This was announced at a two-day conference in Rochester, New York. Kodak Document Management Platform is not under license to a third-party and is an actual Kodak product, unlike its previous Kodak-blockchain announcements. The platform is intended for businesses and governments to store and manage sensitive documents.
According to the company, Kodak Document Management Platform relies on blockchain to provide efficiency and security. The company also claims that the blockchain platform will lead to 20-40% cost savings through automated workflows and decreased human management of content, documents, and information.
Kodak’s beginnings as an information solutions provider is to be traced to a 2013 statement, which said the firm “has transformed into a technology company focused on imaging for business. Kodak serves customers with disruptive technologies and breakthrough solutions for the product goods packaging, graphic communications and functional printing industries.”
In January 2018, a third-party licensed the Kodak brand name for KODAKCoin. It was designed to work with a blockchain developed to track image copyrights online. Kodak’s stock price jumped from $3.10 to a high of $13.28 the next day in heavy trading. Polarized voices proclaimed the move as either a great reinvention for a 130-old firm, or just another scam. To be noted that ultimately, the currency was delayed. But the project is still under development with a scheduled July 1, 2019 launch.
According to the parent firm “In light of the increased worldwide regulatory interest in ICOs, RYDE Holding, Inc. is taking the necessary measures to ensure that our offerings comply with all applicable securities and other laws.” RYDE Holdings in conjunction with ICOx Innovations has built the database of image rights under Eastman Kodak’s name, though the coin is not yet trading.
It is worth noting that in licensing claims by photographers who had monetized their work, KODAKOne has reportedly generated more than $1 million. Eastman Kodak’s current stock price is $2.30. The company’s stock is up on announcement, despite Kodak’s baptism by fire into the world of smart contracts, digital assets, and blockchain.
