Introducing the Document Management Blockchain-based Platform by Kodak
Kodak is a well-known brand in the photography industry that has now joined big companies active in the Blockchain industry. This new product has been released under the name Kodak Services for Business for storing, management, and tracing sensitive and important data.
The company of Kodak introduced its document management Blockchain-based platform in a two-day conference in New York. Kodak is a well-known brand in the photography industry that has now joined big companies active in the Blockchain industry. This new product has been released under the name Kodak Services for Business for storing, management, and tracing sensitive and important data. According to Kodak, new services of Kodak use Blockchain to store data in order to provide security and efficiency for customers through its benefits. Also, according to the remarks by this company, by implementing the automated workflows and eliminating the human interference in this new platform, the costs for document management will decrease from 20 to 40 percent. In this two-day conference hosted by Kodak, another product named Kodak Scan Cloud was introduced. This product provides safe data process anytime anywhere based on cloud technology.
The document management platform is not the first attempt by Kodak to enter the field of Blockchain and cryptocurrencies. This company introduced that KodakOne last year and established the Blockchain infrastructure for storing and tracing photo copyright for photographers. Furthermore, in this infrastructure, a cryptocurrency named KODAKCoin was released in January 2018 with the collaboration of RYDE Holding (previously known as the Wenn Digital). The aim of releasing this cryptocurrency is providing the trading tool needed for getting photo permit. Kodak has used the Ethereum platform to develop this product. KodakOne will use web crawlers on the web to search among millions of photos on the internet and analyze their permits. In KodakOne the property rights of photos are registered in the Blockchain permanently and immutably so that the photographer can enjoy the other services of this infrastructure. The photos will come along with a smart contract, which includes terms and conditions. Ultimately, the users of this infrastructure will not need a separate payment system and will be able to buy and sell the copyrights to a photo using Kodak Coins. The initial digital token offerings of Kodak Coins suddenly got from 3.1 to 13.28 dollars in a day. The release of the news about KodakOne had different reactions; some thought that this was an innovation and some thought that this was an attempt on the part of the Kodak to raise the value of its stock after it had gone broke a couple of years ago. The activity of Kodak came under the 11th chapter of the bankruptcy rules of the U.S. to be able to restructure and plan to get out of bankruptcy and get back to business. Ultimately, in 2013, by changing the focus of its activities, Kodak went back to the field of imaging for businesses with new strategies. The attempts of Kodak to offer Blockchain-based products are the continuation of changes that Kodak went through in 2013. The news of the initial digital token offerings by Kodak was accompanied by a 37 percent increase in the value of its stock. Many experts, due to the lack of knowledge and needed capacities for competition in the field of Blockchain and the financial problems due to the bankruptcy of 2012, look at the new activities of Kodak with hesitation. In any way, KodakOne is being developed and will be operationalized on July 1, 2019.