A Blockchain-Enabled Document Management System has been Launched by Kodak

The Eastman Kodak Company is an American company headquartered in Rochester, New York, and is incorporated in New Jersey technology. The company produces camera-related products with its historic basis on photography. At a two-day conference in Rochester, New York recently, the renowned camera brand Kodak has made its first ‘solo move’ in blockchain space via announcing its new blockchain-based document management system.

This is different from the announcement of popular brands that have been making such moves lately and even unlike prior Kodak-blockchain announcements. Kodak’s new Document Management Platform is an actual Kodak product and not under license to a third-party or partnership. The platform was launched under the name Kodak Services for Business. A third-party had licensed the Kodak brand name for KODAKCoin in January 2018. It was designed to work with a blockchain developed to track image copyrights online. Following that announcement early last year, Kodak’s stock price skyrocketed from $3.10 to a high of $13.28 the next day in heavy trading.

Kodak has been a notable information solutions provider from time past. As far back as 2013, they made a statement saying the company: “has transformed into a technology company focused on imaging for business.”  And also that “Kodak serves customers with disruptive technologies and breakthrough solutions for the product goods packaging, graphic communications, and functional printing industries.” Kodak has definitely lived up to that as they embraced technologies and recently blockchain as well. It also lent its name to be conjoined with some companies involved with tech schemes over time.

After the announcement of the KodakCOIN project last year, the coin was delayed from launching and is said to be under development (to be launched July 1, 2019). The first stall had brought opinions that painted the act as a ploy to just create a buzz around the 130-year-old company or better still a scam.  The parent firm said at the time of the supposed launch, “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 even though the coin is not yet trading. KODAKOne has reportedly generated more than $1 million in licensing claims. But in eventuality next month will give a definitive response to the accuracy of these stalled plans.

Reportedly the new Document Management system platform is intended for businesses and governments to store and manage sensitive documents. According to the company, this management system utilizes the blockchain functionalities to provide efficiency and security. Another claim from the company is that through automated workflows and decreased human management of content, information, and documents, the blockchain platform will lead to 20-40% cost savings.

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Credits – Daniel Kuhn

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