KODAK’s ICO: The Magic Dust of Blockchain
KODAK announces ICO at CES 2018 and immediately its shares (KODK) growth up to 57% with intraday peak value over 100% and year-to-date rise about 200%.
OK, one more ICO. Why everybody is so excited about this news?
Well, KODAK is a legendary company established in 1888, long-time leader in film industry who loosed almost everything and avoided bankruptcy in 2011 only by miracle. The story was sad: KODAK invented digital camera even in 1975 but didn’t believe that this cumbersome device sometimes would kill its prosperous camera and film business. Nevertheless, it’s happened — however later, in the mid-2000s.
Trying to catch the train KODAK developed digital strategy, though, there was little implementation of it: core business faced no pressure from competing technologies and management underestimated the speed of changes. Customers drop off film cameras for digital ones just in few years.
Prophets of Digital Transformation has buried KODAK and mentioned it in one line with Nokia and Blackberry as classical case of falling down Industrial Age idols because of their neglect of digital technologies. Now, after several years of being in clinical death, the old hero probably returns.
Oh my God! — cryptocurrency mining, platform for protecting IP rights for images, and ICO — welcome back in the world of alive! Indeed, is it enough to say “Blockchain!” over company’s lifeless body and you witness its resurrection? Yes, magic dust of blockchain is still able to attract a big portion of investors’ attention and stimulate trading activity. But can it really revive the business? Many commenters doubt. Of course, we don’t know, would it be success or not. Anyway, we respect this desperate attempt “make KODAK great again”.
More interesting, that magic dust of blockchain has a transmittable effect — after Global Blockchain Technologies Corp. unveils it buys all KodakCoins available at pre-ICO for $2 million, its own shares the same day jumped 24% (with about 50% peak value).
Tokenization vs. ICO: The BANKEX way
BANKEX considers this initiative as highly positive sign for the market. Seriously, it is a very good news — not because of KODAK itself. It means traditional business begins to comprehend advantages of cryptotechnologies and have intention to use them. Sooner or later other companies from the real sector of the economy will follow this way and current crypto-hype will turn into mainstream.
Who says ICO is the only door to enter crypto-world? BANKEX offers any enterprise, generating sustaining cashflow smarter path to a wonderland of blockchain — without hiring special team, supporting expensive ICO infrastructure and diving deeply into blockchain technology. All these things are non-core business for real sector enterprises. But how? The answer is ISAO — Initial Smart Asset Offering, a new way for businesses to raise capital using asset tokenization based on the BANKEX Proof-of-Asset protocol, that solves the issue of non-fungible asset liquidity.
The ICO procedure is more suitable for technical platforms and infrastructures that contribute to the growth of the decentralized economy. For tokenization of real assets in different sectors of the economy ISAO is more suited.
Key to success: Partners and Community
If you are from real sector, find partners from digital world: there are no time of creating blockchain expertise in-house. KODAK collaborates with WENN Digital Partners, specialists in creating and managing digital assets. Its mother company WENN is celebrity and entertainment news agency — from this point of view partnership looks promising, as far as this segment looks highly demanded — many people like illustrated magazines about stars live.
The second pillar of success in decentralized economy is community. Any blockchain projects goes alive only when it is supported by a number of people. Remember, community members are not equal to customers base, they have other motivation. KODAK aims to photographers — we think it is right.
From static to moving pictures: BANKEX and MovieCoin
While KODAK and WENN are just planning tokenize celebrity photos market, BANKEX starts project in the movie industry.
Last November in Hollywood, BANKEX announced that the company has reached an agreement with MovieCoin LLC to develop MovieCoin™, which is an innovative blockchain platform for movie finance. Led by Christopher Woodrow who has helped produce or finance movies for the past decade (“Birdman,” “Hacksaw Ridge”), MovieCoin™ will use BANKEX’s blockchain based Proof-of-Asset protocol (PoA) to help film industry raise funds with greater ease and speed.
MovieCoin will be presented at Cannes in May 2018. This platform will allow investors to finance blockbusters with minimal risk. Estimated budget for platform development is $100 million, its annual turnover can achieve few billion dollars.
“Actually, MovieCoin is the first one from 10 ones we build. The next thing we think about would be intended for financing musicals production in Hollywood, then will follow platform for mortgage securitization and others,” said BANKEX Founder and CEO Igor Khmel.
Secret Recipe from BANKEX
So, you see that blockchain has enough magic and works as a magnet for money — in every industry — finance, retail, insurance, photography, movie making, healthcare, mining (yes, real mining, not cryptocurrency), etc. KODAK demonstrated that very earnestly.
Don’t hesitate and gain momentum — start your own crypto-project. Of course, there is a lot of hype around and you must be very careful: many agencies offer to launch your ICO. But the truth is you don’t need ICO at all if you want just get investment and improve cashflow for your business. Going ICO not only expensive but often useless and can harm your reputation if community considers it is a scam.
BANKEX knows a secret recipe how to mix in right proportions magic dust of cryptotechnologies with essential value of your business to create fantastic new product and bring it to the market.
