Kodak's Blockchain Pivot Is A Sham, investment supervisor Says

One hedge fund supervisor is never buying Kodak's blockchain pivot.

In a analysis record released Wednesday, Kerrisdale Capital alleges Kodak's blockchain effort is never exact, going as far as to name it "a last-ditch inventory merchandising gambit for a company hurtling towards chapter." Kerrisdale holds a short position on Kodak's inventory, and is common for giving mighty opinions on public stocks that may move costs.

As reported by means of CoinDesk, Kodak introduced an preliminary coin providing (ICO) on Jan. 9 with a view to apply blockchain technology to clear up copyright issues confronted via photographers. The information was adopted by a 37 percent start in the company's stock, and a period of heightened performance.

however, in Wednesday's document, Kerrisdale Capital referred to its research leads it to trust that Kodak may not be capable of compete with other blockchains startups, because "it's staring on the opportunity of default and a debt restructuring in the subsequent 12-18 months."

As such, the hedge fund argues that Kodak lacks the technological potential and the funding to realize its claimed KodakCoin technology and thus transact and save images over a blockchain.

Addressing its separate plans to enter the mining market as well, the firm furthered its argument that the return of investment on Kodak remains questionable.

The record reads:

"Kodak's cryptocurrency ploy hits all of the main buzzwords – blockchain, smart contracts, dispensed ledger, ICO, and so forth. but appear during the PR spin, investigate the true deserves of using blockchain for the proposed provider, and it be obvious the venture is poorly concept out and may never work as promoted."

As of press time, Kodak has not yet replied with comments.

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Illinois Eyes Blockchain for IDs and Public Asset administration

An Illinois executive task drive has outlined a potential path for making use of blockchain technologies within the state's inter-govt operations.

in keeping with a report filed on Jan. 31 by using the Illinois Blockchain assignment drive to the regular meeting, the state is eyeing using blockchain applied sciences to, as a minimum, manage state residents' identification, as well as tokenizing property within the public sector to improve efficiency and cut back entitlement fraud.

The project drive special within the document that using a blockchain-powered platform would permit state citizens to entry and save all their identification suggestions, equivalent to tax, vote casting, and driver license, and so forth., as decentralized nodes. This consumer-centric model would then let citizens personal the assistance and share with distinct executive companies for public features.

The document states:

"This new model would reimagine the relationship between state and individual, as government would develop into the verifier, in preference to the custodian, of americans's public carrier id. govt would circulate from featuring statistics storage to verifying identification, enabling users to store entry to personal information securely on instruments."

moreover, the group also advised that blockchain technology has knowledge for Illinois' public sector in digitalizing property similar to tax credits, social advantages and municipal bonds, and the like.

by tokenizing these asset through blockchain know-how, such as the ethereum blockchain, can carry transparency to each transaction, the record said. This improves effectivity with the aid of reducing guide forms whereas averting advantage entitlement fraud.

additionally as part of its research initiative, the project drive has additionally published a database that tracks international initiatives which are presently exploring blockchain and allotted ledger technologies in public sectors.

The long-waited document comes as the newest research effort through the inter-executive assignment force, as required by means of the legislative condo to existing skills areas during which the state can utilize blockchain to increase its technological skill.

formed via law in June remaining 12 months, the group sees joint efforts from the Illinois department of economic and skilled law (IDFPR), the cook County Recorder of Deeds and the branch of Innovation and expertise. Others include appointees by using Illinois' secretary of state, and leaders from both the state's apartment and Senate.

Illinois State Capitol graphic via Shutterstock.

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