One of the oldest and best established American companies, Kodak, announced its decision on January 9th to join the cryptocurrency party. Originally founded in 1888, the Eastman Kodak Company has been struggling to deal with the advent of new technology, especially having to give up pride of place after the change from celluloid to digital photography. However, its stock just doubled in price, after the announcement at a Las Vegas electronics show that Kodak is creating its own cryptocurrency.

The new token, called, KodakCoin, will be launched on January 31st, in an ICO open only to accredited investors. The token is to power the company\'s new KodakOne platform, which will offer image registration and licensing services to photographers. The platform will also enable registered users to monitor the internet for unauthorised usage of their pictures.

Jeff Clarke, Kodak\'s CEO, said that cryptocurrency and the blockchain tech are key to solving a previously insoluble problem. The company had always sought for a fair way to license artists and democratise photography, and the new tech offers their community an easy and innovative way to do so. 

Kodak will also use the blockchain to start a cryptocurrency mining initiative, the Kodak KashMiner, with mining rigs in their Rochester, NY headquarters available for rent to customers.