Kodak is one of the oldest companies in existence. Founded in 1888, it has now been in operation for about 130 years. Before the digital age, Kodak's primary business was in film for cameras of all types. But the company failed to keep up with the competition as the digital age emerged. In 2012, Kodak filed for bankruptcy, which it came out of almost two years later. The company emerged much smaller than the film juggernaut it used to be. In January 2018, Kodak in partnership with WENN Digital announced a brand new photo licensing platform which would be supported by a new cryptocurrency. This ancient company that failed to go all in on other technological revolutions in the past is now jumping in on the cryptocurrency craze. Has its management learned from past mistakes or is this a whole new blunder?
The new platform the company announced is KodakOne. This is a brand new photo licensing service supported by blockchain technology. The cryptocurrency powering the service is called KodakCoin, which began initial public offerings on January 31, 2018. Unlike Hooters creating a new cryptocurrency rewards program, KodakCoin and KodakOne are a possible solution to a current real world problem. If it works, this new platform could create an entire new scheme for image copyrighting.
KodakCoin will work on the KodakOne blockchain platform to provide a completely secure avenue for digital photo rights management. Photographers who hold KodakCoins will be able to upload new images, archive old work, and manage rights for their images on the platform. Users would be able to license their photos right from the platform and get receive payments in KodakCoin. Additionally, Kodak plans to use image recognition software to scour the web for instances of registered images, providing protection for all users on the KodakOne platform.
This new platform is a smart application of blockchain technology to solve a problem that has gone unaddressed for decades. Blockchain essentially functions as a secure public ledger. Every new transaction is added to the list, but due to encryption, no one is able to go back and change past entries. This creates a permanent record of every transaction. Blockchain would be the most secure platform to record image rights and keep track of them into the future. KodakOne makes KodakCoin the most logical and useful cryptocurrency that has been announced recently. It's not a token for token's sake. It will be serving a real, functional purpose that could take off in a huge way.
But what has some investors worried is Kodak's companion announcement: the Kodak KashMiner. The KashMiner is a small computer that will mine for Bitcoin. Investors can rent these machines over a two year period, but they must give up half of the profits to Spotlite — the company Kodak is licensing its name to for this product. According to promotional materials, you're supposed to earn $375 a month based on current Bitcoin value. But this is where it falls apart. Part of how Bitcoin works is that mining for it becomes more difficult overtime. So this profit rate will not keep up over those two years. The KashMiner may be the blunder in the company's cryptocurrency bet.
Nevertheless, Kodak's stock surged in response to these cryptocurrency announcements. Blockchain is the new hot buzzword and everyone wants to get on board.
But while the concept of applying blockchain technology to digital image rights does have potential, there are some concerns for investors looking to hop on to Kodak's new platform early. KodakCoin is not really a Kodak project. WENN Digital is behind the offering and is a company that specializes in paparazzi photo licensing. Another hiccup is the initial offering of KodakCoin is limited to so-called accredited investors in the United States, defined as a person with a net worth of $1 million or more, or an annual income above $200,000. Most photographers that would be benefited by this program would not make the cut off. Additionally, as with all cryptocurrencies, it is unlike KodakCoin will become widely traded. Meaning holders might have to keep their currency indefinitely. And maybe freelance photographers prefer to get paid in cold hard cash instead.
Whether or not KodakOne and KodakCoin function and takes off, you can be sure that this is the beginning of blockchain technology being applied to various avenues outside of just offering a new shiny coin.
- Kodak announces its own cryptocurrency and watches stock price ... ›
- Commentary: Buy Kodak Stock, Not Kodak Cryptocurrency | Fortune ›
- Kodak's Cryptocurrency Is Already Being Presold - CoinDesk ›
- Kodak Is Launching a Cryptocurrency for Photographers - CoinDesk ›
- Kodak Surges After Announcing Plans to Launch Cryptocurrency ... ›
- Why Kodak's cryptocurrency move is a terrible idea | New York Post ›
- Kodak's Dubious Cryptocurrency Gamble - The New York Times ›
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.