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KODAK announces new blockchain-based document management platform

Image: CARLOS ORTIZ| USA Today

Thu, 06 Jun 2019, 03:56 am UTC

Kodak Services for Business has announced a new blockchain-based document management platform which will help ensure the safety and security of information.

Kodak Document Management Platform was unveiled alongside the KODAK Scan Cloud, a solution designed to process data from anywhere, at a recently held two-day conference.

According to the details on the official website, Kodak Document Management Services makes it easy to store, manage, and track electronic documents and images. It will allow users to scan their critical documents to the cloud, automate workflow, and make content available throughout their organization.

“KODAK Document Management Platform using Blockchain Technology integrates document management solutions with our partners to serve your organization. We will analyse your workflow and recommend the best technology to meet your process improvement goals,” it states.

Kodak claims that the blockchain platform will lead to 20-40% cost savings and enhanced management of back office content, information, and documents.

This, however, is not the photo giant’s first venture into the blockchain space. Kodak announced its blockchain vision last year with the announcement of KODAKOne, a blockchain-powered image rights management platform, and KODAKCoin cryptocurrency, in partnership with RYDE Holding, formerly Wenn Digital.

Earlier this year, RYDE Holding, the creator and operator of KODAKOne, announced that the platform has generated post licensing sales of more than $1 million since its beta launch in October 2018.

Regarding the KODAKCoin cryptocurrency, the final phase of its token offering was scheduled to start on May 21, 2018. In a progress update published on January 04, KODAKOne said that it did not launch an initial coin offering (ICO) but rather a SAFT offering, which fell short of its original funding goal.

“Our SAFT Offering did not reach its original funding goal but, importantly, remained in compliance and has no regulatory issues. The KODAKOne SAFT Offering has raised $5 million so far and we expect to see much more economic activity once our technology is 100 percent live,” the post reads.

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