"It becomes ridiculous." Should I believe the companies that suddenly engaged in blockchain?

If earlier only private investors-enthusiasts were interested in cryptocurrency, now more and more large companies pay attention to it. For some crypto and blockchain, they became the technologies of the future, and for others - a way to correct the financial situation and attract additional investments. Promotions are growing with a crazy pace, but experts warn: after the words of the words “crypto” or “blockchain” in the name of companies, it is better to display assets.

On the morning of January 10, Kodak (then her shares cost about three dollars) announced that she was creating her own cryptocurrency called Kodakcoin. The company explained that first of all, photographers will use it: they will be paid for the rights to the pictures in the crypt. After some time, the price of Kodak shares increased by 119% to $ 6.80, and capitalization - up to $ 289.5 million. Graphically, the situation looked like this.

Kodak shares price

“For many in the Tekhindshestvost,“ blockchain ”and“ cryptocurrency ”are just fashionable words, but for photographers who have been trying to get the rights to their work for a long time, these words can solve what seemed like an unsolvable problem,” the words of the head of the company Jeff Clarke are given in the press release.

Kodak, founded in the 19th century, has long become problematic. In 2012, they decided to go bankrupt in order to save from collapse. Many patents sold (among buyers were Apple, Facebook, Fujifilm and Huawei), and in 2013 the company announced that she decided to focus on business printing. According to the latest financial reports, according to the results of the third quarter of 2017, the net loss of Kodak amounted to $ 46 million.

From cold tea to blockchain and cryptocurrency

Kodak was not the only company that decided, if not to save, then at least correct her position due to the popularity of cryptocurrencies. One of the most striking and revealing cases was at the end of December 2017. Then The Long Island Tea Corporarion, which produces cold tea and lemonade, announced that it is renamed Long Blockchain Corporation and is concentrated on the study of the blockchain sphere. After that, her shares grew by 200% in one day.

As Bloomberg later found out , the company actually saved itself from an exception to NASDAQ due to low capitalization. In October, the exchange sent Long Island notification, where she warned that the manufacturer needs to achieve $ 35 million for 10 working days in a row. In addition, the company did not show the profit already 11 quarters.

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