Kodak Plans to Raise $50 million in Token Offering
Wenn Digital, the developer of Kodak’s image protection blockchain platform, is seeking to raise $50 million from both public and private token offerings, Reuters reported on Thursday. The platform, named KODAKOne, was designed to protect the copyright of photos and images. The company initially planned to initiate the token offering in January 2018, but had to take a step back in order to comply with the rules of the US Securities and Exchange Commission (SEC). KODAKOne will use the Simple Agreement for Future Tokens (SAFT), classifying tokens as a security and limiting the sale to accredited investors. Under a SAFT offering, the blockchain platform should already be launched for tokens to be issued, which is expected later this month. The company has already tested the market with a recent pre-sale, raising around $10 mln. Wenn’s token will be called KODAKCoin, with the public offering due to take place on May 21.
Rapper Mims to Launch Blockchain-based Company
Award-winning rapper Mims has co-founded RecordGram, a project which aims to help artists and producers create music and uses a blockchain to facilitate royalty payments and control artists’ digital rights.The project works through an app that both producers and artists can sign up for. According to RecordGram’s website, the app enables members to create and store notes and audio clips, and listen to materials that have already been shared. The app’s token, called “tune”, was created to “solve digital songwriter rights and royalty transparency issues for the music industry,” the website says. In doing so, it stores artists’ content, created on the platform, using a blockchain. Users can convert “tunes” into RecordGram credits to purchase clips or tip the artists. Mims has stated that he will be revealing more about the project at the Crypto Influence Summit in New York on May 17.
Dutch Ministry Presents National Blockchain Research Agenda
Rob van Gijzel, ambassador of the Dutch Blockchain Coalition, presented the country’s national blockchain research agenda on May 8. The agenda was commissioned by TopTeam ICT, the Dutch Advisory Committee on Blockchain, a specially designated unit tasked with researching blockchain’s potential influence across multiple areas. Its’ ‘360 degree scope’ covers a wide range of issues - blockchain’s technological and economic impact, legal issues, and ethics.
TopTeam ICT will focus its research on three broad areas:
- Trustworthiness - Trust in social and legal institutions vis-a-vis blockchain technology, personal trust in the “veracity, accuracy and security” of information on the blockchain, as well as blockchain’s reliability, immutability and performance.
- Sustainability - An analysis incorporating energy consumption, scalability, and protection against disruption and potential attacks.
- Governance - Legal compliance (particularly related to privacy and identity management), management of technology transition and evolution.
Dr. J.C. van de Pol of the University of Twente commented: “This research agenda for blockchain is unique in taking its starting point in responsible science and aims at designing a technology for society, based on shared public values. The overarching concerns - trust, sustainability, governance - lead to a wide variety of research questions, which are now put on the agenda in a single coherent vision.”
Total cryptocurrency market capitalization stands at $397 009 744 574
Bitcoin (Bitcoin) is down 6,01% to $8 795,62
Ethereum (ETH/USD) is down 8,10% to $702,38
Ripple (XRP/USD) is down 14,01% to $0,690323
Bitcoin Cash (Bitcoin.Cash) is down 14,32% to $1 422,14
EOS (EOS/USD) is down 14,67% to $15,47
Click here for the full list of ongoing ICOs.
By Nadya Astam