Ahead of the initial coin offering (ICO) of new cryprocurrency KODAKCoin, Kodak partner WENN Digital has teamed up with tZERO.com, the blockchain focused subsidiary of Overstock, it was announced last week. tZERO will advise on the upcoming token launch, providing services including encrypted accounts, clearing, reconciliation and AML/KYC verification, in accordance with U.S. Federal Securities laws.
In a statement, tZERO CEO Patrick Byrne said, “As U.S. regulators seek securities-law compliant applications for companies issuing security tokens, the issuance and trading of KODAKCoin in compliance with securities laws will empower entrepreneurs and protect photographers’ property and licensing rights, while achieving another critical step in defining a new wave of digital capital formation. We welcome the KODAKCoin into the tZERO family and look forward to working with this iconic brand.”
KODAKCoin will power the KODAKOne platform. Announced earlier this month, the new platform will allow photographers at any level to register their work on a secure blockchain. Participants will be able to receive immediate payment for use of their photos and receive a share of revenue from the platform, while technology provided by WENN Digital will actively hunt unauthorized use of photos uploaded by users.
Co-Founder of the KODAKOne platform, Jan Denecke said, “tZERO’s vision in being able to develop and provide a securities token platform that complies with U.S. federal securities laws is key to the success of the KODAKCoin. The KODAKCoin offering is centered around providing photographers security and peace of mind, and the tZERO platform allows us to provide that same security to our token holders as well.”
The KODKACoin security token offering will begin Jan 31, 2018 and will be open to accredited investors in the US, Canada and the UK.
To learn more about tZERO, visit tzero.com
To learn more about KODAKCoin and the KODAKOne platform, visit www.kodakcoin.com.
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