Kerrisdale Capital Consider Kodak's Blockchain as Sham

According to the hedge fund research, Kodak "staring at the possibility of default and a debt restructuring in the next 12-18 months"
08 February 2018   865

A well-known hedge fund does not believe in Kodak's latest initiative related to the blockchain. This is reported by Coindesk.

In his study, the Kerrisdale Capital hedge fund claims that Kodak's blockchain project is not real, and even calls it "last-ditch stock promotion gambit for a company hurtling towards bankruptcy." The Kerrisdale fund holds a short position on Kodak shares and is also known for the fact that its applications can affect quotes.

On January 9, the company Kodak announced that it will hold ICO to finance its crypto currency project, which will help photographers solve their problems with the rights to their works, after which the company's shares rose by 37%.

However, the Kerrisdale Foundation, based on its research, argues that Kodak will not be able to compete with other blockchain start-ups, as "in the next 12-18 months the company can expect a default and debt restructuring."

In this regard, the hedge fund notes that Kodak lacks the technological capacity and funding to implement its technology KodakCoin, and therefore - to make transactions and store images with the help of a blockbuster.

In addition, the Kerrisdale study evaluates individual Kodak plans to enter the mining market - the hedge fund also doubts that this will help Kodak to repel the investment.

Kodak's cryptocurrency ploy hits all the major buzzwords – blockchain, smart contracts, distributed ledger, ICO, etc. But look through the PR spin, examine the true merits of using blockchain for the proposed service, and it's obvious the project is poorly thought out and will never work as promoted.

Kerrisdale Foundation Report

As of press time, Kodak has not yet responded with comments. 

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Tezos to Launch Mainnet

On the threshold of the launch of the main network Tezos token demonstrated impressive growth
18 September 2018   148

After a sufficiently long period of preparation and the need to resolve legal issues, developers of the Tezos blockchain protocol announced the launch of the main project's network.

Tezos is positioned as a network protocol for secure and time-ready smart contract systems. According to the founders of the project, the platform focuses on such fundamental aspects as transparency, security and governance through consensus.

It is noteworthy that the launch of a viable version of the software was made at the end of June. After that, in the listings of several exchanges, tokens of the Tezos project appeared under the ticker XTZ.

However, only last weekend the developers announced the completion of the experimental mode and leave the beta version.

In the summer of last year, Tezos conducted a crowdsfunding campaign, collecting a record $ 230 million at that time. Soon the project, however, was under a storm of collective lawsuits, which also caused a long delay in launching the platform.

On the threshold of the launch of the main network Tezos token demonstrated impressive growth - over the past day the price of XTZ has increased by more than 5%, over a one-week period this figure was more than 32%. At the time of publication, the average price of XTZ, according to CoinMarketCap, was $ 1.63 (0.00025835 BTC).