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   188

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. 

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SONM to Hold AMA for Community

SONM is rolling out the Questions and Answers session for the community once again on February 20, 2018, at 16:00 UTC
20 February 2018   161

SONM is the universal fog supercomputer powered by the Ethereum blockchain, designed for general-purpose computing, from mobile app hosting to video rendering to DNA analysis. Miners all over the world can leverage their idle computer power to become part of the SONM network.

SONM has announced in its official twitter account that it is rolling out the Questions and Answers session for the community once again on February 20, 2018, at 16:00 UTC.

SONM AMA announcementSONM AMA Announcement

The users can ask SONM team any questions using the hashtag #ASKSONM or on Sli.Do using the event code Z111. The team members will give answers to all users' questions on the official Youtube channel of SONM.

Currently, SONM is traded at such exchanges as Binance, Tidex, Liqui, KuCoin, OKEx, HitBTC, COSS, Yobit and EtherDelta.

At the moment of press, these are main market parameters of SONM:

Average price: $0,219646
Market cap: $78 984 702
24h volume: $848 344