BlockChain News

KODAK Announces Blockchain-Based Document Management System

Blockchain is well-known for its ability to automate management systems and make them more secure, cost-effective, and efficient. Kodak Services for Business, during one of its conferences, introduced its blockchain-based document management platform.

The international technology company has had quite an interesting record in the blockchain sphere. Its interest in blockchain technology was first uncovered with the company announcing its native KODAKCoin in January last year.

Leveraging the potential of blockchain technology even further, Kodak’s document management system is promised to reduce the cost of management more than 40 percent by reducing data losses and increasing efficiency.

Safe and Secure

In such a technologically advanced world, it is important to now move on from hardcopies to digitized systems that are more efficient, secure, and easily accessible from anywhere. Similar to how blockchain is being used to disrupt the supply chain management system, it was crucial to take an initiative to improve document management as well.

Kodak, through its document management system, is targeting both private and government sector businesses. It aims to help entities automate workflows and provide real-time access to documents to all parties involved as well as keeping everything highly safe and secure.

Kodak Coin

Kodak’s Past Record

Kodak surprised most of the crypto community when it announced its native cryptocurrency KODAKCoin along with the plan to do an ICO. The company stated that it was working on the KodakONE platform that would help users file for image and photograph copyrights using the native token. The beta version of the platform was reported to have generated over $1 million in licensing claims.

Kodak’s ICO announcement, however, wasn’t very well received by all. In addition to controversy involving KodakONE contractors, many stated that it was just a smart gimmick to get funds into the company’s bank accounts. Both the excitement and the cynicism petered after the company withdrew from its ICO a day before its initiation was due.

It wasn’t until the latest announcement of the document management system that people realized that KodakONE had actually been functioning behind the veil.

Do you think KodakONE will succeed at what they started? And what about Kodak’s document management system? Let us know your thoughts in the comments below.

Images courtesy of Shutterstock, Twitter.

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