Thomas Simms reports:
The company says the technology enables businesses and governments to better manage sensitive documents and keep them secure — automating workflows and archiving to ensure records can be accessed in real time.
According to Kodak, this system can help organizations achieve cost savings of up to 40% by improving productivity and preventing the loss of information.
Other products showcased during the event included Scan Cloud, which enables users to process data wherever they are.
“Smart Cities” were also discussed at the conference — a concept where cutting-edge technology is used to improve infrastructure and services in urban areas.
The company has used blockchain to establish databases before, and recently forged a partnership with RYDE Holding to build an image rights platform to protect copyright and help photographers monetize their works. Known as KodakONE, a limited beta test reportedly generated more than $1 million in licensing claims.
Back in February 2018, Kodak was forced to delay the launch of its KodakCOIN cryptocurrency in order to evaluate the status of potential investors — a day before a planned initial coin offering was due to start.
Last month, the Polish-British fintech firm Billon secured a $2.1 million grant from the European Commission to further the development of its own blockchain document management system.
Helen Partz reports:
Tomorrow, the CBOB will sign an official agreement with transaction provider NZIA.io in order to build and implement “Project Sand Dollar,” the first digital currency in the Bahamas, the report notes.
The “Project Sand Dollar” initiative will be an “integrated, affordable electronic payment system for all businesses and residents,” the central bank said. The project will comply with local financial regulations, and aims to provide equal access to digital payments for the residents of the island country, reducing cash transactions and service delivery costs, as previously reported.
While the CBOB has still not announced the first selected islands to pilot the project, bank governor John Rolle reportedly claimed that the institution expects to fully adopt the project for the Family Islands by 2020.
The CBOB first revealed plans to introduce its own government-backed digital currency back in June 2018.
Earlier today, the president of Germany’s central bank, Deutsche Bundesbank, warned central banks about the potential risks of introducing digital currencies. The official said that the adoption of digital money could potentially destabilize the financial system during periods of crisis, as well as could “fundamentally change the business model of banks” even in a good economic environment.
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