Big Corporations Are Clicking Into the Blockchain Technologies

Blockchain Technologies

The majority of pundits strongly believe that blockchain technology could turn out to be a completely fresh infrastructural layer of the internet to put back traditional payment systems, thanks to the innovative design of the technology, which makes hard to commit fraud. Several big companies are following these changes in order to provide secure, safe and fast transactions.

Walt Disney (NYSE:DIS) is among those companies that have been standing at the front place to accept innovative changes in technologies. Disney was the pioneer in using technological changes from animatronics to digital animation, while the company has also been planning to use blockchain technology to improve their operations.

In 2014, Disney’s started creating Dragonchain, which is a blockchain protocol to offer higher data privacy compared to other blockchain technologies like Ethereum. Actually, the company has designed Dragonchain with an aim to secure asset management system to be utilized in internal operations.

“Disney was very forward thinking and wanted to know how people use different tech,” Roets said. “We started building things. It took two years to build out the platform, give or take.”

Similar to other blockchain technologies, Dragonchain is also a digital ledger. This ledger also uses complex algorithms to record transactions that couldn’t be altered.

On the other hand, Eastman Kodak (NYSE:KODK) has also announced to launch a new blockchain product that has the potential to pay photographers for unlicensed images. The Kodak’s new project looks like a big attempt to employ blockchain technology in order to solve long problems that are impacting its efficiencies and photographers.

The CEO said, “KodakCoin is all about paying photographers fairly and giving them an opportunity to get in on the ground floor of a new economy tailored for them, with secure asset rights management built right in.”

Kodak’s share price soared more than 117% in a single trading session after the announcement of new blockchain technology. Its stock is currently trading around $6.80 per share, up $3.70 per share in a single session. The company expects to hold its initial coin offering by the end of this month for all accredited investors from U.K., U.S., Canada, and other few countries.

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