Officially, KashMiner is dead. For many people thinking, this is excellent news, as it never made sense in the first place.
KashMiner was supposed to be a machine which people could “hire”- after they pay an up-front fee of about $3,500. Then, it would quietly sit their mining Bitcoin. Apparently, the whole scheme was so well crafted so that each KashMiner would net you $375 every month in passive income over two years period. Unluckily, things didn’t pan out this way.
KashMiner is a licensing deal gone wrong
It seems like the KashMiner is really only a licensing deal gone wrong – but one which appears shady from the very first time.
Spotlite, which is a US company whose extensive history with Kodak amounts to branding some LED lights, was in charge of the KashMiner machine. The CEO of the company, named Halston Mikail claimed that 80 devices were installed at the Kodak headquarters because they had cheap electricity.
Later on, that claim was denied by an official representative of the company.
KashMiner and KodakCoin in the media
However, despite the flashy attendance to CES 2018, as well as the widespread media coverage, the machines never amounted to anything. The ambivalence of Kodak to its existence is rather peculiar though because they decided to reveal their own cryptocurrency at the precisely same show.
Inevitably, the KashMiner and KodakCoin were conflated in the media. One more thing, really worth mentioning is that the KashMiner was not to be integrated with KodakCoin, but it mined Bitcoin. It was never clarified what kind of connection the two had, even while its stock prices rose about 120% as the news spread.
KodakCoin- the native cryptocurrency KodakOne of KodakOne.
KodakCoin is also about to be the native cryptocurrency KodakOne, which is a digital platform which is designed to help photographers monetize their work. While such platforms are nothing unfamiliar to the blockchain, the system of Kodak is apparently using associated KodakOne software to track down images which were used without permission. Photographers would also be paid in KodakCoin through the platform.
However, it is also a licensing deal. The Wenn Digital of London licensed the Eastman Kodak brand, and it has pushed forward having some plans to launch KodakCoin – but with its connections to the KodakOne platform, at least there exists a proof that Kodak knows about this one.
The last time it was really heard of it was in May, at the time when it was stuck in regulatory limbo awaiting decisions from the SEC: desperate to launch their ICO, but also forced to keep raising money through pre-sales.