After announcing that it would create its on blockchain platform and digital currency for photography, Kodak's stock has now nearly quadrupled, moving from $3.10 to $11.50 as of this writing.
Eastman Kodak is joining the cryptocraze. The 130-year-old company said Tuesday it has used blockchain, the technology underpinning popular digital currencies such as bitcoin, to create a new platform for digital photography with its own digital currency, called KodakCoin. The site, called KodakOne is "a new economy" for photographers to license their work and receive payments, the company said. Shares of Kodak more than doubled Tuesday, closing at $6.80. They were also trading 5.8 percent higher in the after-market.