Blockchain based ticketing
The event management and ticketing industry is a huge market, particularly the event management software market. However, despite the great potential of the event and ticketing industry, there are numerous problems and issues plaguing the current centralized event ticketing industry. The main issues include ticket counterfeiting, ticket scalpers, instant sell-outs and overpriced resale tickets on secondary markets EventChain, The good news is that the blockchain could fix the aforementioned issues. A blockchain is a distributed digital ledger that can be used to record transactions and other data across a decentralized peer-to-peer network made up of a cluster of computing devices.
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Blockchain-Based Ticketing EventChain Driving Further Engagement in Virtual Events
Skip to content. Solution Description. TicketME is a blockchain based electronic ticket e-ticket platform. It incorporates Distributed Ledger Technologies DLT and leverages existing ticketing systems and e-wallets operated by Stored Value Facility SVF licensees to transform Hong Kong's ticketing industry from physical tickets to more secured, smart and simple electronic tickets. Not only does it meet the Smart City Initiative by allowing greater convenience through innovation and technology, our solution also helps to tackle ticket scalping by Smart Contract implementation with a permanent tamper-proof ledger.
TicketME provides an option to the event organisers for managing ticket ownerships and transfers after initial sales, which is currently lacking, in terms of a more structured control system. Recreation and Culture. Consumer flow for public sales : Similar to how consumers currently buy their tickets online, they will be able to purchase tickets via URBTIX.
There is an additional option of e-ticket delivery. They will only need to input their HK mobile phone number or email address for the purchase. Once transaction is confirmed, they will receive a activation link. Their e-ticket is instantly stored in their e-wallet once they can successfully answer a knowledge-authentication question. If they need to transfer any e-tickets from the e-wallet, they simply one-time upgrade their e-wallet account by uploading additional identification documents such as HKID to the provider.
Once that is verified, they can transfer their e-tickets and collect the equivalent or lower value of their tickets from the recipient via their e-wallets. Their recipient will receive a message, and they can choose to accept or reject this transfer. If they choose to accept, the e-ticket will be sent to them and they can also choose to transfer this e-ticket to another recipient by uploading same identification documents if required.
To enter the concert, consumers simply execute their e-ticket and a dynamic QR code will be generated. This is scanned by a Wi-Fi connected scanner and verified at entrance. Each person will hold their own e-ticket. Once the ticket is exercised, QR code cannot be generated and it is not valid for entry again. Consumer flow for internal subscription : A specific web portal will be given to event sponsors to distribute to their audience. These consumers will be able to access these allocated tickets and have the option of e-ticket delivery.
The same flow applies to these ticket holders, whereby they will receive a activation link and once an e-wallet is downloaded, they can access and transfer their e-tickets via the e-wallet. Consumer benefits: The whole flow is highly secured. Authentication is required to open the activation link that grants consumer access to their e-tickets.
Additional identification is required to transfer tickets to others. E-tickets are exercised via a dynamic QR code that cannot be forged or duplicated and sent to others. Storage of data is minimized and encrypted with TicketME. The whole experience is very simple. Consumers can transfer e-tickets to family and friends without scheduling a time to meet up to exchange physical tickets. And with each person holding their own e-ticket, they can enter the concert at their own schedule, there is no need to wait for others who are holding their tickets outside the venue.
The whole process is very smart. Based on the needs of stakeholders and the public, various limitations can be set onto ticket transfer activities via Smart Contract. Consumer costs: There will be a small handling fee for choosing the e-ticket option. This fee is comparable to the registered mailing cost of physical tickets, but the benefits and conveniences of having a smart e-ticket will significantly outweigh the costs.
NFT Powerhouse, YellowHeart, Delivers Mobile NFT Ticketing & Wallet App
So an event ticketing service can be very lucrative. Now a few startups are trying to disrupt that space with tickets issued on blockchains. Three of those startups are mentioned in this article, all with European roots. The main selling point of blockchain-based ticketing platforms like those mentioned herein is that the tickets become tradable digital collectibles, or NFTs, unlocking additional benefits to both ticket buyers and event organizers. GUTS Tickets is a Dutch outfit and the company that actually developed the blockchain-based technology that underpins the platform. The company actually uses Stripe as a payment processor. Mintbase is based in Portugal, and offers a bumper-to-bumper blockchain-based ticketing platform.
Ticket Fraud: Is Blockchain the Future of Ticketing?
Receive residuals from the secondary market, eliminate fraud, know who is at your event and target buyers locally. The Blocktix platform is a direct link to an active community of people incentivized to engage with local events in their community. Blocktix provides event promoters with a ticket exchange that enables full control of primary and secondary market ticket distribution. For the first time, promoters are able to create rules for each ticket sold which include setting up passthrough percentages to the artists and promoters themselves. Thanks to smart ticket generation on the blockchain, Blocktix offers event promoters the ability to add conditional logic to each ticket it manages. All tickets in the network are linked together through Blocktix and uniquely attributed to prevent fraud and off-exchange distribution. Event promoters need access to the identity of attendees for improved security and emergency response communications.
Blockchain Ticketing
We may earn a commission if you buy something from any affiliate links on our site. Learn more. Katz is hoping to fill it with YellowHeart, a blockchain-based platform that gives event organisers of all sizes control not over how their tickets are sold, but resold. An avid guitar collector, he began his career at Arista, a Sony subsidiary, before moving into marketing at Jive, where he played a hand in launching the careers of Britney Spears and NSYNC.
Tag Archives: Blockchain
GUTS uses blockchain technology to issue honest tickets that put an end to disgraceful secondary market prices and ticket fraud. Learn more. Smart, digital tickets, right there in your pocket. GUTS not only enables the creation and validation of any type of tickets, it also facilitates re selling in a controlled way. Create tickets for several channels on the primary market, and let fans resell them on a controlled secondary market. We let tens of thousands of music fans enjoy paid live-streamed concerts from the comfort of their own homes.
I&T Solution
Blockchain and NFT ticketing may change the ticketing industry for good, yet the concepts of blockchains and NFTs are still obscure and can become politicized. This article aims to provide an easy-to-grasp guide to blockchain and NFT ticketing. A blockchain is a database. In regular databases, there is one computer that holds a master copy of the data. In a blockchain, the database is shared across multiple computers interconnected in a network. Thus, various computers hold identical copies of data in a distributed way.
Skip to content. Solution Description. TicketME is a blockchain based electronic ticket e-ticket platform.
Fraud and extortionate secondary market resale ticket prices are the two main causes why Blockchain Smart Ticketing Solutions are introduced. Smart Contract Tickets using Blockchain technology has revolutionized the industry by enhancing the security of ticket sales while effectively regulating the marketplace. Why do ticketing companies need it? With Blockchain, you are able to record every transaction while keeping an eye on your buyers and resellers. With this, you can manage events and ticketing while dramatically reducing your costs.
Ticketmaster will soon have another way to fight bogus ticket sales: by hopping on one of the biggest tech bandwagons of It's acquiring Upgraded, a company that melds blockchain's distributed trust with encrypted barcodes to minimize the fraud you sometimes see with paper-based or PDF tickets. You'll have a clearer sense of when a concert pass is legitimate, while event holders will have more of a grip on where their tickets are going. Ticketmaster told Engadget it didn't have a definitive time frame for integrating Upgraded's solution. The buyout doesn't come at a great time for Ticketmaster. It's still grappling with accusations of recruiting pro scalpers for ticket sales -- the company has explicitly denied any such strategy, but it's bound to leave customers wondering if fraud prevention should take a backseat to reestablishing trust. And while the blockchain technology should be useful on some level, it's not yet certain just how public-facing it is.
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