Blockchain technology brings new opportunities to ticketing and helps to streamline the experience for organizers, distributors and customers
Ticketing industry challenges
Even though the technologies are developing rapidly: e-tickets and digital verification are widely implemented; forgers are still trying to distribute fake tickets to various events.
People trying to attend major events often discover that they are left only with pricey options. Using automated systems, touts are able to be the first ones to purchase the tickets and resell them later inflating prices by hundreds of percent.
Areas of application
The immutable ledger of blockchain systems stores the information of tickets origin and makes transactions secure.The instant access to ticket information helps to completely eliminate forgeries.
Integration of blockchain systems allows you to track the entire process: from ticket release to its purchase, thereby making communication between the parties of this process more transparent.
Introduction of blockchain-based smart contracts enables organizers with a possibility to set up clear and automatically executable rules of pricing formation, exchange, refund, resale and profit distribution.
Get your own private blockchain solution to upgrade your insurance business
Use case: FIFA
The International Federation of Association Football has already initiated the application of a new ticketing blockchain-based platform, which allows to optimize tickets distribution flow.
Still thinking how to apply blockchain to ticketing industry?