So, you’ve heard that your favorite band is coming to a city near you.
You search for the event online, find a seller, buy the ticket, and an e-ticket is sent to your inbox. Thinking ahead, you purchased two e-tickets so that you can bring a friend too.
We’re all set to go to our event. As the day nears, we naturally get excited and do our typical social posts. We let all of our friends know how excited we are. We rock up to the venue and DENIED. The ticket turns out to be a fake. You try explaining how legit your ticket is but you are simply denied entry.
This situation is:
- Embarrassing as.
- Devastating – you’ve been looking forward to this show FOREVER.
- Enraging – you got totally scammed.
- All of the above – in no particular order of severity.
It Happens to Everyone
This is a very common scenario in the event ticketing industry. Event organizers have been racking their brains. How can we work around counterfeit tickets? Why aren’t ticketing platforms foolproof? Why do they fail so often even after boasting of “high security”? How can this be solved? Can this be solved at all?
Here at EventChain, SmartTickets™ are e-tickets generated through Smart Contracts. This process uses Ethereum and other Blockchains as its foundation. Think of it as a regular ol’ e-ticket with the additional benefit of it being 100% foolproof, authentic and transparent.
Common Centralized Ticketing
Unfortunately, most e-ticketing infrastructures have a single point of failure. In the case of heavy sales traffic, these infrastructures often cause the servers to overload and eventually crash. A decentralized blockchain solves this problem seamlessly. For example, when we use a peer-to-peer system, there can never be a single point of failure. Think of it as a vast network of computers where all computers can talk to each other.
In the scenario of heavy sales traffic, the task of processing each ticket would be distributed across a decentralized network, thus preventing an overload crash.
Back to the SmartTickets™
Besides the fundamental benefits that a blockchain provides, here are some other benefits to using SmartTickets™:
- Transparency: One of the biggest propositions when it comes to transactions on the blockchain is the transparency of agreements. Deliverables are maintained between both parties on either end. This puts a “safety stamp” on your event ticketing transactions.
- Verified aka No Counterfeits: Intelligent event ticketing will generate a finite amount of SmartTickets, each with its own unique identifier stored on the smart contract. This makes it impossible to sell a single ticket multiple times. A SmartTicket™ also represents a proof-of-ownership which can be verified over the blockchain network.
- Safety: Since there is a centralized system (single point of failure) on common ticketing platforms, they are more vulnerable to malicious attacks. Blockchain ticketing is built on a decentralized network and there is zero threat of malicious attack. Multiple computers in the network would need to give the green light, in order for your transaction to be approved.
- Dynamic QR Generation: Making SmartTickets even ‘smarter’ is the QR code. Generated on the attendee’s screen, the QR code is updated them regularly, to prevent fake ticket reselling.
Even if you do decide to sell your SmartTicket™ to someone else, it can happen seamlessly. Authentication of all original purchasing information happens directly within in Blockchain network.