Blockchain Technology in Ticketing
Secure and Transparent Ticketing is Achievable In Different Ways
The ticketing industry is always seeking new and innovative ways to grow revenue and increase customer satisfaction. While blockchain technology has the potential to resolve many pressing issues currently plaguing the event industry, there are other solutions equally capable of making transparent ticketing a reality.
Digital ticketing offers a faster way to create traceable and transferable tickets. It also enhances security, ensures ticket validity and provides more control over the secondary market.
How Digital Improves Ticketing
Ticketing protocol today is mainly seen as the structure of ticketing records. With a digital system, you can exchange customers’ data and track tickets beyond that of a given provider, giving you a critical ability to manage the marketplace.
With digital tickets, knowledge truly is power. In providing the whole history of ticket transactions, event managers can identify ticket buyers, view all previous transactions, and see if a ticket has been resold and at what price. This reduces fraud and operational costs.
Governments worldwide are scrutinizing the secondary ticket market. Digital tickets are the answer. Issuing digital tickets regulates the ticket reselling process, sets the proper price for tickets, and places limits for resale. It also helps tighten control of scalpers.
Digital ticketing technology gives almost instantaneous identity verification to help ensure you know who your real attendees are. Which means event organizers will know exactly who’s attending, while collecting invaluable data analytics for future marketing purposes.
With digital tickets—blockchain or otherwise—you’ll know when tickets were sold, if and to whom they were resold to, at what price, etc. You can verify and track a ticket’s origin, giving you a basis for dispute resolution and compliance.
Historically, the secondary market consisted of street traders who bought tickets for cheap outside a venue and resold them at a higher price to last-minute ticket buyers. Today, online ticket selling platforms dominate the market.
We’ve delivered an extensive range of event ticketing solutions
Is There Value in Adding Blockchain?
While blockchain is an exciting technology, it’s not a panacea for all ailments. If you are an existing ticketing provider, there are current technologies that can enable you to capture the security and transparency promised by blockchain.
If you’re just starting out, using blockchain to build a ticketing system from scratch is a great use case. Interested in exploring how to enhance an existing system, or develop something new? Let’s talk!
Are Blockchain/NFTs The Only Way to Ensure Traceable and Secure Tickets?
Blockchain in ticketing has many possibilities, but is it the only way to secure tickets?
While blockchain technology has the potential to resolve many ever-present threats plaguing the event industry, you are not stuck with just one choice. There are many current technologies that make secure, transparent ticketing achievable.
You can attain many of the aims promised by blockchain and NFTs by modernizing the legacy ticketing flow to migrate ticket identity from static QR codes to a secured, digital-only representation, such as dynamic QR codes or dynamic NFC tokens. Offering your patrons a mobile ticketing app is one way of achieving these ends.
Softjourn’s ticketing experts, Lyubomyr Nykyforuk, Emmy Gengler, and Jeffrey M. Kreuser weigh the pros and cons of blockchain to see whether it can really solve the trickiest ticketing troubles, from fake tickets and reselling to fans lacking day-of event access.
Why Choose Softjourn?
- We understand how blockchain can augment media and entertainment services.
- We research blockchain technology in-house at our R&D Centers.
- We continue to develop blockchain solutions in the ticketing and banking industries.
- We are experts in five blockchain platforms and can help our clients understand when to use blockchain and what technologies work best for their organization.
- We are proactively collaborative and keep our clients actively involved and constantly updated at every stage of a project.
- We have built a reputation as a trusted partner for all of our clients.
- You are not sure what is the best blockchain or other technology to use and how to get started.
- You find it difficult to find a company that understands the nuances of ticketing.
- Besides blockchain, you want to know if there are other new technologies to consider.
- You want new technology or upgrades, but don’t have the time or expertise to do it in-house.
- You just acquired another ticketing platform and cannot get it up and running.
- You need to always be ahead of the curve to meet your client's “cool factor”.
- You wonder if converting traditional paper or electronic tickets into smart or NFT tickets makes sense for your company.
- You want to help your clients keep their staff safe as events start back up.
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