Blockchain in Ticketing | Softjourn, Inc.

What Can Blockchain Do For Ticketing?

Blockchain technology offers the capability to resolve the ever-present threat of fraud and extortion in the ticketing industry. What stands between ticketing platforms and adoption is expertise — by partnering with a technology provider like Softjourn, you understand where blockchain technology fits into your business.

From controlling every ticket sold for any event, identifying resellers, and, since blockchain records every transaction, viewing every buyer and reseller, blockchain offers ticketing platforms numerous benefits. All while dramatically reducing costs.

Some of the Tools and Technologies

ETHEREUM

HYPERLEDGER BURROW

HYPERLEDGER FABRIC

OPEN TRANSACTIONS

QUORUM

How Blockchain Improves Ticketing

Standardizing Ticketing Protocol

Ticketing protocol today is mainly seen as the structure of ticketing records. It’s impossible to exchange customers’ data or track tickets beyond that of a given ticket provider. Blockchain tickets standardize protocol, giving you a critical ability to manage the marketplace.

Detailed Records

With ticket blockchain, 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.

Secondary Market Regulation

Governments worldwide are scrutinizing the secondary ticket market. Blockchain tickets are the answer. Issuing tickets on the blockchain regulates the ticket reselling process, sets the proper price for tickets, and places limits for resale. It also helps tighten control of scalpers.

Know Your Real Customer

Blockchain 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.

Controlling Ticket Flow

Blockchain in event ticketing provides an unalterable chain of transactions that control ticket flow. You’ll know when it was sold, if and to whom it was resold, at what price, etc. So you can verify and track a ticket’s origin, giving you a basis for dispute resolution and compliance.

Fraud Prevention

Historically, the secondary market consisted of street traders who bought tickets cheap outside a venue and resold them at a higher price to last-minute ticket buyers. Today, online ticket seller platforms dominate the market. By securing event tickets on a blockchain, you’ll have total control.

Smart Contracts = Smart Tickets

With us, smart contracts are programmable money. We add logic to transactions by creating a contract that manages revenues collected. Ticketing blockchain offers similar control. Actual tickets are blockchain tokens residing in a buyer’s electronic wallet. They’re traded centrally, but on the blockchain, not the market. We use smart contracts to manage ticket types and then explore how programmability can create new types and experiences.

Why Choose Softjourn?

Here are some of the reasons our clients work with us:

We Are Subject Matter Experts

We understand how blockchain can augment media and entertainment services. We research this technology in-house in our R&D Centers, and have developed blockchain solutions in the ticketing and banking industries. These solutions allow for unparalleled tracking and management of services, allowing clients to more easily oversee their assets and dramatically reduce costs. We are experts in five blockchain platforms, and can help our clients understand why they should use blockchain and what works best for their organization.

We’re Always Thinking Ahead

To compete, our clients continually need to provide new and better services. Since we have our own R&D Centers, Softjourn is uniquely positioned to help. We’re constantly looking for relevant ways to apply new technology that brings our clients growing needs to life.

We Constantly Communicate

We are proactively collaborative. It’s why a common compliment we hear is how we make sure our clients are actively involved and constantly updated at every stage of a project. We become a trusted partner in helping clients thrive, developing tailored solutions and services that deliver measurable results, no matter the industry.

Typical challenges we help our clients solve:

You want new technology or upgrades, but don’t have the time or expertise to handle.
You need to always be on top of things to meet your clients’ “cool factor” expectations..
You find it difficult to discover a company that knows the nuances of ticketing and has the technological expertise to give you a competitive edge.
You wonder if it makes sense to convert traditional paper or electronic tickets into smart tickets..
You’re not sure what is the best blockchain technology to use and how to get started.
Besides blockchain, you want to know about other new technologies to consider..

Blockchain forces digital ticketing, but there is nothing stopping the use of conventional technologies to accomplish many of the same things. One of the items mentioned for blockchain is data integrity, trust, and smart contracts. But a conventional ticketing provider can provide all the same things without blockchain - all we need to do is trust provider the same with the digital asset as we trust them now when using a paper ticket.

Jeff Kreuser
CTO at Softjourn, Inc. for SportBusiness

Whether companies will succeed in deploying blockchain technology to create products and services, consumers will trust and adopt remains to be seen. The demand for blockchain-based services is on the rise, and the technology is maturing and advancing at a rapid pace. With more money being poured into blockchain-based startups, consumers should not be surprised to see distributed services and products becoming more mainstream in the near future.

Lyubomyr Nykyforuk
PM & Ticketing Tech Expert at Softjourn, Inc.

Some of Softjourn's Ticketing Clients

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