THELOGICALINDIAN - Secondary ticketing in the UK is a billiondollar botheration one that Aventus hopes to break with blockchain technology
Whether it’s your admired football bout or your music idol’s concert, front-row tickets are apparently what you’re after. However, if they appear to be awash out by the time you can allow them, you ability be tempted to acquirement these tickets from arrant accessory parties.
Prepare to be met with affected tickets and boundless prices. According to The Guardian, accessory tickets for shows for big artists, such as Adele, can back up to $12,000. Preventing these alleged admission touts seems to be a decades-old issue, but article that blockchain technology could solve.
Annika Monari and Alan Vey, who are the founders of Aventus, will accept the befalling to analysis this approach at the accessible FIFA World Cup in Russia. Their blockchain-based affairs will be acclimated for added than 10,000 tickets to fan contest in the US and Europe.
By application blockchain technology, the annal for anniversary admission will be abiding and accordingly adequate adjoin counterfeiting. Essentially, anniversary admission will be affiliated to its owner, which will action fraud.
By accomplishing this, Monari and Vey, who both accept degrees in Artificial Intelligence and Particle Physics, accept said that Aventus will “virtually annihilate ticketing artifice and the affliction of able touting”.
The Aventus founders discussed their action at alive appear a band-aid for this problem:
The platform’s ICO in September aftermost year awash out in aloof seven minutes, adopting a absolute of aloof over $35 million.
Professor Mike Waterson from Warwick University acted as a abstruse adviser to Monari and Vey. He had this to say:
Waterson additionally conducted a government address into the accessory admission industry, including admission sales for Premier League games. This is additionally an affair that Aventus hopes to advice with. The belvedere will be alive with addition blockchain-based platform, Blocside, for the FIFA World Cup initiative, but achievement to aggrandize their offerings to Premier League football clubs soon.
Ticket artifice is absolutely a advantageous industry in the UK, with an anniversary amount of about $1.3 billion. Bernie Dillon, an ball industry expert, discussed how Aventus could accomplish a difference:
Do you anticipate that blockchain technology is the acknowledgment to the ticketing industry’s better problem? Let us apperceive in the comments below!
Images address of Wikimedia Commons, Shutterstock
