Blockchain helps to avoid fraudulent sale of tickets to events

Concerts, sporting events and other shows bring together thousands of people interested in enjoying a special moment. The illegal sale of tickets and other illicit activities in this industry could be eliminated with the use of blockchain technology.

The immutability of the recorded data is one of the main features and guarantees offered by this technology, since it prevents the illegal sale of tickets in the entertainment world.

Undoubtedly, the resale of tickets at sporting events is one of the first causes of conflicts and demands. It is estimated that this activity currently moves some 12,000 million dollars. Soccer clubs lose millions of dollars every season for this reason.

As a measure to protect themselves from these crimes, the Spanish company Tracer created a smart ticket based on blockchain, through which event organizers can control customer data, establish sales channels, offer custom discounts or block resale.

This means that if a person tries to sell the ticket again they could not break the blockchain chain, since the system would cancel the operation. In this way, Tracer establishes a single, immutable record, which is traceable and totally legal. This would be a serious blow to the “brokers” dedicated to reselling tickets and intermediaries.

On the smart ticket, it has assigned a dynamic QR code that changes every 20 seconds, so it is impossible to copy. Thus, each time the ticket has a new owner, the transactions are registered in the database. The instrument was successfully tested last June in Spain.

M.Pino

Source: El Mundo

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