The ticketing sector is booming. Buying tickets online has never been as popular as in recent years. To simplify and secure these transactions as much as possible, it is possible to use blockchain technology which, on paper, seems to offer many advantages in the field of ticketing, including creating a Verified Event ticket resale platform for the resale of tickets.
Ticketing, a Booming Sector
The ideal circumstances for ticket sales must exist for them to be successful. Online ticketing has gained a lot of popularity recently, especially due to its convenience. With the rise of digital platforms, managing ticket sales and resales has become more efficient. A Ticket resale verification system ensures that the tickets sold on these platforms are legitimate and secure, adding an extra layer of trust for buyers. Blockchain integration helps eliminate errors during transactions, ensuring every step is correctly recorded.
The online ticketing business generated nearly several billion dollars in revenue, and several studies agree that this amount is expected to triple in the coming years. Part of this increase would be due to the post-COVID recovery. The second part would reflect an underlying trend in the growth of the online ticketing market worldwide. Finally, a third part would concern the development of the events sector in Asia and Africa, which will require a solid Verified ticket resales platform to handle the large volume of transactions. Blockchain technology plays a pivotal role in managing these high transaction volumes securely.
Currently, to be able to buy a ticket for an event, there are three possibilities:
- Buy a physical ticket;
- Buy a ticket online and then print it yourself;
- Buy a paperless ticket.
In the case of tickets purchased online and dematerialized tickets, many issues arise (security, duration of the purchasing process, customer experience, etc.). A Ticket resale verification system powered by blockchain aims to put an end to these various issues, ensuring smooth and secure transactions. This is, moreover, our primary ambition to revolutionize the ticketing market. Blockchain ensures that all processes are recorded transparently, enhancing trust.
If the internet ticketing market has performed so successfully in recent years, it is because it is far more convenient to purchase an event ticket from your smartphone without having to relocate. Furthermore, the dematerialized ticket eliminates the necessity for printing. Generally, the dematerialized ticket takes the form of a QR Code to scan to attend the event in question, made possible through a Verified Event ticket resale platform that securely tracks ticket ownership. This system makes accessing events hassle-free and seamless for attendees.
Optimized Customer Satisfaction with Blockchain
You have to deal with a platform or a person to buy event tickets online. In certain situations, an intermediary’s involvement is necessary to guarantee the transaction’s legitimacy. As a result, the buying procedure is prolonged. Thanks to blockchain technology, the intermediary is no longer useful since it is the blockchain that takes on this role. The latter carries out the necessary checks itself and makes the purchasing process faster. When purchases are made easily and quickly, customer satisfaction is increased, which is not insignificant. A Ticket resale verification system guarantees that the tickets sold on the platform are authentic, further enhancing user confidence. Blockchain streamlines the process, eliminating delays and improving the overall user experience.
Secure Shopping with Blockchain Technology
Where blockchain technology excels is in securing transactions. In the ticketing sector, fraud is very common. Many people sell fake tickets or tickets at particularly high prices. To avoid fraud, this technology offers the possibility of issuing nominative tickets, which means that the tickets are linked to the person who bought them. Information regarding transactions is saved on the blockchain and may thus be accessed at any moment. As a result, counterfeit tickets are impossible, and transactions are significantly safer for both the buyer and the vendor. A Verified ticket resale platform ensures that resold tickets are verified, preventing any fraudulent activity. This innovative security feature reduces risks for both parties, fostering a trustworthy ticketing environment.
Will blockchain really revolutionize the world of ticketing?
For now, it is difficult to say whether blockchain will revolutionize the world of ticketing or not. That said, it will certainly make purchasing tickets easier, simpler, and more secure. This technology has not yet been adopted by everyone, but there is a good chance that it will integrate very quickly into the ticketing market, especially with the rise of Verified ticket resale platforms that leverage blockchain for secure transactions.
