Digital Marketing

Blockchain Ticketing in Tracking and Limiting Fraud in the Secondary Ticket Market

Can we talk about how the top provider in the secondary ticket market is driving growth in the global secondary ticket market? Probably it is due to the concept that is used which has a huge scope.

Fan-to-fan ticketing. Suppose you can’t get a ticket for your favorite event. You have heard your friend talking about several secondary ticketing platforms where you can buy tickets for events.

Suppose you are someone who has purchased the ticket but caught a cold! Bad luck! You can sell your ticket to those secondary ticket platforms. In return, you get a fair share and some other fan gets your ticket. Two for two!

It is being forecasted that North America is expected to lead in the global market of secondary tickets. This is reasoned since most of the sports events like Commonwealth games and Olympics. Frequent sports events are organized providing a way for these top providers in the secondary ticket markets to grow.

Similarly, the Asia Pacific region is expected to grow in the online ticket market due to upscaling of movie production and digitalization.

Statistics have shown people preferring to buy tickets online rather than standing in a queue. Makes sense!

How Blockchain is Helping to Limit Frauds and Scalping?

As one of the contributors to the secondary ticket market growth, blockchain use has limited ticket scalping and fraudulent ticket sellers. The ticket can be purchased by one and can be sold to the other one. This tracking of individuals and chasing their paths can avoid many fraud activities and serious dangers. They store information about a particular user in the blockchain life cycle which identifies BOTs, ticket scalpers, fake users, etc.

Blockchain use can identify frauds, ticket resellers, BOTS thus limiting ticket scalping

In the event of business transactions, we already know how blockchain has secured it. Every ticket that is sold in the secondary market and every transaction which is made against it is recorded.

People and promoters who are involved in the event organizing, due to these black market activities, revenues and benefits are taken away from them.

Let us take a look at how blockchain has differentiated the whole buying process and ticket issuing to a client.

When You Visit a Secondary Ticket Platform

  • Register yourself as a user
  • Payment with credit cards and provide other payment-related information on your e-wallet. You have to register an e-wallet that will connect your phone to an e-wallet blockchain.
  • Receive a personal one-time secure key on your phone in that e-wallet.
  • Ticket keys now can only be sold to an e-wallet containing the key in a regulated manner
  • At the event, rather than showing a barcode, you can show your e-wallet and the key.

The top providers in the secondary ticket market are ensuring security and confidentiality at all costs. So that the value added by the event managers does not go in vain.

Related Articles

Leave a Reply

Back to top button