Why we really need EventChain’s SMART Tickets?
Organizing an event at global level for thousands of participants and even millions of spectators is not really a simple thing. The major issue of holding an event of such a big scale is ticketing problems for participants, organizers and distributors. With EventChain, look no further! All that can now be easily overcome by using EventChain platform which will make event ticketing sale, distribution and tracking a baby’s play for its users!
EventChain will provide a simple user interface for event managers to manage and execute SmartTicket sales globally for small to large events supported by the underlying blockchain technology and EVC Tokens, empowering a true peer-to-peer network for buying and selling tickets to events. EventChain has the opportunity of becoming the first real world blockchain application that is widely adopted by the general public without any need to understand the underlying distributed technology.
EventChain will develop a decentralized modular SmartTicketing network upheld by a peer-to peer platform. Centralized event ticketing infrastructure is vulnerable to malicious attacks and single points of failure. By selling SmartTickets and processing transactions on the decentralized EventChain token network built on the Ethereum blockchain, everything is secured by 256-bit cryptography that will protect from fraud and prevent malicious attacks against the network.
With all these being said, but why we really need EventChain’s SMART Tickets?
EventChain will provide solutions for the following issues in the event ticketing industry:
- Counterfeit tickets are created and sold for events.
- Tickets are often hard to resell with undeniable proof that the ticket is an authentic original ticket.
- Allegations of event ticket vendors and resellers scalping their own tickets and then reselling them for as much as a 200% mark-up on their own subsidiary platforms are not uncommon.
- Ticket scalpers deceive purchasers into buying re-sale VIP tickets at outrageous prices, but do not qualify them for VIP features because the tickets are VIP ineligible under resale terms.
- Large volumes of ticket purchasers can simultaneously flood an event ticket sales website when tickets are released and often overload and crash a ticket system.
- Event ticket services have been affected by DDoS attacks against their Domain Name Servers, crashing their websites at the time of ticket purchasing.
- Pre-sale ticket offerings are often not transparent.
- Event ticket services opt-in ticket purchasers into unnecessary subscriptions to media and marketing material in a deceptive manner during the ticket purchasing process.
You might be wondering, all the issues and problems are listed but so far no solution to overcome them! Good things are kept for last my friends! EventChain will overcome all the ticketing issues identified with traditional way of ticketing as follows:
- A finite amount of immutable SmartTickets will be available for each event and are tied to an event’s smart contract
- EventChain can seamlessly transmit tickets through the blockchain to anyone for gifting or reselling.
- SmartTickets are fully programmable, enabling smart contract code that can peg tickets at a permanent price.
- To prevent massive ticket purchases from scalpers, event ticket distribution options can be tailored with any custom range on the amount of tickets available to single users or groups, and optional constraints that allow for alternative distribution methods.
- EventChain will have an integrated ticket resale reputation system, allowing event ticket vendors and resellers to build and grow their reputation as they sell SmartTickets.
- Using the Ethereum blockchain as a foundation brings a higher level of transaction accountability, scalability and fungibility to the event ticketing industry than any existing centralized ticketing architecture available.
- Where EventChain will not lend themselves to deceptive tactics, SmartTickets underlying smart contract code is fully programmable and SmartTickets could be created in a fully transparent manner to incorporate add-ons like food and drink, parking, 50/50 draws, merchandise credit and any combination of products or services.
- Because EventChain’s transaction framework is decentralized, the purchasing of tickets will not be limited to EventChain’s website and mobile applications.
- The EventChain distributed platform will pull information from the Ethereum blockchain and verify it through validating nodes distributed globally. Distribution protects the network by giving incentive to positive behavior and eliminating single points of attack.
With all being said you might now know the answer! Yes, We Need EventChain and SMART tickets. EventChain envisions an ideal world where everyone is able to attend events through the use of a more honest, transparent and accountable event ticketing system that provides additional benefits to event hosts and fans. We have long searched for a convenient method of getting a ticket for anything, even minutes before the start of an event, with little to no hassle, through a secure system accessible to the whole world. Now with the power of EventChain and Ethereum, we will have that freedom.
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