Building a whitelable ticketing solution on Waves
In order to understand Waves blockchain technology and contribute a meaningful “building block” to the Waves ecosystem, the development of the Waves grant project “Whitelable ticketing system” was accepted under the Grants program in August. Right now, we would like to share some insights into our solution, working with the Waves team and intermediate results.
Why a Whitelable-Ticketing System?
We started building a whitelable ticketing system because there are many use cases that require different implementations due to different regulations and different events where you may need fungible or non-fungible tickets and different rules of reselling.
A ticketing system is a good blockchain use case
The ticketing market — especially the secondary market for tickets — is very nontransparent and often includes bad actors. Buying a ticket for a live-event can be challenging because many people are interested in a limited number of tickets, and the sales period of original tickets is short.
The biggest issue in the market is scalpers: “people who resell tickets for a large, quick profit”. Event organizers try to prevent this by prohibiting the reselling of a ticket which adversely affects real fans who can’t make it to an event for genuine reasons such as illness, for example. The lack of an official secondary market and scalpers causes massive overpricing, fake tickets, and no-shows at events.
Blockchain introduced a new trust architecture: an environment in which users trust a distributed system — a shared ledger — without necessarily trusting any other parties involved. This new trustless system can lead to more transparency and accuracy of data while helping previously flawed, nontransparent markets become trustworthy and safe environments to exchange within.
Whitelabel solution boasting unique Waves functionality
Segments of the blockchain ecosystem — including Waves — began looking into this use case. There’s obvious, real-world demand from a variety of entities which can use this system as a solution, and there’s a range of different events, ticket types, and implementations. We created this Whitelabel solution which other companies can rebrand and/or build upon.
This ticketing system utilizes the Waves Blockchain for the issuance of tickets, tracking their validity, availability of fair auctioning with oversight by the event organizer, and reselling of tickets for either no, or small markups which can resolve the existing issues.
This application includes a wide range of Waves blockchain features and functionality which make it a good showcase of Waves in practice in the real world. Among other things, the solution utilizes smart assets, the Waves Keeper, the Waves DEX and dApp architecture.
The Solution: Features & Functionality
Our Whitelabel solution includes the following core features for the ticketing system.
For the Event organizer:
- Creating tickets — seamlessly create virtual tickets which have the same properties as real tickets. Every event will have its own smart account with smart assets (tickets).
- Transfer to distributors (resellers) or directly to end-users.
- Selling a ticket — everyone can buy tickets from the smart account for a given price.
- Easily verifiable digital and/or printed tickets.
- Reduce the number of disputes and guarantee a high level of service quality to all customers.
For the End-user:
- Can verify ticket validity without an intermediary by directly using the Waves blockchain platform
- Reselling a ticket — anyone can resell their ticket for a maximum price configured by the issuer of the ticket
- Can safely buy on the secondary market
- Compatible with Waves Keeper — shop directly from your browser
Working with Waves
The best aspect of working with Waves is the support from the community and the collaboration with the Waves Labs team. There is almost always someone available in the tech community to help you out, regardless of it being a difficult or trivial question. It was great looking into other projects, for example Bettex, and getting feedback on the implementation of the DEX. In the final blog post, we’ll share the code, explain a potential solution for the validation of tickets and the overall experience with Waves technology.
About:
- FullBlock Solutions: FullBlock is a hands-on tech and strategy company providing blockchain insider knowhow to assess, build and scale blockchain protocols and projects. https://www.fullblock.solutions/
- Waves platform: Open-source blockchain platform for cutting-edge dApps — giving you the tools to build your own incredible WEB3 solutions. https://wavesplatform.com/
- Waves Labs: Waves Labs is an initiative for supporting talented developers and promising startups focused on building the decentralised technologies that will form the backbone to Web 3.0. https://waveslabs.com/
