How blockchain can help tackle ticketing touts

Aventus is pioneering B2B ticketing software infrastructure to solve some of the biggest problems facing the ticket market

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Two years ago, Alan Vey was writing his thesis on blockchain, working with the director of the Cryptocurrency Researching and Engineering Centre at Imperial College, when he and Annika Monari—who was herself studying particle physics—decided to try and apply its applications to ticketing.

When Vey and Monari looked into the ticketing industry they identified three key problems: touting, counterfeiting and the expensive reselling of tickets on the secondary market. Various technological and legislative efforts have been made in the past to try and curb these issues but nothing seemed to be working. And so Aventus was born.

“We decided to research the music industry and really noticed what a big problem there was in ticketing and how well blockchain—and various properties of the Ethereum blockchain—applied to it and could solve it,” Vey tells me over the phone from their London office. “There have been a few big people who have looked at various protocols but nobody had got anywhere near ticketing.”

Aventus’ blockchain-based platform aims to bring greater transparency to the ticketing life-cycle by improving upon existing solutions and rewarding the identification of fraudulent activity.

“The Aventus protocol tries to give control to event organisers, via ticketing companies, to manage the entire life cycle of the ticket sale,” Monari explains. “That’s all the way from the creation through to determining how you want them to be sold in the primary market, what kind of pricing, how many you want to sell, who can even buy them, the seating map, all kinds of things like that.”

Blockchain technology then allows the original distributers to set price controls on the secondary market, eliminating the extortionate and uncontrolled re-selling of tickets to fans who may have missed out on the original sale.

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