Aventus: fair secure transparent blockchain-based event ticketing solution
Aventus: A fair, secure, transparent blockchain-based event ticketing solution
I stumbled upon this project called Aventus, it caught my attention, so I decided to read carefully. After reading some blog post about this project. I got more interested. I said to my self, this is a project of the century. Now follow me as I describe a little what I understand about the project to you in simple terms.
These is a great problem with the ticketing industry. Some of such problem are:
- The resale of bulk bought tickets at inflated prices on secondary markets.
- Counterfeit tickets.
- Maximizing ticket sales to the event’s target audience.
- We can say the event ticketing industry is broken.
Aventus aims to fix these problems. You might ask How?
I will explain in simple terms:
Aventus is a blockchain-based protocol that creates a more fair, secure, and transparent event ticketing industry. It does this by eliminating counterfeit tickets and unfair touting. Now organisers can create, manage and promote their events and associated tickets with Aventus thereby reducing platform cost.
What really amazes me is the way and effectiveness Aventus blockchain-based protocol uses to tackle the issues.
according to there blog source: Link here
Use of a Secondary Market Control
Aventus solution uses a model where off-blockchain transactions of tickets are prevented. Ensuring that sales occur through the platform. Event organisers can reliably enforce resale price minima and maxima, and even receive a portion of secondary sales revenue.
according to source this occur in two ways
Offering tickets which has an associated photo with them: This can be the owner’s face, identity document or credit card and is added at the point of purchase. Changes to the identity can only occur if the ticket is resold through a secondary market utilising the Aventus solution. The physical item photographed will be checked at the event and compared to that on the blockchain to grant entry.
This is Awesome. First of its kind. Lets dig deeper and you will see the beauty of Aventus .
Also owners reselling their tickets do not know who they are selling to: Tickets are put up for sale and all network participants can register an intent to purchase. Matching is then performed by network participants every so often to allocated tickets to interested buyers in a pseudo-random fashion.
These are some technical stuff I can’t really explain in simple terms so I just copied. have a look.
Aventus Uses high standard Blockchain Security
Each ticket has a unique identifier and due to the blockchain’s immutable properties, once the event organisers have set up tickets no counterfeits can be created. Due to the transparency of the Blockchain, any user can check the validity of a ticket immediately. If the event itself is fraudulent, Aventus’ economic model incentivises network participants to report it and subsequently determine its validity using a decentralised consensus mechanism.
Wide level Promotion and Cost Reduction
According to source Aventus will cause events to reach a wider and more targeted audience:
- All events listed on the Aventus protocol will be accessible to any application using it (unless forbidden by the organisers), forming a global, open pool of events whose tickets can be sold by any application, incentivized via a commission on each sale. This destroys the current siloed nature of the industry and encourages multiple participation to drive more sales.
- Event organisers can reward promoters with a commission on ticket sales they make. Note, promoters can be listing apps and/or individuals who help make ticket sales via these apps. Their commissions can be as dynamic and complex as desired, since each promoter can receive a different commission based calculations of reputation.
With just this little understanding, am definite that this project will shape the ticketing industry.
Join the ICO which comes up on September. Check out the website using this link
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