How blockchain can help tackle ticketing touts

How blockchain can help tackle ticketing touts

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 re-selling 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.”

Confused by blockchain? We’ve got you covered. Here’s Everything you need to know about... Blockchain

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.

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Charlotte Trueman

Charlotte is Staff Writer at IDG Connect

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