The UK’s first large scale ticketing platform to implement real world blockchain technology has launched, and aims to revolutionise the ticketing market by making purchases safer and more secure from touting.
TheTicketSellers will implement BitTicket’s blockchain technology to fight against secondary ticketing – a £1bn-a-year industry where touts use software to buy hundreds of tickets at the same time, and sell them on at a profit.
BitTicket’s technology will create a wallet feature to store tickets, allowing tickets from any provider to be held in one place. The entire ticket journey can then be tracked by promoters, from purchase to entry. It also uses identity profiling to spot ticket-touts and ticket bots.
Bclockchain technology has been heralded by some in the music industry as a solution to managing increased volumes and complexity of music rights and usage data in the digital marketplace.
It has become well-known for its use in payments systems for its ability to manage records without centralised governance – a characteristic that can be harnessed to resolve issues between conflicting identifiers for the same work across multiple rightsholders.
Phil Shaw-Stewart, Co-Founder of BitTicket said: ‘We met the TheTicketSellers at Shambala and immediately knew we wanted to work with them.
‘TheTicketSellers are one of the UK’s most trusted independent ticketing sites, have sold two million+ tickets to date and manage multiple large scale independent festivals including Boomtown Festival, Shambala and Nozstock The Hidden Valley.
‘They are an amazing team that take great care in looking after their clients and customers. They will now be the first ever ticketing platform to implement BitTicket.’
Phil Hayes, Chief Technology Officer at TheTicketSellers said: ‘We’ve invested heavily in the checkout experience for customers to ensure that buying tickets is as easy as possible.
‘Now, with our partnership with BitTicket, our customers will have the reassurance that their purchase is backed by their innovative blockchain technology. We look forward to seeing this become the industry standard and are proud to be part of the initiative on day one.’
To find out more about BitTicket and to sign its petition to end industrial ticket touting, visit www.bitticket.io.