Time and time again, blockchain is getting into the headlines with industries that it is penetrating and ticketing is one of those promising ones. However, the complexity of blockchain often makes us cringe let alone embracing it with the potential of jeopardizing somebody’s career. Here are some points to note when you’re keen to embrace this revolutionary technology in your daily ticketing business.
Blockchain is not cryptocurrency
At the first onset, people tend to view blockchain and cryptocurrency as one and believe they are inseparable. The fact is blockchain is only the underlining technology that empowers cryptocurrency like Bitcoin. Without blockchain, Bitcoin is basically impossible to work. However, the opposite is not true. Cryptocurrency does not fuel the blockchain technology. Think of blockchain as the Internet to power online banking websites. Without the Internet, online banking doesn’t work, but the Internet can still be used by millions of other websites and apps, same as blockchain.
Blockchain ticketing does not need Bitcoin
Blockchain in ticketing does not necessarily need you to accept Bitcoin or Litecoin to let people pay for tickets. You don’t even need to issue your own cryptocurrency (also known as altcoin). You only need to accept cash or online payments for people to pay for your tickets. Period! But, it’s good if you could allow people to pay using Bitcoin, but then that might not reach that far end of the cryptocurrency usage spectrum yet as some people still wish to keep their Bitcoin as an investment, not as a currency. What if the price doubles tomorrow? So most prefer to keep their hands wrap around their precious cryptocurrencies instead of using it to buy a pizza.
Blockchain can be an extension of your ticketing system
Once you’re sold that blockchain is the future and you wish to embrace it, the next question is, how? How on earth do I get blockchain to work on my existing software? Must I buy new hardware or software to install? Well, not necessarily. Think of blockchain as a new online payment gateway that you need to integrate into your existing ticketing software via an API (Application Programming Interface) or SDK (Software Development Kit). Must I know all about the technical details on how blockchain works? Nope, you only need to know how to use blockchain like how to send and receive Bitcoin. But in this case, you send and receive ticket token – the digital version of a ticket residing inside the blockchain.
Blockchain can also come in a stand-alone ticketing system
If you currently don’t have a ticketing software, you could also embrace blockchain ticketing by partnering with software companies that are able to develop a blockchain-based ticketing system for you. Or you could work with those who already have a white-label version or a platform. You just need to plug and play (sort of).
Blockchain doesn’t only stay inside blockchain
Blockchain doesn’t have to be complicated to use
We do agree that blockchain can be quite complicated to use especially for non-techies. If you just take a glance at Etherscan website, you’ll only see jargons and numbers. It looks almost like a stock trading website (I’m assuming most of us don’t trade stocks). Thus, we’re constantly striving to make blockchain to be more layman for everybody. For instance, our new blockchain block explorer shall be a lot more intuitive and user-friendly to use than Etherscan and focuses only on reading tickets. Wait, you might ask, what is a block explorer? A block explorer is a website that lets you view the content or data inside a blockchain. It’s like an online banking website to view your banking transactions but for this, it allows you to view everyone’s transaction but anonymously. For instance, if I wish to send one Bitcoin to my friend named Pedro, I want to check if he received it. So, all I need to do is check my Bitcoin wallet (like my bank account number) and see if there’s a successful transaction indicating that my Bitcoin has arrived in Pedro’s Bitcoin wallet. Same goes to ticket token. You could check if you have successfully sent a ticket token to a friend. You could also check to see if a ticket is real or fake. Which leads to the next point.
Blockchain could also embrace old-fashioned paper tickets
You don’t need a smartphone app to support blockchain tickets. Again, you can if you want to. But not necessarily. It’s like you don’t need online banking just to do banking. You can walk into a branch too! So, with that, blockchain can support legacy ticketing systems that only issue paper or PDF tickets. All we must do is ensure there’s a blockchain wallet (again like your bank account number) printed on the paper ticket to store or access the ticket tokens. But what about counterfeits? Well, that’s where the power of blockchain comes in handy. Someone could counterfeit a piece of paper but the ticket token inside the blockchain cannot be faked or forged. Otherwise, people would have created fake Bitcoins! Thus, each paper ticket can be authenticated by checking its ticket token which contains the event info, seat allocation and more.
Will blockchain change the ticketing world?
We truly believe blockchain could dramatically change the landscape in the ticketing world and it’s a matter of time for some companies to take that “leap of faith” forward to give blockchain a chance. For the faint of heart, one advice is to take it one event at a time.
If you’d like to learn more about how to power your tickets with blockchain, please kindly contact us for a free demo.