Is Blockchain Going To Have Its Debut On Broadway?

4 min reading

Who would have thought that blockchain technology could be applied in the theater industry as well. It turns out that it is a powerful weapon in the fight against an increasing number of fake tickets. The wave of fraud can finally be tamed!

 

Pilotage Details

One of the biggest Broadway theater operators, the Shubert Organization, has joined forces with True Tickets, a Boston startup. Where is the place for blockchain in all this? The company offers mobile solutions targeted at selling tickets. For this cause, it uses a blockchain platform belonging to IBM, a technology giant which does not need to be presented to anyone as it became a highly commented topic. This company operates on many different fronts, launching newer and newer solutions for its customers!

True Tickets was selected as one of the two companies that were supposed to participate in the inaugural summer accelerator called Broadway Tech Accelerator. Yesterday, this startup announced that its pilotage project developed together with the Shubert Organization will start from next year. In the framework of testing, the digital service will be integrated with components belonging to ticket sales companies. The list here included Broadway Inbound and Telecharge.com. This, in turn, should guarantee customers that the purchased tickets are original. In this way the risk of fraud related to forgery will be reduced. Sounds quite interesting!

"At the end of the day, we aim to help our clients develop more meaningful relationships with their patrons"

- assures Matt Zarracina (the CEO of True Tickets).

Blockchain as a helping hand!

The scourge of forgery fraud is also flooding other industries. It is worth noting that the fight against this type of fraud was undertaken a year ago by Ticketmaster, which is a leader in the fields of software and ticket services. On the 18th of October, 2018, it was announced that it had acquired a blockchain company called UPGRADED. This, in turn, protects both fans and event creators from the fraud of converting traditional tickets into interactive digital resources placed on blockchain.

"Ticketmaster is constantly exploring emerging technologies, and there aren't many that have the unique possibilities of blockchain [...] We're excited to have UPGRADED join the team as we continue to focus on providing the world's leading identity-based ticketing platform to fans, artists, and our clients. We think blockchain and UPGRADED will continue our progress to improve ticketing and create a safer and more seamless experience." 

- claimed Justin Burleigh, Chief Product Officer at Ticketmaster in North America

It should be underlined that last year, even prior to the announcement of these plans, the company had a big problem. Many users have lost confidence of it because it has been sued for alleged unfair market practices. As follows, we come to the information showing that the company has massively accepted the resale of tickets, which, clearly, was against its policy. Ticket trading limits were probably evaded by the creation of false accounts. Later, the tickets were sold on the secondary market. Ticketmaster itself did not hide the fact that more than half of the most expensive tickets were bought by bots.

After the image crisis, the company apparently decided to change its attitude and started implementing blockchain in its operations. This technology helps it to, somehow, regain the trust of users and begin a trend of innovation. It is not worth staying behind, after all...

Waluta Kurs Dokonaj zakupu

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.