Is Blockchain Going To Have Its Debut On Broadway?

2 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...

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