Block N' Roll: Ticketmaster is Turning to Blockchain to Help Verify Your IdentityOct 21, 2018, 9:01AM
Ticketmaster is looking to blockchain to verify the identities of event attendees to help secure venues and to better control ticket distribution
Ticketmaster, one of the world’s largest live-entertainment ticket distributors is turning to blockchain technology to help prevent the trade of fraudulent tickets, and to help event coordinators gain more control over ticket distribution. Through the acquisition of the blockchain ticket solution firm, Upgraded, Ticketmaster continues to build their next-generation ticketing technology suite.
In an October 18 press release, the companies detailed the new advancements that the technology will provide to Ticketmaster customers, noting that Upgraded’s blockchain based service will require no upgrades to existing ticketing hardware at live-event venues,
UPGRADED's unique approach leverages blockchain technology combined with dynamic, encrypted barcodes to prevent fraud often associated with paper or pdf-based tickets. The solution can be implemented without requiring a venue to replace existing access control hardware. [...] The UPGRADED team and technology fits into a suite of breakthrough live event products that include Ticketmaster Presence®, Verified Fan®, and Blink Identity, a facial recognition tool.
Identity verification is a hot-topic for live-event coordinators and event-goers alike. Large volume ticket scalping, where a number of tickets are purchased from an official outlet and then resold on the secondary "black market", isn't an illegal practice, but it does violate the terms and conditions of Ticketmaster and other distributors purchase policies. Despite this, the live-event industry is saturated with individuals and organizations that generate hefty profits by scalping tickets with little chance of getting caught. Even Ticketmaster itself has been implicated in perpetuating scalping for profit. In September, the Canadian Broadcasting Corporation (CBC) published an investigative piece that exposed Ticketmaster's questionable "TradeDes" service, leading to a class action lawsuit against the company.
Blockchain and Digital Ledger Technology (DLT) are highly effective technologies for identity recording and verification. Mastercard, a credit provider that relies on accurate identity verification in order to provide secure services to its clients, is also exploring blockchain as a means of creating immutable identity records. On a broader scale, Microsoft, alongside a number of other like-minded institutions and governments, is developing ambitious blockchain technology that looks to build “a new model for digital identity, one that enhances individual privacy and security across the physical and digital world” by returning control of personal data back to the individuals who own it.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.