The latest blockchain technology news says that Ticketmaster is now planning to start offering smart tickets. Ticketmaster is the world leader in ticketing software and services. The platform acquired UPGRADED, a blockchain company that is active in servicing the live events field. UPGRADED uses blockchain solutions for converting traditional tickets into interactive and secure digital assets.
These assets offer more control and visibility to the event creators over ticket distribution and also protect fans from fraudulence in ticketing. With the acquisition of UPGRADED, Ticketmaster now can offer a safer and more personalized experience to its fans and also provide valuable insights and data to the owners of the event when the tickets are being distributed to the attendees.
The unique approach of UPGRADED enhances the influence of blockchain technology when combined with encrypted and dynamic barcodes for preventing the fraud that is associated with the use of PDF or paper-based tickets. It is possible to implement this solution without replacing the existing access to control hardware.
The latest blockchain technology news states that Ticketmaster will integrate this technology with the other recent efforts from the company to secure and streamline ticketing process including Verified Fan, Presence, and Blink Identity, the facial-recognition tool, reported Variety. According to the Founder and CEO of UPGRADED, Sandy Khaund, “Ticketmaster is the unquestioned leader in live event ticketing and is the perfect platform for us to bring the unique promise of blockchain to millions of fans.”
He further added that UPGRADED will help the company to maximize the trust of ticket holders, give flexibility and control to the owners of content, and data to performers and teams, reported Cision. Khaund said that they are proud of their accomplishment and are looking forward to working with the team of Ticketmaster.
The blockchain technology news from ETH News reported that UPGRADED and Ticketmaster may face the issue of scalability. At present, Ticketmaster sells around 500 million tickets annually something which the Ethereum blockchain-based platform may not be able to handle. So in the coming days, Ticketmaster will have to find a solution to this problem to ensure that the speed of ticketing does not suffer due to high volume.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]