We’ve seen a growing cluster of startups using blockchain technology to try to solve some of the problems in the recorded-music ecosystem. Now there’s one applying the tech to the issue of online ticket touting.
Amsterdam-based GUTS Tickets is promising to help fans “say farewell to ticket fraud and disgraceful secondary ticket prices”. How? It describes its technology as “a ticketing system which uses blockchain technology to register ownership of SMART-tickets” which it claims “makes ticket fraud impossible. The ticket can only be (re)sold at a fixed price, so no more disgraceful prices for secondary tickets”.
There are certainly other companies addressing these problems: Twickets on the reselling side, and Dice on the non-transferable mobile tickets side, but GUTS Tickets’ decision to use blockchain technology is a new angle.
“This decentralised network makes it impossible to change the properties of a ticket, but allows ownership to be transferred honestly and transparent,” claims the company. We’ll be keen to follow its progress.