With the ability to identify people against their tickets and credentials now more important than ever, blockchain is a technology that is becoming more and more important.
What is it?
Put simply, blockchain allows data to be distributed and stored on thousands of servers around the globe, while letting anyone else on the network see other entries in real time, or very close to it. The result is that it becomes very difficult – close to impossible – for one user to game carol of the network or ‘game’ it. This solves a massive issue for identity detection – where information is stored on only one server or device, it can easily be hacked and altered to the hackers desire. For example, a ticket generated using blockchain can be tracked indefinitely and clubs, leagues and venues can easily track the validity of the ticket and its real owner.
Why is it important for sports and entertainment?
Blockchain is valuable where digital identity that depends on being very clear about an owner of an item of value, such as a ticket, loyalty reward or virtual currency is concerned. If your organisation wants to issue ‘virtual cash’ as a reward, blockchain can safely enable this and ensure that the right people get rewarded when they should.
How blockchain can be used
From a customers perspective, a ‘blockchain ticket’ will not drastically alter the buying experience. The initial purchase is made in exactly the same way a ticket is currently bought. The payment process is also the same. The change occurs when the ticket is delivered to the customer – they will receive a personal secure ticket key for their mobile wallet, allowing the ticket to be used or resold, with full visibility from the rights owner.