Festival Insights NEWS: BitTicket launches blockchain ticketing solution and campaign to end industrial touting
UK: In one of the first real world applications of Blockchain technology, BitTicket aims to put an end to the large scale ticket touting scandal plaguing the live events industry. On launch it has partnered with TheTicketSellers, which will become the UK’s first large scale ticketing platform to implement blockchain technology.
BitTicket hopes to revolutionise the ticketing market, using blockchain technology to make the ticketing industry a fairer place to operate. Its aim is not to disrupt the industry, rather to become part of the buyer’s journey, providing greater security that also tackles industrial touting and counterfeiting. After rigorous testing at live events and the completion of stress testing, BitTicket’s system can now be implemented across multiple ticket vendors.
Secondary ticketing is currently estimated to be a £1 billion-a-year industry, with professional touters enlisting…
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