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Role Of Blockchain To The Ticketing: A Complete Guide

Technology
UPDATED: September 18, 2019

There are many people who are not aware of the things that blockchain can help them and how powerful blockchain is. This is one of the reasons why a lot of developer in every part of the world keeps their effort in introducing blockchain to the world and in every transaction. Blockchain is the technology that enables the block to record things in the chain so that the record will be able to last forever. Blockchain enables every network to access by every legitimate network.

Bitcoin use blockchain

Importance of Blockchain In Ticketing

  1. Prevent Second Marketing in Ticketing. This is where people don’t understand that in today’s system of ticketing for live performance, concerts and even in games. There are two marketing that is running to the market, the reason why developers think about this YellowHeart Blockchain is to prevent the second marketing system of ticketing. The primary market is known as people are able to buy the ticket in the original cost, this will be because of the organizer’s declaration. An individual can get great seats from this system but they need to pay with high fees. Another is the second market system ticketing, this is where every individual is able to buy their ticket but at a very high cost as some people will hold it for them and then will resell to other people. The reason why blockchain has a very important role in ticketing.
  2. Increased Privacy Guarantee. This is where blockchain can always guarantee a company with regards to their transactions that have been saved to the blockchain. There are only some people who can access, the reason why a lot of companies, financial like Bitcoin use blockchain as this will always protect the data and records. People are able to get the importance of keeping their important data for the benefits of the whole system. This is also applied in ticketing, the legitimate network will be only able to access the whole transaction of the system and data itself. This is to protect every file and data from the buyers and as well as to the other party.
  3. Secured Things Towards Data Breach. There are a lot of cases today in every part of the world, that the data will leak and get hacked. The reason why the developer wanted to practice the power of blockchain technology. Data breached is the leakage of records or data. This is the reason why a lot of people lose the network for the company, this is one of the most important things every individual need to have.
  4. High Efficiency to the High demand. This is the reason why a lot of developers wanted to use this blockchain technology, in response to the high demand of clients. This happens when there is a peak season of live concerts, celebrities so as to response this blockchain technology is being used for the benefits of the ticketing system. This can help the process and the transaction of ticketing. This will both beneficial to the two parties of the system.
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