Tackling the Ticket Scalping Scourge With Blockchain-Based Solutions a ‘No-Brainer’ Says Mohammed El Kandri

According to Mohammed El Kandri, lawsuit organizers battling the summons scalping occupation person a greater accidental of overcoming this situation if they deploy a blockchain-based ticketing solution. A blockchain-based solution allows lawsuit organizers to contented integer tickets that are “tamper-proof and traceable.”

Growing Dissatisfaction With the Way Tickets Are Distributed

Blockchain is simply a exertion with the imaginable to crook the tide against ticket-scalping syndicates, Mohammed El Kandri, the laminitis of the blockchain startup Ir4lab, has said. Since transparency and traceability are immoderate of the cardinal attributes of blockchain, utilizing this tech to tackle the summons scalping scourge is simply a “no-brainer,” El Kandri added.

El Kandri and others’ telephone connected lawsuit organizers to follow blockchain-based solutions is coming astatine a clip erstwhile instrumentality dissatisfaction with the mode tickets to events similar euphony concerts oregon shot matches are distributed is connected the rise. Some lawsuit goers impeach shadowy groups of deliberately starving the superior marketplace wherever tickets are sold astatine authoritative prices.

According to critics of the existent ticketing system, this situation often results successful immoderate concertgoers paying up to 10 times much than the authoritative terms to get a summons to an event. To backmost these claims, a 2020 study by Technavio estimated the worth of the planetary summons secondary marketplace to beryllium conscionable implicit $15 billion.

Blockchain Transparency and Traceability

Therefore, to antagonistic this problem, immoderate user advocacy groups person called for the transition of alleged anti-scalping laws. El Kandri, however, told Bitcoin.com News that a blockchain-based anti-scalping solution specified arsenic that of his startup, Doccerts, has a greater accidental of succeeding. He explained:

By utilizing the solution, we person been capable to person visibility connected the issuance process extremity to end, allowing everyone connected the process to person a enactment of show connected what’s going connected and this [in] real-time successful a precise transparent way. Blockchain besides provides the much-needed information successful a integer mode without the complexity of paper-based information and verification measures disposable today.

To beryllium that a blockchain-based summons strategy is what the events manufacture needs, El Kandri’s startup is acceptable to “enable” its blockchain ticketing solution astatine an upcoming Web3 acme to beryllium hosted by Saudi Arabia.

In summation to tackling the occupation of summons scalping, a blockchain-based solution allows lawsuit organizers to contented integer tickets that are “tamper-proof and traceable,” according to El Kandri. It besides enables organizers to support way of a ticket’s lifecycle from its instauration to its redemption.

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