EventChain Smart Ticketing platform — solving counterfeiting and ticket scalping using the Ethereum blockchain. EventChain is an advanced decentralized blockchain token network that powers a unique smart contract ticketing system (SmartTickets™). EventChain solves many of the problems with current event ticketing systems available today while providing the additional benefits of using a blockchain as the foundation by creating immutable Smart Tickets that cannot be counterfeit and allow artists and vendors to sell tickets with almost no processing, convenience, and purchasing fees.
EVC Tokens are an ERC20 Ethereum token designed specifically for use as a utility token within the EventChain platform. Both the EventChain system and its EVC Tokens encourages everyone in the ecosystem, including all stake holders such as event managers of sport and concert events, party organizers, social clubs and ticket purchasers to sell or buy SmartTickets using EVC Tokens and other traditional payment methods.
What Ticketing Problems are solved?
There are many many issues in the current event ticketing industry that are solved through EventChain, but lets focus on four of the main issues
1. Counterfeit tickets are created and sold for events.
A finite amount of immutable SmartTickets will be available for each event and are tied to an event’s smart contract. Each SmartTicket has a unique nonce, or unique sequence number that makes it impossible to be sold multiple times or counterfeited on the network. Proof of ownership can be verified through the Ethereum blockchain by implementing zero-knowledge proofs whereby a purchaser can prove ownership of their ticket without revealing any information besides the fact the ticket is theirs.
2. No immutable proof that the ticket is an authentic original ticket
SmartTickets have the ability to maintain data in the form of smart contract code and can be interpreted through the EventChain Oracle, so if a SmartTicket is resold all of the original ticket information is still embedded on EventChain’s framework.
3. Pre-sale ticket offerings are often not transparent
Using the Ethereum blockchain as a foundation brings a higher level of transaction accountability, scalability and fungibility to the event ticketing industry than any existing centralized ticketing architecture available. The EventChain network on the blockchain brings complete transparency to all parties involved.
4. Ticket scalpers mark up resale tickets 200% or more in an unfair manner
SmartTickets are fully programmable, enabling smart contract code that can peg tickets at a permanent price, designate a maximum markup value, or attribute any other individual or group ticket pricing variables on both the primary and secondary markets.
To prevent massive ticket purchases from scalpers, event ticket distribution options can be tailored with any custom range on the amount of tickets available to single users or groups, and optional constraints that allow for alternative distribution methods.
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