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HomeNewsAventus launches Ethereum-based Event Ticketing Solution

Aventus launches Ethereum-based Event Ticketing Solution

Aventus, a company from Imperial College’s Cryptocurrency Research and Engineering Centre, has released their whitepaper announcing a Blockchain-based event ticketing solution that gives power back to entertainers and value back to the fans.

On primary ticketing platforms like Ticketmaster, people use computer software known as “bots” to buy up tickets when they are released, making them sell out almost immediately. Then, the tickets are put on resale platforms like Stubhub at sky high prices, ripping fans off or stopping them from going altogether. Even worse, sometimes same ticket is listed more than once and fans end up buying a counterfeit that gets them rejected at the door.

Aventus solves these problems with a decentralised protocol that eliminates uncontrolled resale and counterfeit tickets. It allows event organisers to create, manage and promote their events and tickets with dramatically reduced costs, even letting them set price controls and receive commissions on ticket resales. It also gives ticket buyers rewards for promoting events and identifying fraudulent activity.

These innovations vastly improve upon existing solutions by bringing oversight and transparency to the ticketing lifecycle, security to the transfer and validity of tickets, and a new revenue stream for event organisers.

Aventus ensures that you aren’t ripped off when buying tickets; that tickets are priced fairly, and that you are rewarded for providing value to events. With Aventus, most of the money you pay for your tickets actually benefits event organisers instead of helping resellers make profits.

To keep up with Aventus news and learn more about their solution and strategy, check out their Twitter, blog or join their Slack group.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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