Exscudo, the financial ecosystem which unites cryptocurrency markets and traditional finance has recently signed an exclusive partnership agreement with Crypto.Tickets which is a project to establish a universal decentralized platform for selling tickets. The Crypto.Tickets platform will be launched on EON blockchain, developed by Exscudo team. The cooperation between Exscudo and Crypto.Tickets will forever change ticket sales for the mass event industry. It will establish new standards with highest levels of security.
The cryptographic ticket is a logical step in e-ticket industry securitization. Although recently paper tickets evolved into e-tickets, making them accessible on electronic devices, there were few gains in terms of security. On the contrary, it resulted in new problems, such as online ticket bots accounting for a significant part of primary market ticket purchases. Blockchain technology disposes of many problems of the ticket industry forever, making the relations of market participants simple and transparent. No more speculations on the secondary market, fraud, forgery or incomplete ticket realisation. No more scalpers and high price cap for entering the market for distributors. The Crypto.Tickets platform solves all these problems and ensures a mutually profitable interaction for all market players.
EON blockchain provides a high level of security for the platform. It combines transparency of decentralized systems and bank secrecy features, enabling the division of rights between users and ticket systems and granting access rights according to their responsibilities. Anyone can watch accounts identificators and track any transaction with block explorer. However the content of transaction is protected with electronic signature. Therefore, you can easily determine that the ticket actually exists and find out the identificator of the person who purchased it but the details, such as purchase amount and so on, are kept private. And, where the swindlers do not see the purchase, they cannot intercept or fake it.
Fraud from the organizer’s side is also excluded. To guarantee full protection from fraud for the users there is a system of insurance deposits. Events organizers contact Crypto.Tickets via dedicated ticket systems. And such ticket system can only join Crypto.Tickets after providing an insurance deposit. This deposit is needed in case this system’s members start taking some actions against the common network. Ticket purchase is made by smart contract, which transfers buyers money to organizers’ account only after the system determines that the transaction is effective. If an organizer is new to the system or had some slip-ups in the past, then he or she will only get the money after the event. For old and confirmed organizers conditions may be more flexible. But even here there is no way to get 100% of the sold tickets’ money before the event.
Crypto.Tickets is a project creating a unique blockchain ecosystem which will forever change ticket sales for the mass event industry. Its mission is to establish a new standard for the ticket industry – without speculations on the secondary market, fraud, forgery and incomplete ticket realisation. Blockchain technology disposes of these problems forever, making the relations of market participants simple and transparent.