Back in August, U.Today reported about the potential of Blockchain to elevate the luxury goods market by tackling counterfeiting. However, this use case extends far beyond expensive Rolex watches – Ticketmaster, one of the biggest live music industry players, has recently adopted the nascent technology in order to eliminate the rampant ticket fraud.
Engadget states that Ticketmaster has recently bought a Blockchain-based startup Upgraded that converts traditional paper-based or PDF tickets into digital tokens. Upgraded CEO Sandy Khaund claims that millions of fans around the globe could benefit from their solution since they can be absolutely certain that their ticket is legitimate.
On top of that, Blockchain could also help Ticketmaster to restore its reputation amidst ticket scalping accusations.
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Arman Shirinyan
Dan Burgin
Vladislav Sopov