Aventus launches Ethereum-based Event Ticketing Solution
A global standard for a more fair, secure and transparent ticketing industry
Aventus is unique because it seeks to apply blockchain technology to the event ticketing industry. While past cryptocurrency projects have found challenge in collaborating with corporations, Aventus has incentive for event organizers. Its practical elimination of fraud and inflated prices, while providing commission, will help the industry as a whole. The location of Aventus on the blockchain causes each ticket to have a unique identity.
This identity, once placed on the digital market, cannot be used again for the sale of counterfeit tickets. Additionally, the identity of a ticket is encrypted with information about its purchaser, stopping stolen tickets from being used Although purchasers will have to provide visual identification to accompany tickets, such information will be encrypted until verification, avoiding privacy issues. Ticket data will also contain limits on price, so that even on the unregulated secondary market, prices will remain at or below “true” market value.
Ultimately, this will save purchasers millions of dollars, while providing event organizers with commission (as tickets are documented for their whole digital lifespan). The Aventus coin is used as a medium of transaction, backed by fiat currency. Because consumers will buy tickets in fiat currency, then converted to crypto, buyers need not worry about fluctuating prices of cryptocurrency. The safety of a fiat-crypto connection is vital for the security of a ticketing system, a true accolade to the Aventus project. A hurdle for Aventus is the requirement for venues to install face-verification devices to authenticate tickets. This necessity could dissuade organizer collaboration, but the long-term benefits of increased commission and maximized ticket sales (due to lower prices on the secondary market) will overcome the issue. Aventus is a truly creative project, taking on the long-time issue of ticket corruption with effective policy.
The smart contract system of the Ethereum blockchain will prevent counterfeiting, improve documentation, and ultimately help everyone save money. Aventus is just another example of blockchain infiltrating the wider world to make positive change. The July ICO will likely generate the revenue for the project to take off, as it is too original and exciting to result otherwise.