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What's the problem?
Nowadays, it seems that fans expect to pay many multiples above face value to see their favourite artists perform. The average consumer simply cannot compete with sophisticated scalpers looking to make an easy profit. Popular concerts sell out in seconds, only to have the tickets immediately posted for resale at much higher prices.
Scalpers control the market - it's hurting venues, artists, and most importantly, fans.
How does BloxOffice solve the problem?
Scalpers are in business for profit. If we can eliminate that incentive, there is no reason to scalp. Since every BloxOffice ticket transaction must occur on the blockchain, we are in control of the entire process.
_ If a ticket is ever sold in the aftermarket for a profit, that profit is given back to the initial ticket issuer _. Not only does this discourage scalping, it also allows an event organizer to capture the full value of their ticket sales.
Tickets on the blockchain? What does that mean?
The BloxOffice system is built as a smart contract on the ethereum blockchain. The network controls the issuance of tickets and validates transfers. Each ticket holds the public address of its owner, so we know exactly who it belongs to.
It is impossible to create a fake ticket, as the origin of every ticket can be traced to its source. Additionally, since no transactions can be made off-chain, all transactions must follow our rules.
Accomplishments that we're proud of
This is the first time our team has developed anything. Period. No experience with solidity, no experience with front-end dev, only basic coding knowledge. We are exceptionally proud of writing and deploying our smart contracts.
** Shoutout to the team from Scotiabank's Digital Factory! These heroes helped us all along the way **