Inspiration

Every year, over 50 million fans spend hard-earned money to see live performances from their favorite artists. The price tag on events continues to increase while the average concert ticket price is at a record high sitting around $90 per seat. Unfortunately, almost 12% of people fall victim to ticket scammers through social media and other marketplace websites like Craigslist and this is a huge problem.

Thus, we decided to build TicketChain - a new and safe way to buy and sell tickets online.

What it does

TicketChain is an end-to-end platform for buying and selling uniquely identified tickets by harnessing the power of blockchain. Through smart contracts, we make sure that each ticket is unique and that the ticket can only have one owner at a time.

Thus, the platform solves two problems:

  1. Event organizers can sleep soundly because they know that no other ticket outside of the platform can be faked.
  2. Fans can be sure that they will buy a valid ticket every time - regardless if they buy from the organizer or another user.

How we built it

Solidity (Ethereum) and Smart Contracts are used to solve the main business problem of ensuring that tickets are unique and that they support transferable ownership. We used React to build the application and Node.js for the API.

In essence, every ticket has its own identifier and whenever it is issued, the ticket ends up in the blockchain which ensures that there will be only one and only ticket. Custom smart contracts allow ownership transfer of such tickets from user to user.

Challenges we ran into

The main challenge was to make sure that the ownership of the same unique ticket can be transferred from party to party. This involved writing smart contracts that would handle this.

Accomplishments that we're proud of

We are proud that with the newly assembled team we managed to build a working prototype in less than 24 hours.

What we learned

We learned that in the digital age, fake tickets are still a big problem causing millions of dollars of lost money.

What's next for TicketChain

  • Many ticket sale platforms suffer from bots (or people) which automatically buy huge amounts of tickets and then resell them. Using pattern analysis, we would be able to identify such suspicious transactions and revert them.
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