Blockchain & The Event Industry

Blockchain could be a solution for better event planning and execution.
Blockchain could be a solution for better event planning and execution.

There is a lot going on with the event industry lately. It has some ups and downs mostly for its ticketing methods and processes. With a closer observation it turns out that currently there is no easy way to buy a ticket without any obstructions. You could feel the dissatisfaction almost every time you step into the process of buying a single ticket — from technical difficulties, to bots. Not to mention the preservation of tickets for insiders. Some event ticketing platforms even charge you to print yours at home!

Seriously?

This market is tricky. But business delicious.

According to the information from @aleksandrakcy: “the event industry is one of the oldest industries with historical growth consistency. The US Bureau of Labor Statistics predicts that the event industry will grow by 44% from 2010 to 2020, exceeding most growth predictions for other industries. Each day, thousands of events happen across the globe. These events happen for various reasons. Interestingly, 79% of US marketers generate sales using event marketing.

One of the biggest problems facing the industry is marketing. Industrial statistics show that:

– 50% of vendors have problems with getting people to respond to invites;

– 40% have problems with getting people to pay attention to invitees;

– More than 30% cannot minimize no-shows;

– Nearly 30% find it hard getting people to the event;

– More than 20% have problems with confirming who is attending.

Wide variety of people, including us, have experienced the annoyance of not being able to buy a ticket for a favourite band. In fact, the last personal example we can share was from October last year: we tried to buy tickets for a Kendrick Lamar’s concert in Amsterdam. It was definitely a bot with the combination of thousands of people looking at sale online booth at the same time, that resulted in most of the tickets to be reserved in the first 2–3 minutes of the sale. It was an outrageous experience for the buyer and fan! The resale market was flourishing. Unfortunately, sometimes the complications before the event may ruin your whole experience. So we need to change that, don’t we? Exactly for that and many other reasons, we are going to tell you how we have founded the first decentralized marketplace and ecosystem for performers, event organizers, nightclubs and venues, attendees and sponsors.

evedo is a one stop shop for the event industry.

Evedo is a blockchain based platform that unifies all businesses and participants involved in organizing events. No more ticketing fraud. Easier way to find new upcoming artists and talents. Easier way to book a venue straight away. Less stress when dealing with rentals & rental companies. And many other features that you are about to discover.

We believe that everyone has the right of one transparent process from the both sides of the industry. The event industry is completely aware of the challenges it currently faces. Unfortunately, oftentimes we take them for granted. In most cases the “event organizer” habitually holds back a percentage of tickets when they actually go on the public sale and preserve them for insiders (mostly friends and acquaintances). There are no rules for that. Some developers even code bots to hinder you from the buying process. We want to change that and fix so many other annoying things using the most reliable technology around these days — blockchain.

We know quite well who are the main players in the industry — event organizers, sponsors, artists and performers, venues and event ticket resellers. That’s why we have developed a B2C Market which also gives the ability for purchasing tickets for anything, anywhere and by anyone — safe and secure, without experiencing any fraudsters.

In the event industry we all know that the selling/buying point is really hard sometimes. Every event comes and goes, tickets are limited, fans are unknown number. Interests vary every single time based on different reasons such as seat availability, price range and awareness. The problem with the middlemen is huge. Brokers are using bots to buy in advance thousands of tickets before fans even have tried to purchase them. As soon as the sale finishes they rise up the prices and start selling. There are many cases when there are even duplicates sold. The blockchain technology resolves this issue immediately and thank goodness. Blockchain is the fundamental technology underlying our platform and business model. It eliminates the middleman and the need for trust between parties that organize or take part in events. That’s because it makes the whole process transparent, decentralized and secure.

What is this thing “blockchain”, actually? — According to Wikipedia blockchain is: A blockchain,originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Blockchains which are readable by the public are widely used by cryptocurrencies. Private blockchains have been proposed for business use. Some marketing of blockchains has been called “snake oil”. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash). By design, a blockchain is resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.”

Blockchain is the solution

A blockchain-based solution as Evedo could completely change the game for every player in the event industry — the organizer from one side, and the attendees from the other. It could effectively eliminate the incentive of the third parties such as the so-called brokers to get involved in the process.

The best thing about the Blockchain and the event industry is that every ticket could be with fixed price. You could resell it and the person after you could do the same but because of the public ledger the price will stay the same. The smart contract that is going to be used for example in Evedo will prevent malicious acts like ticket fraud, artist management related problems and management software issues. The solution is a unified platform that will structure all related parties into one decentralized ecosystem. All of them will be transparently connected.

In most cases if there is a fraudulent activity it is at the door a the event when people show their tickets for scanning. When blockchain technology is used such thing just cannot happen, the process is easy and secure. It has already revolutionized a ton of different areas worldwide. Not it’s time for us to give the entertainment industry the innovative tools we all need. And to be even more specific blockchain could solve the problem not only with the tickets but also with the identity management. Utilizing the blockchain technology keeps track of the transactions made by every single customer. Spreading this to all sorts of events, attendees who are trying to cheat could slide through but since their information is already in the system they are basically screwed. This, at first glance simple is going to help the event organizers to focus on attendees with smile on their faces and without any worries. Furthermore, by using blockchain the digital signature of the ticket could be connected to its original holder.

Evedo as the real game changer

The other great thing about Evedo is that combines all players in the field as we already mentioned earlier. Every customer will be able to do anything for its event from conference speakers to dancers, from Djs to live performers — absolutely anyone.

In other words Evedo is the A-Z solution that unifies all businesses and participants involved in organizing events. It’s a marketplace, an ecosystem where performers, event organizers, night clubs, venues, attendees and sponsors could communicate in safe and secure way. Above all that the participants, for example the performers could get more gigs, the sponsors could get more events to invest in a safe and completely transparent way; the venues could book more and interesting artists, the rental companies could sell more of their services. Everyone wins!

To sum up all that we could say that we are building the one and only solution — a unified platform that will structure all related parties into one decentralized ecosystem in a solid, protected way via our smart contract called EVED which will be build based on the escrow functionality. You can learn more about it here.

A truly better way to grow

We use Blockchain since we believe it is the firm and only way which could protect businesses and all participants organizing events from any fraud possible. We are sure that using our product will give you a better way to grow your connections, find new business, build trust and save time when organizing an event. And what is more, you also receive a more general and profound knowledge for your customer via our analytics. So, just give us a try and let start growing together!

All in all the blockchain technology is changing the world as we speak. And we are excited about every aspect of it. It was about time to hit the event industry with its whole power.

Stay in touch,

Evedo team

Further questions and news around the platform are discussed in the Telegram channel:https://t.me/evedoco

You can also check the Facebook of the project here: https://www.facebook.com/evedo.co/

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