GUTS Tickets tackles touting with the blockchain

GUTS Tickets tackles touting with the blockchain

Many startups are now using blockchain technology to try to solve some of the problems in the recorded-music ecosystem.

Now there’s one using the tech against the issue of online ticket touting. Amsterdam-based GUTS Tickets, indeed, is promising to help fans “say farewell to ticket fraud and disgraceful secondary ticket prices”.

The technology is described as “a ticketing system which uses blockchain technology to register ownership of SMART-tickets” which it claims “makes ticket fraud impossible. The ticket can only be (re)sold at a fixed price, so no more disgraceful prices for secondary tickets”.

Actually other companies are addressing these same problems: Twickets on the reselling side, and Dice on the non-transferable mobile tickets side, but GUTS Tickets’ decision to use blockchain technology is a new approach. “This decentralised network makes it impossible to change the properties of a ticket, but allows ownership to be transferred honestly and transparent”, claims the company. We’ll be keen to follow its progress.