Blockchain Technology: Scalping Is Over
Why scalpers are increasing in numbers today? There is only one reason why it is because of the upcoming events. The entertainment industry had expressed their side about how event ticketing becomes a major topic. People become excited when they hear an upcoming event like live shows, live concerts or any event that make use of event tickets. Thus, take the opportunity of scalping due to the list of upcoming events to be held soon. Although not all people aware of this, yet they have experienced buying overpriced tickets. Why? These people are opting for good seats during the event. So, they take the opportunity through buying expensive tickets which should not be the real price. This is the work of second ticketing market which should not be allowed to continue in the future.
How does blockchain technology work?
In a simple explanation, YellowHeart Blockchain makes clear that scalping is over. Through blockchain, each transaction goes digital. So, when it is applied to ticketing, it will be digitally signed to make sure its integrity and authenticity. With the blockchain technology platform, it shows a great promise for the business. So, event tickets will be under this shared distributed ledger technology. When a particular transaction comes into a blockchain, it will be executed with algorithms. The algorithms will work for evaluation and verification. This is how blockchain simply works. There is no need to give a hard explanation of this technology. As simple as that, it ensures that every transaction made will go through encryption. So, frauds and scalpers can’t get the chance of doing their bad transactions.
No to higher prices
YellowHeart Blockchain technology disagrees about higher prices of event tickets. The fact that tickets are for the masses, then it must be easy on the pocket. Since event tickets are high on demand, scalpers are tempted to work on their scalping system. So, fans must not be hooked with good words like getting goods seats. This is the main reason why you easily become a victim of scalping. Scalpers are always around, ready to sell higher prices in exchange for guaranteeing good seats. But. this is not true, it also fools you to get their overcharged tickets. You expected too much, and by the said day of the event, you will end up sitting at the backseat. By the time it happened, you have nothing to do but to stay because you have paid it. No one wants this to happen, blockchain never let this situation happened continuously.