BusinessCloud (11/29/17) by Jonathan Symcox
The Dutch blockchain startup Guaranteed Unique Ticketing System (GUTS) makes it impossible to resell tickets illegally or at marked-up prices, with backing from key players in the U.K. music industry. GUTS accomplishes this by allowing the registration of ownership of SMART tickets, and launching a blockchain-based event ticketing protocol called the Guaranteed Entrance Token (GET). GET is founded n the Ethereum blockchain and will enable event ticket sales by issuing SMART tickets to wallet addresses on the blockchain. GET tokens are needed within the GUTS ticketing ecosystem for generating and trading SMART tickets, because without them event organizers cannot create events or issue SMART tickets, nor can they change the status of a contract, thus thwarting ticket fraud and scalping. This measure will guarantee a transparent and decentralized event-ticketing market that promotes "honest ticketing." "We believe in fair ticket prices for all, and the GET token is an important first step towards eliminating the fraudulent side of the secondary ticket market," says GUTS Tickets CEO Maarten Bloemers. GUTS also has launched an initial coin offering that will let other event organizers and ticketing companies employ the GET protocol via its open source infrastructure and scale GUTS' blockchain-based ecosystem.
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