Blockchain could help solve UK ticket resale problem

Anyone who’s ever missed out on tickets to see their favourite band or football match will know the pain of ticket touts, often bulk buying tickets they have no intention of using before selling them on at a much higher price.

Well, blockchain could be the answer, with a new project aiming to stop such behaviour at the FIFA World Cup in Russia.

Aventus will use Blocside’s blockchain-based program for more than 10,000 tickets to fan events over the course of the event, protecting each tickets from counterfeiting and other fraudulant activity by linking each one to its owner.

Annika Monari and Alan Vey, the founders of the project, said at the launch event: “It has been an amazing journey. We used to sit in this common room having coffees and worrying about our coursework. But now, hopefully, we will be the people who can solve the problems in the ticketing industry. That would feel incredible and be such a huge achievement for us.”

Monari and Vey both have degrees in artificial intelligence and particle physics from Imperial College London, and Warwick University professor Mike Waterson acted as a technical advisor for Aventus.

“It has a lot of potential,” he said. “Thinking through the market from a fresh perspective is very useful. If they get genuine buy-in from a wide enough range of people then it is going to have a big impact on the market.”