WalChain Meetup: Blockchain Innovation in Action

Key Takeaways:

A pilot project lead by BE Blockchain using a blockchain system for ticketing and cashless payments was conducted at Trakk Namur, a co-working space for startups.
Attendees unknowingly used blockchain technology to purchase event tickets and WalCoins.
The system enabled fiat on-ramp purchases of crypto assets through a mobile app.

WalChain Meetup: Blockchain Innovation in Action

On May 12, 2022, at the TRAKK in Namur, blockchain enthusiasts, entrepreneurs, and curious minds gathered for the first-ever WalChain Meetup organized by BE Blockchain. This event showcased two groundbreaking blockchain projects including our product d-event. It was an opportunity to explore the practical applications of blockchain beyond cryptocurrencies, particularly in ticketing and event payments.

A Pilot Project for Blockchain-Based Ticketing

During the event, a pilot project was launched in collaboration with d-event, implementing a blockchain-based cashless and ticketing system. The initiative introduced the WalCoin, a digital token used for purchasing beverages via QR codes. Additionally, attendees could acquire their event tickets directly through the d-event mobile app, seamlessly connected to blockchain technology.

What made this experiment remarkable was that attendees unknowingly used blockchain to manage their tickets and WalCoins. A fiat on-ramp system was integrated, allowing participants to purchase crypto assets effortlessly. The app acted as a digital wallet, enabling users to handle both their event tickets and WalCoins for bar transactions.

This project was ahead of its time, proving that blockchain could revolutionize event management by making transactions seamless and eliminating unnecessary intermediaries.

Why Blockchain for Ticketing and Payments?

Blockchain technology offers secure, transparent, and decentralized solutions, which are particularly beneficial for event management. The WalCoin experiment demonstrated key advantages such as:

Reduced fraud: Counterfeit tickets are eliminated, as every ticket is verifiable on the blockchain.
Seamless transactions: Cashless payments enhance efficiency, reducing long queues and simplifying logistics.
Cost savings: Removing intermediaries minimizes transaction fees for event organizers.
User empowerment: Attendees can manage their assets easily through a single blockchain-based application.

for more info on d-event, check out our article on Museum lab, which explains it in greater detail.

Conclusion

The WalChain Meetup was a groundbreaking initiative showcasing blockchain’s potential in the event industry. It demonstrated how blockchain-based ticketing and payments could simplify user experiences while enhancing security and efficiency. This experiment remains a valuable case study for future blockchain innovations.

Blockchain: A Game-Changer for Fairer and More Secure Ticketing

While blockchain is often associated with cryptocurrencies, its potential to revolutionize ticketing is significant. Here are four instances where blockchain has enhanced security, fairness, and efficiency in ticketing.

Ed Sheeran’s Concerts: A Zero-Fraud Blockchain Solution 🎤

During Ed Sheeran’s performances at the Stade de France, the TIXNGO app, leveraging blockchain technology, was implemented to issue 176,000 mobile tickets over two nights. This approach effectively eliminated counterfeit tickets, ensuring a seamless experience for fans. (secutix.com)

Citizen Ticket: Stopping Ticket Fraud 🥷

Citizen Ticket, a blockchain-based ticketing platform in Scotland, combats ticket scalping and fraud by ensuring all tickets remain traceable and resale-restricted. Over the past three years, victims in the UK have lost more than £17 million ($22 million) to ticket fraud, with secondary markets being the main culprit.

In a fraud prevention campaign, over 1,500 people attempted to buy fake tickets from a test website, highlighting the scale of the issue. By securing ticket ownership on blockchain, Citizen Ticket protects both event organizers and buyers from scams and inflated prices. (Bitcoinmagazine)

Broadway Goes Blockchain: Theater Security in New York 🎭

In New York City, theaters have adopted blockchain to combat ticket scalping and counterfeiting. Notably, in a pilot program, only 1 in 1,000 tickets processed via blockchain showed signs of attempted fraud, marking a significant improvement over previous figures. (Highstreetcenter)

UK’s Ticket Fraud Problem: Blockchain as a Solution 🇬🇧

The UK has faced significant challenges with ticket fraud, with victims losing around £1.05 million to online ticket scams. Blockchain technology is being explored as a solution to reshape the ticketing industry and address these challenges. (protokol)

These examples illustrate how blockchain is transforming ticketing by enhancing security, reducing fraud, and promoting fairness. As the technology continues to evolve, its adoption in ticketing is likely to become more widespread, offering benefits to event organizers and attendees alike.