The new system aims to eradicate ticket fraud
Credit: Getty Two graduates from Imperial College London think their new tech will eliminate ticket fraud A new ticketing system could put an end to ticket touts and huge re-sale prices. Two graduates from Imperial College London – Annika Monari, 25, and Alan Vey, 24 – have created a “bitcoin of ticketing” system with hopes of erasing the problem.

Using cryptocurrency, the software, called Aventus Protocol, uses blockchain technology that would allow event organisers to give each ticket a unique identity that is tied to its owner. The blockchain technology can track where each new one contains an encrypted version of the previous one, meaning tickets can’t be faked.

It also allows organisers to keep tabs on the price of each ticket, if they are resold. The first test for the new software will be during the 2018 World Cup, with 10,000 tickets being sold to fan events around Europe and the US.

Monari and Vey also plan to work with football clubs for the sale of season tickets in 2019. Beginning of dialog window.

Escape will cancel and close the window. Speaking at the launch of the new software, Monari and Vey said that the process “has been an amazing journey.” “We used to sit in this common room having coffees and worrying about our coursework. Read more from nme.com…

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