UEFA implements a blockchain-based ticket distribution system
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Answer UEFA implements a blockchain-based ticket distribution system
The European Football Association (UEFA) has announced a new system for booking football matches using blockchain technology, the new experience has already been applied on the ground in the European Super match last week between rivals Real Madrid and Atletico Madrid, which ended in favor of the latter with four goals to two goals.
UEFA said in a statement posted on its official website that it had relied on blockchain technology to sell entire match tickets, and they were sold and distributed through smart apps on Android and iOS.
How did blockchain technology solve the problem of ticket fraud?!
The European Union has always had problems with ticket fraud by some people and there is no way to know the real tickets from others due to the tight reception times and the huge number that is impossible to control 100%.Read:Margin trading costs a trading platform manager to lose $80 million in client funds
This fraud also created other problems such as crowding of fans and increasing their numbers, which makes safety and security in the wind and makes stampedes, crowds and riots as close as possible to happen, and also this fraud leads to the lack of real tickets sold compared to fake tickets, which reduces the profits of matches.
The European Union always remembers the 2007 Athens final between Liverpool and AC Milan, which witnessed unspeakable fraud and overcrowding, and even the stadium security closed the doors for many people with real tickets because there were no places in the stadium.
Also, one of the problems that traditional tickets face is the ease with which they are dealt with by black market dealers who buy as many as possible and then resell them again at a higher price, which is not possible when applying blockchain technology. The bad also is the difficulty of obtaining tickets by many fans because it is Executed within a few hours of selling.
Blockchain technology has found the solution to all the previous problems, which is to provide a new application on the iOS and Android systems that is based on blockchain technology and reserves tickets for people who want to get them, but each person has only one ticket, which makes the presence of fake people does not exceed 1%.Read:SEC chief warns merger update could turn ETH into a security token
The matter is not only in obtaining tickets, but there must be confirmation when entering the stadium by the same phone through which the purchase was made, and it is necessary to access the database in the encryption system to confirm the person wishing to enter the stadium.
This method was previously tried before the Madrid derby, in the Atletico Madrid vs Marseille match, and this was the first time that blockchain technology had proven its ability to work as professionally as possible.
UEFA previously announced that it will rapidly develop its systems based on blockchain technology, and it is reported that the European Union has signed an agreement with coindeal to increase discipline rates within stadiums and avoid any unhelpful complications.
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