Introduction
Hong Kong, a major metropolis with a diverse population, annually hosts a variety of concerts and music festivals. In 2023, world-known artists and groups such as DJ Alan Walker, BLACKPINK, Charlie Puth, and Jay Chou chose Hong Kong as part of their world tour. Traditional ticketing systems are commonly used to facilitate ticket sales and distribute tickets for various events. However, these systems are fundamentally flawed by vicious speculation, which poses harm to both Event Organizers and Ticket Purchasers.
Motivation
Both Ticket Purchasers and Event Organizers are negatively affected by ticket scalping and fraud. For Ticket Purchasers, the phenomenon of ticket scalping causes them to capitulate to scalpers, resulting in the purchase of overpriced tickets and the risk of purchasing fraudulent tickets. This hinders their enthusiasm to participate in future events, hence posing a threat to the sustainability of the industry. For Event Organizers, they may suffer reputational harm due to ticket scalping. It creates a negative perception among consumers regarding the arrangements, resulting in customer dissatisfaction.
To tackle the problems associated with traditional ticketing systems, Event Organizers have used various management strategies, such as limiting the number of transactions per individual and enhancing measures to combat ticket fraud, etc. Nevertheless, the aforementioned issues persist and have no indication of diminishing. Therefore, it is imperative to undertake a comprehensive revamp of the existing ticketing system to address the problems and ensure sustainable development within the industry.
Solution
To find a suitable solution to the aforementioned problems, we aim to develop a system that can bring improvements and benefits in critical domains, namely: 1) Enhanced security, 2) Transparency and 3) Trust, 4) Increased management capabilities, and 5) Sustainability.
The utilization of blockchain technology allows a distinctive and secure way to purchase tickets. From customers engaging in transactions to organizers hosting events, user satisfaction and effectiveness can be boosted due to its stable and dependable environment. Hence, a more robust and secure environment should be established to crack down on ticket scalping while enhancing data privacy protection.