Blockchain-based ticketing firm Aventus has unveiled the first version of its Aventus Protocol source-code.
Aventus Protocol is an open-source blockchain ticketing platform that will allow anyone to build powerful decentralised applications for the ticketing industry.
The initial release, Aventus says, represents the building blocks for new innovation. The Aventus Protocol code is currently undergoing a third-party audit.
Aventus co-founder Annika Monari said: “The potential for this to enhance the current standards of expectation for ticketing are huge. What we are talking about here is an entirely fair and secure blockchain-based system, which virtually eliminates ticketing fraud and the scourge of unregulated touting.
“We want to work with the ticketing industry and encourage developers to review and engage with the source-code we are making available today.”
The programme, which is powered by blockchain, facilitates a supply-chain that strengthens control and operations, and prevents counterfeiting.
This additional blockchain-enabled functionality ensures all parties in the supply-chain must adhere to pre-defined rules and greater security; considerations of paramount importance to ticketing sites coming under ever more forensic regulatory scrutiny.
The Jersey-based non-profit hopes that its protocol will prompt adoption in the ticketing industry, with the aim of helping to facilitate a self-regulating community centred on the ability to securely release, deliver and transfer ticket ownership.
Fellow Aventus co-founder Alan Vey said: “Event organisers will see the value in it, because it will enable them to effectively and efficiently manage and promote their ticketed events with significantly enhanced control over the ticketing supply chain.
“The protocol will also help them to foster greater trust and enhanced relationships with both ticketing partners and their customer base.”