Broadway’s biggest ticket operator, the Shubert Organization, is incorporating a blockchain framework into its business in an imminent pilot focused on battling ticket fraud.
The organization, through its Telecharge and Shubert Ticketing divisions, has joined forces with Boston-based startup True Tickets, which provides an IBM blockchain-powered mobile ticketing arrangement. News on the collaboration was announced in an October 16 report from Fast Company.
True Tickets, which was chosen to participate in this summer’s debut Broadway Tech Accelerator, will see its digital ticketing administration linked into segments of the organization’s ticket sales business, including Telecharge.com and its group discounts service Broadway Inbound.
Matt Zarracina, CEO of True Tickets, has stated the pilot allows the startup to actualize its blockchain solution to help customers as a part of a “massive multichannel marketplace.”
As Fast Company underscores, Broadway — similar to other entertainment industries — is tormented by ticketing scams like the resale of phony or duplicate tickets. Accordingly, it is expected that blockchain can go some path toward reestablishing transparency for consumers and businesses.
In fall last year, blockchain-centered live events company Upgraded was acquired by worldwide ticketing tycoon Ticketmaster.
Ticketmaster stated at the time that it intended to digitize regular tickets into intuitive units ensured by blockchain innovation by means of encrypted barcodes in an effort to fight fraud.