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Eticket announces World's First Blockchain Platform for Buying and Selling Tickets

Eticket announces World's First Blockchain Platform for Buying and Selling Tickets

The blockchain is touching every utility service in our daily life. Online ticket booking is also not untouched by blockchain technology, it seems.

Eticket, founded in 2015 by Israeli businessman Daniil Kruchinin and maker of p2p-platform for ticket sales Eticket4.com has announced that it is launching the ET4 blockchain platform. The purpose of the ET4 blockchain platform is to allow anyone to buy and sell tickets using the company's tokens.

Blockchain technologies are known to optimize costs and improve on the efficiencies of processes and platforms. Implementation of the Et4 blockchain platform allows the company to reduce platform commission per transaction to 4%. The average market commission per transaction is 10% to 30%.

On the p2p blockchain-platform ET4, everyone can conduct safe transactions for the purchase and sale of tickets around the world and without intermediaries.

In February 2018 and March 2018, Eticket issued ET4 tokens as a part of its ICO. Total of 2.4 million ET4 tokens were sold during ICO. The funds from ICO were used for the development of the blockchain-platform and marketing. Those who could not avail ET4 tokens during ICO can purchase tokens on BTC-Alpha crypto-exchange, as well as on the company's website, the announcement said.

Now buy/sell transactions are possible with the help of these ET4 tokens.

Blockchain-platform Et4 platform works as an escrow agent. The ET4 platform acts as the guarantor of any transaction with the help of smart-contract that uses escrow function. Other features of ET4 blockchain platform includes auction trading, an exchange platform and analytic tool for brokers, the possibility of making last minute deals etc. along with their feature APIs.

Daniil Kruchinin, CEO, and founder of Eticket said, "Now the company plans international expansion, as well as penetrating to other p2p-markets with the own blockchain platform: buying and selling personal belongings, real estate, transportation, provision of services etc. - all p2p markets with obstacle of trust, speed, and transparency. The blockchain opens new perspectives both for our company and for all buyers and sellers all over the world."

For active scaling, Eticket is negotiating investments from venture funds and investors. The company is also preparing for the second round of the ICO for only selected investors and funds.

The company, Eticket, further stated that its blockchain platform operates in Israel, Russia and the Asian market. In 2017, the platform reached an annual turnover of $2 million. The company has a stable growth rate of 2% to 4% each month with 3500 accredited ticket brokers on its blockchain platform.

Blockparty is another a US startup looking to bring blockchain technology to event ticketing. It already released its app on Apple Appstore. GUTS is another platform that uses blockchain technology to create a transparent ticketing ecosystem. EventChain also has its SmartTickets solutions for today's ticketing challenges and meant for concerts, conferences or festivals.

This post is subject to the original announcement.

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Mandar Pise Opinions expressed by techsutram contributors are their own.

Mandar is a seasoned software professional & Fintech, Cloud, IoT, and Blockchain enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about Fintech, Cloud, IoT, AI and Blockchain, and the effects they will have economically and socially in the future.

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