Blockchain for distributing a limited resource

Limited Resource Distribution

Blockchain is an excellent tool for distributing a limited resource and offers an exacting method of codifying a wide range of legal rights or entitlements, be that to a piece of real estate or to inherited goods.  

Tickets to a major cultural or sporting event is a fine example that belongs to this category of transactions and not only the tickets for this type of an event. Here we can also include airplane, train and cruise ship tickets. The list can go on endlessly. We can codify and distribute pretty much anything - any event that we can imagine, for example, tickets for viewing a waterfall! Why not? 

A number of tickets is always limited by the number of seats, available to the viewers, or the size of the venue for the event or any other appropriate limitation. To its owner, a ticket has a specific value and, thus, it inaturally becomes subject to a speculative assessment, i.e. a commercial activity. 

This is how we see our business process in this case:

An event organizer issues a certain number of tickets, determined by the number of the available seats for the event, and exchanges these for money with which he covers his own expenses and rewards himself for his own initial investment. This is a perfect scenario for launching an ICO in which tokens wil play the role of the tickets for the above-mentioned event. 

In fact, tickets in many of their aspects are practically identical to the ICO tokens. Currently, we are using paper tickets less and less and, increasingly, a ticket (in the form of a QR code, for example) has become merely an electronic identifier for a record existing in a sales database.  This makes it a perfect object for tokenization. And the only question that remains in this regard is "how useful would tokenization really be in this case?"

The issue here has to do with the fact that the event organizer already uses a database for selling tickets that, in many aspects, is as effective as any blockchain-based database can be, and that can easily compete with blockchain technologies. However, the advantages, offered by blockchain in this case, have to do with the unique opportunities it offers for reselling tickets in a secondary market, for using a certain number of tickets for raising funds for a charity project and, in countries where scalping is illegal, for monitoring (and even controlling) all transactions involving each single ticket. 

Blockchain, in fact, provides for a greater flexibility in applying various marketing strategies to ticket sales. It gives a greater control over the distribution of all tickets and serves as a powerful guarantor that the event organizer and the ticket sales agent will most definitely receive their fare share of each ticket's value. Tokenization also offers to the event organizer an excellent opportunity for saving money on commissions, paid to the ticket agents, and in some cases, if the necessity arises, for completely excluding third parties from ticket sales for his event and for carrying out the distribution of tickets exclusively by himself. 

Blockchain will also provide a highly effective tool for establishing bonus programs and other customer loyalty reward schemes. Whatever your needs may be, whether it is exchanging a certain number of unsold tickets for accumulated bonus points or building a community around a specific event or organizing a fan club for a tour, all is possible and can be prescribed and codified into the function of your token during the writing of your smart contract for the event. The functional abilities of any project, developed and  backed by blockchain, is always under the full and specified control of its organizer. 

And if the benefits, mentioned above, are not sufficient enough for convincing you to entrust the technological solutions for your business to blockchain technologies, we can also talk about the excellent security features that blockchain offers to protect you from double sales and fraud. This is the area, where up to this point, there have been no permanent and reliable solitons, that it it only until the arrival of blockchain. 

Tokenizing ticket sales will also protect markets from possible monopoliziation by those who may have a particular technological advantage. It will also create favorable conditions for the coexistence of numerous competitive platforms for ticket sales and their competition will be driven by the quality of the customer service and experience that they provide. 

Other limited resources are equally subject to the successful application of blockchain technologies. Like with ticket sales, tokenizing these resources will provide its owners with a powerful and precise tool for mastering distribution, effectively conducting sales, promoting a highly satisfactory relationship with their clients, protecting them from double sales and fraud and for controlling ticket resale in the secondary market, something that was impossible to monitor and control before blockchain. All complicated issues in relation to the distribution and sale of a limited resource find in blockchain technologies their elegant solution. 

We will be happy to provide you with blockchain solutions for managing your limited resource. If your are interested in tokenizing your resources, please let us know