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Riccardo Spagni, founder of Tari.
THEProtocol of blockchain ocals Tari has collaborated with Big Neon for the American ticket office based in the United States to manage the sale of tickets through the Tari platform.
Tari is a blockchain protocol aimed at managing the issue and transfer of digital assets such as tickets, loyalty points, gaming items and cryptographic assets such as CryptoKitties.
The platform was launched at the beginning of the year by a local expert in cryptocurrency and principal developer of Monero, Riccardo Spagni, in collaboration with US investors Naveen Jain and Dan Teree.
Big Neon is the result of American technology and the Teree ticket industry pioneer, who was president of TicketWeb and a manager of Ticketmaster.
Through the partnership, Big Neon will use the Tari digital resources protocol to offer ticketing services to event promoters, helping them to manage the issue, sale and resale of tickets.
"Over the past five years, ticketing companies have been more interested in getting bigger than improving Big Neon aims to modernize tickets by offering the most powerful mobile tools and digitizing the entire ticketing process," says Teree.
"I think live entertainment technology and blockchain technology such as the Tari digital resource protocol are inevitably on a collision course, with blockchain-based management of digital resources, like tickets, event promoters will finally be able to regain revenue currently lost secondary market From my point of view, it is the biggest innovation in the field of tickets since the first ticket was sold online. "
While both the Big Neon protocol and the Tari blockchain are still under development, the Big Neon platform will be entirely open source. Global ticketing companies will be able to leverage the Big Neon base code to modernize their ticketing platforms, the company says.
Developers and entrepreneurs who are working on digital asset projects related to game items, collectible digital items and loyalty points will be able to use libraries, templates and code from the Big Neon code base.
Spagni says that event organizers and concert goers will be able to manage their events and accounts from their smartphones.
"Blockchain helps to demonstrate ownership of a digital asset, such as a ticket, and establishes rules on how such activity is purchased, sold and transferred, avoiding unauthorized ticket resale through secondary ticketing platforms, helping promoters maximize their revenues. "
According to the State of Blockchain 2018 PwC Survey, the interest of South African startups in blockchain is increasing, with many companies creating new businesses around technology.
According to the report, 84% of the 600 executives interviewed in 15 countries reported that their organizations were experimenting with blockchain technology. Another 15% said their blockchain implementations were already live.
PwC says research shows that local organizations fear to be left behind while blockchain developments are accelerating globally.
"We are seeing a rapidly growing interest in this space in South Africa, as start-ups try to create new activities around the blockchain and incumbents in all sectors are learning what blockchain will mean in their context," says Paul Mitchell, fintech and blockchain lead for PwC SA.
"The speed with which blockchain technology is adopted is unprecedented, indicating a growing recognition that this technology has profound implications in many areas, and we are observing the transition from a" startup idea to a consolidated technology in a fraction of time " he took to the Internet to be accepted as a standard tool. "
The IDC market analysis firm claims that global spending on blockchain solutions is expected to reach $ 2.1 billion this year, more than double the $ 945 million spent in 2017.
He added that blockchain spending will be led by the financial sector ($ 754 million in 2018). The distribution and services sector ($ 510 million in 2018) will also see strong investments, while the manufacturing and resource sector ($ 448 million in 2018) will be led by discrete manufacturing and process industries.
