Oakland Athletics MLB team has sold a suite season ticket for Bitcoin for the first time

Oakland Athletics MLB team has sold a suite season ticket for Bitcoin for the first time

The A’s become the first team in Major League Baseball to sell tickets for cryptocurrency.

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Major League Baseball team Oakland Athletics has sold their first crypto-purchased season ticket less than three weeks after first offering them.

The Oakland A’s, as they’re colloquially called, introduced an offer on March 15 enabling fans to purchase suite tickets with Bitcoin.

On Wednesday, March 31, the San Francisco East Bay ballclub announced that the buyer was New York-based publicly traded crypto asset platform Voyager Digital Ltd. The fintech firm purchased a six-person suite for all of the team’s 2021 home games for the price of one Bitcoin, or approximately $58,500 on the day.

Six-person private suites for individual games are on sale for around $600, and the official price for the suite for the entire season is currently more than that of a single Bitcoin at $64,800 according to the official website.

The purchase has become a milestone for the A’s as they become the first team in Major League Baseball to sell tickets for cryptocurrency. Team President Dave Kaval congratulated the buyer, stating:

“Cryptocurrency is a viable and tangible currency model, and we know other forward-thinking companies and individuals will join Voyager in using this payment for ticket purchases.”

Voyager co-founder and CEO Steve Ehrlich stated that the firm has close ties with outfielder Stephen Piscotty and that the suite will be shared with its customer base in the Bay Area and beyond.

In an earlier interview on Friday, March 26, Kaval stated that the team would be hodling any BTC made through ticket sales, adding:

“We’re believers in [Bitcoin] and hopefully it continues to go up and maybe we can find some big free agents with some of the proceeds.”

Fans can still buy a full-season six-person suite for one BTC until Thursday, April 1 according to the team’s official channels.


Zur Quelle
[/ihc-hide-content]

The A’s become the first team in Major League Baseball to sell tickets for cryptocurrency.

Advancing Blockchain Act: The US Ticket for Blockchain Superiority

Advancing Blockchain Act: The US Ticket for Blockchain Superiority

The Advancing Blockchain Act could allow the United States to join other major players at the cutting edge of blockchain technology.

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Governments worldwide are reaping the benefits of blockchain integration within a number of fields. As Dubai deploys blockchain as part of its smart city initiative, citizens of Georgia interact with the technology to register and transfer land titles. It takes three minutes to register a title, and the blockchain framework behind it enables security, longevity and transparency — qualities that go a long way in restoring people’s faith in their governments.

Elsewhere in the world, South Korea’s customs service employs blockchain for the import and export of goods. The United Kingdom has piloted the technology to track the origin and distribution of cattle meat. Switzerland has tested blockchain identification and voting systems. China alone has registered hundreds of blockchain projects, with $1.6 billion in governmental funds set aside for blockchain initiatives.

The list goes on and on. Around the world, governments are rapidly experimenting with and deploying blockchain to improve efficiency, secure platforms and promote transparency in areas such as supply chain management, identification, titles, bookkeeping, energy consumption, voting and more.

The United States, however, represents one such government that continues to lag behind its innovative counterparts.

Pushing forward via the Advancing Blockchain Act

The Advancing Blockchain Act is a bill proposed by Rep. Brett Guthrie, a Republican from Kentucky. It is the third blockchain bill introduced by Guthrie, following the Blockchain Promotion Act of 2018 and the Blockchain Promotion Act of 2019, both of which stalled. If passed, the bill would initiate a comprehensive survey of blockchain technology and compile a report with legislative recommendations to promote the growth and adoption of blockchain, address regulatory barriers and advance the U.S. as a global leader in blockchain technology.

While private-sector adoption of blockchain technology has been slowed by regulatory uncertainty, government agencies have explored it for innovative use cases. The Food and Drug Administration launched a pilot that utilizes blockchain for tracking and authenticity verification of subscription drugs, and the Air Force deployed a solution for supply chain security.

There are five definitions of cryptocurrency in the U.S. alone and no distinct taxonomy for the various digital assets created by the cryptocurrency industry. This lack of regulatory clarity makes it harder to raise capital and forces startups to disproportionately spend what they do raise on legal expenses. Blockchain startups throughout the nation are moving offshore to countries with distinct regulatory clarity such as Singapore and Switzerland.

Related: Why Is the US Not Yet a Leader in Crypto Regulation? Experts Answer

Should the Advancing Blockchain Act pass through Congress, an expansive survey on the benefits of blockchain and the successes of other nations will be conveyed to it.

The report would create urgency to provide clear regulations that will enable the U.S. to retain and grow its blockchain industry.

Cryptocurrency firms have actively engaged with politicians and regulators for years to work toward clarity in law and effective consumer protections. The Advancing Blockchain Act is something the crypto world cannot afford to sit on the sidelines for. Without strong advocacy, this bill is likely to be denied a hearing. This bill represents a wake-up call and rallying cry for innovators in the public and private sectors to band together, not only to catch up with but also to succeed against their global counterparts in the “blockchain race.”

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Ben Weiss is the chief operating officer of CoinFlip. Ben leads a team of 40 employees and has overcome the logistical challenges of building out CoinFlip’s ATM network infrastructure from the ground up. Under Ben’s leadership, CoinFlip has experienced exponential growth and profitability, all without ever needing to raise external funds. Ben graduated from Vanderbilt University with a degree in economics and is a trustee of the New Jersey Blockchain Coalition and a board member of the Blockchain Advocacy Coalition. He’s looking forward to watching the crypto space evolve from a niche industry to a global force.


Zur Quelle
[/ihc-hide-content]

The Advancing Blockchain Act could allow the United States to join other major players at the cutting edge of blockchain technology.

Ticketmaster Wants to Use Smart Contracts to Support Millions of Ticket Sales

Ticketmaster Wants to Use Smart Contracts to Support Millions of Ticket Sales

Ticketmaster discusses plan to use smart contracts to support millions of tickets during ELEV8CON

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Speaking at Elev8CON in Las Vegas on Dec. 9, Ticketmaster’s vice president of blockchain products Sandy Khaund discussed the value smart contracts can bring to the ticketing industry, a market expected to reach over $6.23 billion by 2025.  

Khaund emphasized the notion that ticket providers should consider treating tickets like smart contracts in order to create scalability, seamless integration with other service providers and extensibility for new revenue opportunities.

“Our goal is to support 400–500 million tickets using smart contracts and blockchain technology,” Khaund said on stage.

Earlier this year, Ticketmaster announced that it sold 73 million concert tickets, generating over $4 million dollars worth of revenue. According to Khaund, Ticketmaster is responsible for 475 million tickets per year. 

As this number continues to increase, Khaund explained that Ticketmaster is focused purely on the business value blockchain can bring and understanding how to bring that to customers.

“We want fans to get more value out of their tickets, while ensuring that tickets end up in the right hands. Blockchain is the only technology that can do this by using smart contracts to digitally define the ticketing industry,” said Khaund.

Smart contracts are self-executing contracts with the terms of the agreement between the buyer and seller written into lines of code. The code and agreements contained on smart contracts exist on a blockchain network, making transactions trackable and irreversible.

Ticketmaster initially started thinking about applying smart contracts to tickets last year, after it had acquired Khaund’s previous company, Upgraded. Ticketmaster has since planned to use Upgraded’s blockchain technology to digitize tickets into interactive units that function through encrypted barcodes to protect and improve the ticketing process.

“Ticketmaster has technology that is almost 40 years old. Using smart contracts on a blockchain network creates a unique system for Ticketmaster by writing code for each ticket we sell. We run this over a private blockchain network to ensure privacy and optimization around tickets,” said Khaund.

The Pearl Jam use case

To explain how this works, Khaund described a recent use case performed by Ticketmaster using smart contracts. Dubbed the “Pearl Jam” use case, Khaund mentioned when Pearl Jam performed a series of hometown shows to help raise money for homeless populations. He noted that Pearl Jam wanted to charge $150 per ticket, which became problematic when those tickets were being sold for well over that amount.

“Some people wanted to pay more than $150 per ticket, even though they were purchased at this price. We needed to make these tickets non-transferable, so we gave out two tickets. The first went to the issuer and couldn’t be transferred. The second ticket could only be transferred once. We were able to do this in 15 minutes once we wrote a smart contract for this use case, which contained an overriding function around transfers, along with a transfer counter,” explained Khaund.

While this use case is impressive, Khaund also stated the importance of using blockchain without having people realize that it’s being utilized.

“We want people to like our products. It’s not about the technology for the end-users.”

In order to continue to drive blockchain adoption, Khaund noted that Ticketmaster is focused on three main goals moving forward — integration, performance and extensibility. 

“Our job is to make sure the integration process for tickets is seamless with other systems, like SafeTix. We also plan to support millions of tickets that won’t cause lag time for customers. Finally, we plan to make tickets smarter. This technology is programmable by nature and we need to continue coming up with creative use cases.”


Zur Quelle
[/ihc-hide-content]

Ticketmaster discusses plan to use smart contracts to support millions of tickets during ELEV8CON

Broadway’s Biggest Ticket Operator to Use IBM Blockchain Against Scams

Broadway’s Biggest Ticket Operator to Use IBM Blockchain Against Scams

Broadway’s largest ticket operator, the Shubert Organization, has partnered with a blockchain startup to verify ticket authenticity

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

Broadway’s largest ticket operator, the Shubert Organization, is integrating a blockchain solution into its business in a forthcoming pilot targeted at combating ticket fraud.

The organization, via its Telecharge and Shubert Ticketing division, has partnered with Boston-based startup True Tickets, which offers an IBM blockchain-powered mobile ticketing solution. News of the partnership was revealed in an Oct. 16 report from Fast Company.

Combating ticket fraud with blockchain

True Tickets, which was selected to take part in this summer’s inaugural Broadway Tech Accelerator, will see its digital ticketing service integrated into components of the organization’s ticket sales businesses, including Telecharge.com and its group discounts service Broadway Inbound.

True Tickets CEO Matt Zarracina has said the pilot enables the startup to implement its blockchain solution for the benefit of clients as part of a “massive multichannel marketplace.”

As Fast Company notes, Broadway — as many entertainment industries — is plagued by ticketing scams, such as the resale of fake or duplicate tickets. Therefore, it is hoped that blockchain can go some way toward restoring transparency for businesses and consumers.

Prior initiatives

In fall 2018, Cointelegraph reported on the acquisition of blockchain-focused live events firm Upgraded by global ticketing giant Ticketmaster. At the time, Ticketmaster said it planned to digitize traditional tickets into interactive units protected by blockchain technology via encrypted barcodes in a bid to combat fraud.


Zur Quelle
[/ihc-hide-content]

Broadway’s largest ticket operator, the Shubert Organization, has partnered with a blockchain startup to verify ticket authenticity

Blockchain Platform Believes It Is the ‘Golden Ticket’ for Saving the Live Events Industry

Blockchain Platform Believes It Is the ‘Golden Ticket’ for Saving the Live Events Industry

Do you think event tickets are too expensive? This blockchain platform might have the answer — and it involves eliminating middlemen who drive up prices #SPONSORED

[ihc-hide-content ihc_mb_type=“show“ ihc_mb_who=“reg“ ihc_mb_template=“1″ ]

A new blockchain-based platform says it has bold plans to transform the events industry — eliminating middlemen to reduce costs for organizers, promoters, entertainers, suppliers and consumers alike.

Evedo argues that the sector’s scalability has been dramatically affected by a “lack of innovation” in the way events are organized. A multitude of platforms are often used to bring concerts and conferences to life, causing unnecessary delays and sometimes resulting in costly mistakes. In addition, the startup says the industry is riddled with middlemen who often charge large fees but “do not add value to the process” — occasionally resulting in “fraud and significant losses.”

In its white paper, the company illustrates the real-world consequences that fragmentation in this industry can bring. Ticket prices can soar because of secondary black markets, inefficient systems can mean that tickets are duplicated, payments to top talent can be delayed, and organizers can face an uphill struggle as they look for new venues and sponsors.

Three core values

Evedo says that it prides itself on its three core values of “trust, creativity and empathy,” and believes that its infrastructure can help those working behind the scenes on major events achieve creative and exciting results, all while reducing the amount of time and effort they spend on realizing their vision.

Its business-to-business (b2b) marketplace aims to connect organizers with the contractors and sponsors who can get their event off the ground — empowering them with the ability to easily compare fees and reputations so they find the perfect partner. Agreements would be bound by smart contracts, paving the way for automated payments whenever key milestones are reached. A “single point of workflow” would also make it easier for organizers to keep track of how their vendors are progressing in real time, meaning there is less to panic about in the stressful run-up to the big day.

Evedo is available here

In explaining how its infrastructure works, Evedo’s white paper adds: “The B2B platform is designed as an effective search engine where the event organizer can find all resources, partners and suppliers by listing the detail regarding their planned event. The event organizer can browse and filter by multiple criteria such as dates, type of event, expected number of attendees, specific technical equipment requirements, logistics, hotels, staff needed on site, advertising and media coverage.”

Evedo says that it plans to “fine-tune” this search engine further by collaborating closely with early adopters, responding to their feedback and finding innovative solutions by applying its “deep industry knowledge and experience.”

The golden ticket to a slick event

The startup’s offering is going to be complemented by a business-to-consumer platform that is designed to weed out the problems associated with buying and selling tickets. Evedo says the goal is to end the “money leeching activities of unwanted ticket bots and scalpers” by ensuring that issuers remain in full control of the number of tickets sold.

Evedo says blockchain technology can help verify transactions more effectively, delivering savings for organizers and attendees alike. The platform also believes that venues would also see their profits rise, as lower ticket prices would result in a greater number of events to cater to rising demand.

“Unlike existing platforms that take commissions that cut into event’s bottom lines, we are basing our business model on revenue streams such as advertising. This is what makes it possible for us to sell tickets with 0 percent commission,” its white paper adds.

The Bulgarian blockchain venture has an ongoing initial exchange offering via BitForex for EVED tokens, a utility token that is used by the platform’s infrastructure. So far, the project has raised the soft cap of the token sale and is hoping to raise $2.5 million to further develop its product.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.


Zur Quelle
[/ihc-hide-content]

Do you think event tickets are too expensive? This blockchain platform might have the answer — and it involves eliminating middlemen who drive up prices #SPONSORED