At the Blockshow Europe 2018 conference in Berlin, we had the pleasure of speaking with Robert Stanley, community manager and head of business development at Based Global, a company that provides event ticketing on blockchain to prevent scalping. It’s an upcoming ICO that will be announced soon.
CV: Tell us a little bit about your platform.
RS: We’re in the game to change the ticket selling problems of the world. In music, there’s a lot of scalping, secondary sales and whatnot and we’re there to solve this.
CV: How do you do this?
RS: We believe there’s a potential in blockchain technology and we can actually use smart contracts to re-evaluate who controls the tickets. We talk to tour organizers, or we talk to artists themselves.
CV: How does this prevent ticket scalping?
RS: Well, if you then create a ticket on a smart contract and say that there are no secondary sales, then you’re going to have supporters coming to artists and their management, and get over the essential problem. The first point is to get the artists and management into the idea that this is the way to solve the problem.
CV: So, let’s say I buy a ticket right now, and I decide I want to sell it at a markup?
RS: The original person has the ticket, they bought the ticket, their ID is with us. And if there is a no-sale attachment to the smart contract, then the problem is solved. Why we want to do this is not to kill secondary sales. We want to hand control back to the artists. As an idea, if a ticket is 50 Euros, the artist reads this and he says, “Okay. If you want to resell my ticket, and it goes over 100 Euros, then all profits and extra money goes to charity.” So, the person that controls that ticket makes the decision.
CV: Do you have a working product out right now?
RS: We’re working on it. We’re getting close. I’d say, potentially, it’s going to be in the end of June going into July. That is the plan for the ICO. At the same time, we want it to come together with the White Paper as well as the demo so then we can push out both at the same time so it can make sense with the ICO.
After The Conversation
We had a chance once again to speak to Based Global, this time with Benjamin Bendig, the CTO and co-founder. One of the users in the ICO’s group asked him about the prototype and he touched upon some subjects, such as switching blockchains.
“We started on ETH and had a few working contracts there already, but then we decided to go with EOS,” he said.
After a bit of intrigue, we asked him when the EOS migration came along.
“We realized we want our app to be used in real life this year, so we needed something that would scale this year. That’s why early April it was decided to ditch Ethereum (great scaling ideas on the roadmap, but you never really know when they’ll go live) and go with EOS. There are other reasons too. No transaction fees, for one, which would be pretty bad for what we want to achieve,” Bendig concluded.
This article appeared first on Cryptovest
