What is blockchain technology? A brief introduction
A blockchain is a decentralised digital register. Transactions or information are stored in blocks, which are linked together to form a chain. Each block is then cryptographically linked to the previous one, forming a chain. Rather than being stored centrally on a single server, this chain is distributed across many nodes in the network. Once information has been entered, it cannot subsequently be changed without this being visible throughout the entire system. This property makes the blockchain particularly secure against manipulation.
tamper-proof ticket processing
One of the biggest problems for event organisers is the black market for tickets. Not only do counterfeit tickets cause a loss of revenue, they also damage the reputation of an event. Blockchain technology allows tickets to be clearly assigned to an owner, and their status can be checked in real time. Each ticket purchase is recorded as a transaction on the blockchain and can be traced by all parties involved. This history is retained even if tickets are resold. This enables event organisers to verify the validity of tickets and prevent duplicate redemptions or illegal copies.
Decentralised and secure data
In addition to ticketing, blockchain technology is also proving to be a promising tool for data security. Personalised access data, verification information and payment details can be stored on a blockchain in such a way that they cannot be read by outsiders, but can clearly be viewed by authorised individuals. As no centralised body has access to all the data, the risk of a massive data leak is reduced. Decentralised and encrypted storage of information such as name, address or payment data also makes identity theft more difficult.
Will all tickets soon be digital and stored on the blockchain?
Building trust through transparency
Trust is essential for events. This applies to both participants and organisers. Blockchain technology can facilitate this. For example, in the case of online conferences or hybrid events, the technology can be used to verify participants without their personal data becoming public. Blockchain also provides a traceable foundation for billing, licences, and logistics processes for intricate event formats involving multiple partners. Every action in the system is fully documented and can be examined in the event of a dispute.
Smart contracts as a tool for automation
Another advantage is that blockchain technology enables smart contracts. These are self-executing contracts stored on the blockchain. As soon as the defined conditions are met, the contract is implemented automatically. In ticketing, for instance, this means that a purchase only becomes final once payment has been successfully processed and the ticket has been clearly assigned to the new owner. Refunds for cancelled events can also be processed automatically and transparently.
Possible applications in event practice
Many blockchain solutions for the events industry are still in the development or pilot stage. Nevertheless, there are already some practical applications. For example, some ticketing platforms use blockchain-based systems to enable a secondary market with fair prices and guaranteed authenticity. Blockchain wallets are also being used at music festivals to allow visitors to make cashless payments, manage tickets, and collect NFT-based souvenirs. In the trade fair sector, the technology is of interest for digital access controls and exhibitor contracts.
The challenges and limitations of blockchain technology
Although blockchain offers great potential, it is important to recognise the current challenges. One of the most common criticisms is its energy consumption, particularly for publicly accessible blockchains with a proof-of-work mechanism. However, many event-based solutions rely on more energy-efficient alternatives, such as Proof of Stake. The technical complexity can also act as a barrier to entry. Blockchain systems are not always easy to implement for event organisers without an IT department. In addition, the current lack of uniform standards and interfaces makes integration into existing ticketing or administration systems more difficult. Finally, legal issues relating to data protection and contractual validity must be clarified, particularly if personal data is processed in a decentralised manner.
An outlook: Blockchain as part of the future of events
Despite these challenges, it is clear that blockchain technology has the potential to transform the events industry in the long term. If you are looking to enhance security, transparency and trust through technology, blockchain is a highly versatile tool. It can simplify processes and minimise risks, particularly for large-scale events involving significant ticket sales and complex partner structures. However, it is important that technical solutions are user-friendly and accessible to smaller event organisers. Only then can the full potential of blockchain technology be realised.
