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Episode 6: How blockchain is shaking up the ticketing industry

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Giving control back to ticket holders and venues

This week on IBM Blockchain Pulse, your host, Matt Hooper, is exploring the current ticketing industry and how blockchain is really shaking things up! He will be speaking with two of the people behind the hot, new, and exciting ticketing start-up: True Tickets. True Tickets is helping provide digital customizable rights management for digital tickets to the ticketing issuer.

Through blockchain, they are providing a scalable and secure digital ticketing experience while integrating with existing ticketing platforms and customer relationship management (CRMs). The goal? Making buying, selling, and transferring entertainment tickets simple and safe!

What’s your potential blockchain ROI?

The guests of the episode are Matt Zarracina, the co-founder and CEO of True Tickets; and Ken Lesnik, the Head of Business Development. They discuss how they met, how they first got True Tickets off the ground, where they got their first round of feedback, who their customers are and what their ultimate goal is. In the conversation they also cover what it has been like to partner with IBM Blockchain and how they are helping to replace the PDF, print-at-home ticket with a blockchain-enabled solution for the ticketing market.

Key takeaways

[:01] About today’s episode and guest!

[1:38] Guests Matt Zarracina and Ken Lesnik introduce themselves.

[4:20] How did Matt and Ken originally meet? What led Ken to join the team?

[6:18] What happened between the fall of 2017 and when Matt met Ken and how was he able to show him that he was revenue-generating an already baked platform business?

[8:41] How did True Tickets get their first round of feedback?

[11:20] Who are True Tickets’ customers? What is their ultimate goal?

[12:45] What was the experience of the IBM partnership like back in the fall of 2017? Had they been considering other partners to work with?

[17:30] What does Matt mean when he says: “Blockchain is not plug-and-play; it’s almost always bespoke.”?

[18:55] IBM may bring gravitas to the company, but how many folks are they dealing with day-to-day, now that they’re providing a B2B solution? How many of them care about the backend of things?

[20:31] How True Tickets is helping to replace the PDF ticket with a more efficient and secure solution.

[24:45] Is perishable inventory something people are concerned about? For example, is True Tickets helping provide a solution for venue owners struggling with the “butts in seats” problem?

[27:00] Is there a potential secondary business in all this data True Tickets is collecting?

[32:35] What does it mean to be a start-up built with IBM Blockchain? And what has it been like to build a small company in collaboration with one of the world’s largest technology and consulting companies?

[39:05] Matt thanks Matt and Ken for joining him this episode!

Sources mentioned

True Tickets
B2B
The Founder’s Handbook: Your Guide to Getting Started with Blockchain

Follow-up with our guests

Matt Zarracina’s LinkedIn
Ken Lesnik’s LinkedIn

Looking for more episodes?

Visit IBM Blockchain — and for news and updates, follow @IBMBlockchain on Twitter!

Tweetables – For social media

“It doesn’t take long to see that ticketing … is one of those areas where everyone who really starts to understand blockchain sees an opportunity [in it].” — Matt Zarracina

“Blockchain is not a product; it’s an enabling technology. It’s a part of a solution. And … how we’re building [True Tickets] is it’s a piece. … It’s not the engine [or a] blockchain application. … We’re providing a business solution to … ticketing.” — Matt Zarracina

“A big part of what we’re doing now is helping to replace the pdf, print-at-home ticket with this digital [solution].” — Ken Lesnik

“[With True Tickets] you’ve got integrity with the record keeping. You know who owns that ticket every step of the way during the lifecycle of the ticket — from the purchase to the butt in the seat..” — Ken Lesnik

“That’s, I think, the biggest thing that we’ve done in this solution — is really taking it so that you can’t copy that QR code and you always know who had what ticket at what time. And … that understanding is key for the venue.” — Ken Lesnik

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