Tech
Block and chain
James Morgan, founder of Event Tech Lab, takes a look at the
blockchain technology that’s been bamboozling event profs
W
ho’s heard of
blockchain? Do
you understand what it’s
about? I approached two
event professionals who
have invested in Blockchain
businesses to help out.
Martijn Timmermans,
partner and consultant
in Netherlands-based
blockchain consultancy
The Token Agency and Ru
Barksfield, co-founder of
Pynk the Blockchain and AI
investment app are going to
enlighten us.
First, a quick explanation
of what it is. Blockchain is
a decentralised, distributed
ledger technology that
became popular through
the Bitcoin cryptocurrency
platform. A blockchain is
a growing list of records,
called blocks, which are
linked using cryptography.
Each block contains a
cryptographic hash of the
previous block, a timestamp
and transaction data,
managed by cluster of
computers not owned by any
single entity. It’s the ultimate
trustworthy data source that
is resistant to changes. But
what can it do for events?
The main benefit so far is
that blockchain eliminates
ticketing fraud. The
blockchain ledger shows
where a ticket has been sent
from, and to, and at what
price. This could end touts.
If multiple tickets end up in
the hands of one user found
to be selling them illegally
then they can be ‘burnt’ and
re-issued to real fans. Apart
from tickets, which would
not be used at most trade
shows, blockchain has other
useful applications.
Timmermans highlighted
the user case of UK-based
Zapaygo. The blockchain
platform uses an app to pre-
order & pre-pay for services,
food and beverage or goods
to be delivered or collected.
It was successfully tested
at the NEC in 2018. The
service goes live in October
2019. Using the technology
for on-site purchases means
service efficiencies. The
visitor spends less time in a
queue because they can set
up their digital wallet on
their smart devices before
the show. They can then
make contactless payments
at the point-of-sale and have
peace of mind that their
data is secure. In addition,
the event organisers know
who spent their tokens on
what. New to the Blockchain
stable of cryptocurrencies
is Facebook’s Libra Coin.
This application would suit
visitors at consumer shows
who could pay for goods
and services to exhibitors
Facebook business pages
from personal accounts.
These are prime examples of
how blockchain can improve
events for both visitors and
organisers.
Barksfield highlighted the
how trust can be engendered
in an organisers or exhibitors
supply chain. For example, if
you are hiring chairs for your
conference in India and the
Google reviews say a suppler
is incredible, you’re more
likely to order from them.
However, Google reviews
and many other review
websites have been gamed.
You can trust blockchain to
solve this issue because the
technology can make sure
that reviews only come from
real people and provide you
with detailed information
about those reviews.
Another feature of
applying Blockchain is in
identity verification. The
implementation of the
GDPR means better identity
management protocols.
Because Blockchain
technology also addresses
one of the biggest concerns
of exhibitions – identity
verification – identity data
is secure and cannot be
corrupted. Organisers can
go further on identifying
visitors. They can verify
visitor numbers and know
that the reporting on who
has registered and attended
are 100 per cent accurate.
But there is a caveat on
how blockchain will be
implemented. Timmermans
thinks that there is a lack of
awareness in the industry
on how blockchain works.
Getting heads around the
security and verification
features is paramount to
get investment into the
technology, and not just
for ticketing. He advocates
that associations such as
UFI, the Joint Industry
Meeting Council and other
organisations play the
important role as educators
in introducing blockchain
‘thinking’ into their
management ideologies.
July — 35