Aventus is a global open standard for the exchange of tickets http://aventus.io/.
Its blockchain-based platform eliminates uncontrolled resale and counterfeit tickets. It allows event organisers to create, manage and promote their events and tickets with dramatically reduced costs, even letting them set price controls and receive commissions on ticket resales. It also gives ticket buyers rewards for promoting events, and identifying fraudulent activity.
The Aventus Protocol resolves the difficulties through the following:
1. Secondary Market Control:
• Tickets have an identity associated with them.
• Owners reselling their tickets in the secondary market do not know to whom they are selling their ticket.
2. Blockchain Security.
3. Promotion and Platform Cost Reduction.
A ticket is defined by 3 parameters:
1) Category: This determines when primary ticket sales start and end, whether the tickets can be refunded and if they can be resold (along with what the price floors, ceilings and event-creator commissions would apply to the resale). The category can be as general or specific as desired (for example "food", "early-bird entry", or "D-Block Stadium Seats").
2) Sub-Category: This determines the price of the ticket, such that its specificity should be proportional to how finely-grained the event-creator wishes to make the pricing. For example, if each seat in a stadium should be priced differently but sold at the same time, each sub-category would be a seat and the category would be "Stadium Seats".
3) Number: This is the quantity of tickets issued at the sub-category’s given price. Using the example above, if each seat was priced differently there would only be 1 per sub-category.
The 3 parameters above give a unique definition of any type of ticket, including any stadium seating arrangements and pricing mechanism. All tickets are validated in the same way: at the point of purchase the buyer must upload a representation of their identity which the ticket will have referenced to. When the buyer attempts to redeem the ticket (exercise the ’right of access’ conferred by the ticket), the validator will scan the ticket and ensure that the uploaded identity matches the name, face, ID or credit card of the person presenting the it.
The primary component handles all primary market ticket sales. There are three ways a ticket category can be sold:
• Face value: It may be sold at a pre-set value determined by the event’s organiser.
• Auction: It may be auctioned off, where the highest bids receive the tickets.
• Dynamic: It can be priced based on changes in demand, in order to maximize revenue per seat. Real-time prices are determined according to the quality and quantity of the tickets and demand for the event. These prices will be determined a layer above the Aventus Protocol and input via oracle.
Once a purchase succeeds, a name, identity document number, credit card number or a photo of the owner is associated with the ticket as a means of proving identity. This is so that private keys to accounts holding tickets cannot be sold on an off-chain website, thus resulting in a secondary market which is not susceptible to this type of exploitation by the event’s creator. All ticket prices are denominated in fiat currency and a market-price oracle determines the cost in token AVT at the time of purchase.
It should be noted that none of this data is stored in plain text on the blockchain.
Names, identity documents and credit cards are first hashed and then stored. When a ticket holder shows up the event, the physical identity item is checked against the hash stored in the blockchain. Images of faces are encrypted and stored on IPFS and the IPFS hash is stored on the blockchain. At the event the ticket holder presents their ticket which has the decryption key for the photo encoded into it, which is used to decrypt the image and subsequently the facial comparison is made.
The Aventus protocol token AventCoin is essential for aligning the economic incentives of participants such and for ensuring that minimal fraud occurs in the system. Its main purposes are:
1. To provide an incentive layer to enable self-regulation of the Aventus Protocol. This refers to stake-weighted voting mechanisms for the Aventus Community to determine:
a) Legitimate apps/DApps using the Aventus Protocol so that event organisers and ticket buyers are not taken advantage of;
b) Legitimate events on the Aventus Protocol) so that apps/Dapps do not lose users by selling tickets for fraudulent tickets;
c) Aventus Protocol algorithm parameters that determine important fees in the system such as the event-creation fee, so that the protocol can constantly evolve to remain competitive.
2. To reward early adopters of the Aventus Protocol, thereby enabling it to benefit from network effects. Network effects apply to the Aventus Protocol since as the number of events using it grows, the greater value it has to third party applications.
TOKEN SALE WILL START AT September 6th - 13th.
With a minimum cap: $6 million, target raise: $15 million.
Total supply: 10,000,000 AVT. 60% (6,000,000 AVT) will be sold in the token sale.
Read more:
https://bitcointalk.org/index.php?topic=2047321.0
https://twitter.com/aventussystems
happy weblancer https://bitcointalk.org/index.php?action=profile;u=1057545
