• Bg Chatsworth House Library

Workshop: Blockchain & cryptocurrencies

Workshop: Blockchain & cryptocurrencies

Hosts: Katerina Kirillova, Cryptotickets (UK) | Tickets Cloud (RU)
& Karim Fanous, Abbey Road Red (UK)

“Imagine you’re an artist. You wake up in the morning in an electric bus driven by AI, dial into your dashboard and say, ‘Where am I going to play today?’" was the scenario evocatively painted by Karim Fanous at the start of a packed-out session on one of 2018’s hottest topics: how blockchain technology and cryptocurrencies can transform the live business.

One way that such a scenario might play out in the not-too-distant future, Fanous said, was that a series of smart contract interactions on a blockchain system would call up data on everything from where music sales are strongest in the local market to the current price of fuel. It would then not only automatically route your next gig, but also drive you there as well.

“That may not necessarily be the way that we use this technology, but these things will be made possible by combining artificial intelligence with smart contracts and blockchain technology,” Fanous told delegates during an informative and highly interactive panel that saw a great many questions from the floor on the intricacies of blockchain systems.          

Joining Fanous was Katerina Kirillova, co-founder/strategy and development director at Tickets Cloud/crypto.tickets, which broke new ground last year when it partnered with promoter TCI to sell tickets for a Kraftwerk concert in Moscow via its ethereum-based crypto.tickets platform.

“Blockchain brings power back to promoters and can eliminate scalpers out of this equation”

Outlining the technology’s benefits, she said that utilising decentralised blockchain systems could help artists and event organisers prevent counterfeiting, improve security, and combat the secondary market, while offering a convenient and personalised ‘smart ticket’ product for concert goers.

“For the ticketing industry, blockchain is a salvation,” claimed Kirillova, who explained that crypto.tickets ‘smart ticket’ solution features a dynamically changing code that’s impossible to copy or pass on. “Blockchain brings power back to promoters and can eliminate scalpers out of this equation,” she said, citing its ability to monitor every transaction in a ticket’s life cycle via the blockchain.

Responding to what she light-heartedly called “a very provocative question” from the floor about whether Ticketmaster was building its own blockchain ticketing solutions - or if they were trying to stop competitors from using them - Kirillova said that it would “not be a good idea” for the ticketing giant to oppose the technology as “it brings a lot of value for them also.”  

“We don’t want to disrupt the industry,” she vowed. “We want to improve it. We can provide the technology that makes the industry more controllable and gives our customers, the people who actually come to events, a better experience.”