The Resurgence of Ticket Scalping
Jay Chou’s recent concert at Taipei Arena caused a frenzy among fans, with tickets selling out within 15 minutes. Disappointed fans were left lamenting as scalpers resold the tickets at prices exceeding ten times the original price.
The following day, concerns about scalpers resurfaced as fans worried about ticket availability for Lisa’s fan meeting. Although Taiwan’s current regulations encourage real-name ticket sales, the lack of mandatory enforcement and the difficulty in reporting have hindered effective implementation. Legislators from both the ruling and opposition parties once again called on the Ministry of Culture to strengthen control over scalpers, emphasizing the need for more concrete solutions as the existing policies have proven ineffective in curbing scalping.
Wang Zhiqing, a technology expert and the Chief Digital Officer of LeadBest, which has been assisting domestic and foreign ticket vendors in the blockchain ticketing market for years, expressed his views on this matter through social media. He stated, “Depending solely on legal amendments or fines may be time-consuming. Digital technological innovations are the effective solution to suppress scalping.”
Wang emphasized that scalping has long been a chronic problem in the Taiwanese market, and it requires effective control through technological means.
How does the ERC-7439 smart contract protocol become a solution?
Wang explained, “The characteristics of blockchain tickets include decentralized computation, transparency, and no overselling issues. ERC7439 has additional features such as the ability to set whether the secondary market is transferable, a whitelist for secondary market resale, and the implementation of management rules based on demand.”
LeadBest proposed the ERC-7439 smart contract protocol for ticket reselling by the end of 2022, which has been approved by the Ethereum Foundation as a global standard. This technology allows for the establishment of transparent and open rules in ticket transactions, effectively blocking scalpers and safeguarding consumer rights and the interests of ticketing platforms. Related ticketing technologies have also been successfully applied at this year’s WebX, the largest blockchain summit in Tokyo, Japan.
The scalping issue is not something that can be resolved overnight, and the government has long been struggling to find a solution due to the vague legal framework. This has only worsened the problem, with public outrage erupting whenever there are popular events. The LeadBest team urges the government to swiftly introduce digital applications, incorporate blockchain technology into ticket management, and establish a comprehensive regulatory mechanism that combines legal standards and technological innovations. This will truly protect consumer rights, promote fair competition, and facilitate the healthy development of the entertainment industry.