Dual-Token Blockchain Ticketing for Admission Efficiency
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Solution Overview
Problem
Blockchain-based ticketing systems face delays in processing and verifying transactions, leading to inefficiencies and potential fraud, especially during large events where thousands of attendees require quick admission, compromising consumer satisfaction and profit margins.
Innovation Solution
Implementing a dual-token system where a demand token represents ownership rights and an admission token represents the right to attend, allowing for faster processing and verification without compromising security, with the admission token being non-transferable and processed independently of the blockchain.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If transactions are processed through blockchain verification, then transaction security and integrity are maintained, but processing speed and admission efficiency deteriorate
Solution Approach 1:
The patent segments the token system into two distinct types: demand tokens for ownership transfer (processed on blockchain) and admission tokens for event access (processed offline). This segmentation allows security-critical ownership transfers to use blockchain verification while speed-critical admission checks use fast offline verification, resolving the contradiction between security and efficiency
Solution Approach 2:
The patent introduces admission tokens as an intermediary mechanism that bridges blockchain ownership verification and offline admission processing. The admission token contains verified ownership information that can be quickly validated without blockchain delays, acting as a mediator that maintains security while enabling fast admission
2Reliability
If all tokens are processed on blockchain, then transaction transparency and security are ensured, but processing time and system load increase
Solution Approach 1:
The patent divides token processing into two segments: demand tokens processed on blockchain for transparent ownership records, and admission tokens processed offline for rapid verification. This segmentation reduces processing time for admissions while maintaining blockchain transparency for ownership transfers
Solution Approach 2:
The system performs preliminary blockchain verification to generate admission tokens before the actual admission event. This preliminary action transfers the time-consuming verification work to occur beforehand, allowing fast offline validation during the actual admission process
Data Source
AI summary
Methods, systems and products for enabling one or more nodes of an electronic ledger platform to carry out operations with respect to one or more records in the electronic ledger platform. The operations include receiving an indication to exchange a first token of a first type with a second token of a second type, the indication being authorized by a first entity, the first token associated with ownership information and comprising activity information, the ownership information indicating that the first token is owned by the first entity and the activity information indicating a first activity, and wherein the ownership of the first token is transferable to other entities over the electronic ledger platform based on the ownership information associated with the first token; generating the second token, in response to the receiving of the indication, the second token associated with the ownership information and comprising admission information.