The Product & Marketing Manager for TIXNGo, Pierre Etter, solves any doubts about this secure mobile ticket wallet that is improving the ticketing industry.
“The TIXNGO wallet, which can be plugged into any existing ticketing system, helps combat fraud, digitalize the fan experience and improve venue security.”
This interview is your opportunity to know in detail which are the origins of TIXNGO, how the platform works, what makes it so different, how fraud is significantly reduced and how to combat the black market.
Q: What exactly is TIXNGO?
“TIXNGO’s secure mobile ticket wallet is a game-changer for event organization and ticketing solutions. The platform leverages the latest in mobile, blockchain and AI machine learning disruptive technologies. The system eliminates fraud, boosts agile operations and security, and uplifts data and fan experience. Millions of tickets have been securely distributed worldwide and exchanged through TIXNGO’s marketplace solution, including tickets for some of the world’s biggest sporting events. The secure wallet system can integrate with existing apps through the TIXNGO API or it can be accessed through the TIXNGO native or branded app. TIXNGO has been endorsed by Gartner (The Real Business of Blockchain, Harvard Business Review, 2019). TIXNGO is based in Lausanne, Switzerland. It is part of the ELCA group and is a sister brand of the SECUTIX ticketing company. For more information visit tixngo.io.”
How exactly does the platform work?
“TIXNGO is a groundbreaking ticketing solution using blockchain technology to create secure mobile tickets. The TIXNGO wallet, which can be plugged into any existing ticketing system, helps combat fraud, digitalize the fan experience and improve venue security.”
Q: Why is your product more interesting than others on the market?
“Thanks to our membership with the ELCA Group, the Swiss leader in IT solutions since 1968, and our sister brand SECUTIX, which has been active in ticketing solutions for 17 years, we have a considerable lead in knowledge, maturity, experience and major customers in the ticketing market.”
Q: What is its added value?
“Our goal is to curb fraud through the TIXNGO digital mobile portfolio. The sale and resale of tickets in parallel markets is a major problem for cultural and sports organizations, which see their revenue disappear to the benefit of these illegal sales methods. Confronted with an economic context that is particularly difficult to guarantee control of their sales channels without failure, this is becoming a priority issue. The TIXNGO wallet is an adequate response to fraud and counterfeiting and makes it possible to generate unique, encrypted and traceable banknotes. For example, at the Paléo festival, for which we are working, nearly 10% of ticket sales were made via the black market, with a selling price of around 150% of the real value of the ticket. Out of 230,000 tickets at US$73, this represents US$2,518,500 for the black market. It is because TIXNGO combines the best of new technologies (mobile + blockchain + artificial intelligence (AI) machine learning) that we are able to position ourselves as an effective and proven solution to combat the security problems associated with online ticket sales.”
Q: Who are your customers and what are they looking for?
“Our solution is already being used worldwide by major European and global sports players based in Europe, as well as numerous events, festivals, museums, public transport, and so on we have already distributed several million secured tickets through a mobile portfolio based on the blockchain.”
Q: How do you see TIXnGO in several years’ time in the industry?
“I predict that in five years’ time, 80% of tickets for live events will be sold using blockchain technology as it’s an easy and effective way to solve many of the problems the industry faces today. TIXNGO creates a unique, encrypted ticket for smartphones that is completely traceable, removes the risk of counterfeit tickets and simplifies the process of transferring or reselling tickets for the customer. Blockchain will profoundly transform the ticketing industry as we know it and TIXNGO is leading the way.”
Q: Do you think that fraud will be significantly reduced?
“Yes, TIXNGO has recently added an artificial intelligence (AI) module to improve security and help prevent ticket fraud. The technology enables analysis of ticketing data and detects suspicious behaviors by ticket holders that may be damaging to the event organizers. The tool traces all ticket transfers in real-time and uses graph detection algorithms to identify potential fraud within the ticket lifecycle.”
“Event organizers are now able to get a visual representation of the transfers of all tickets, pointing out which users might need to be monitored. For example, a spectator that sells all their tickets would be worth investigating as they may be doing so for profit at an inflated price. TIXNGO’s machine learning algorithms have already identified multiple suspicious patterns which were previously running undetected and untraced.”
“As part of future releases, TIXNGO is studying the possibility of assigning trust scores to ticket holders based on previous behavioral patterns, while at the same time preserving the ticket holder’s personal data privacy rights.”
TIXNGO offers a secure mobile ticket solution to all venue and event organisers, whatever their current ticketing system is and currently, many clients have decided already to improve their customers' experience with the TIXNGO solution. Some of them are AJAX and Paleo Festival among others. Learn more about this new tool and how you can take your ticketing business to the next level.
SOURCE: Interview by Cryptopress with Pierre Etter, 17.08.2020