Author: Dr. Liew

Fighting COVID-19 with Blockchain

COVID-19 outbreak has become a global pandemic in recent months. The epicenter of the outbreak has moved from China to Europe and then the US. It has sickened hundreds of thousands of people and caused ten of thousands of deaths.

The coronavirus pandemic has highlighted many of the applications for blockchain technology. For example, Blockchain technology has been proposed as the most efficient means through which the United States’ stimulus package could be distributed.

On the other hand, the Chinese government has deployed blockchain in numerous applications to assist its efforts to fight COVID-19, using DLT to track the virus’ spread, medical records, and the distribution of medical supplies and charity donations.

To fight the outbreak, WHO has launched a DLT platform for sharing data pertaining to the COVID-19 Pandemic. In addition, some companies and non-profit organizations have also launched blockchain-based projects to counter the outbreak of COVID-19. Let’s examine a few of the aforementioned initiatives :

WHO

WHO has launched the blockchain-based platform know as MiPasa to fight COVID-19. The platform will enable “early detection of COVID-19 carriers and infection hotspots. It was built on top of the Hyperledger Fabric. Hyperledger Fabric is an open-source enterprise-grade permissioned distributed ledger technology (DLT) platform.

The MiPasa platform was co-developed by MiPasa, IBM, Oracle, Hacera and Microsoft. It aims to facilitate fully private information sharing between individuals, state authorities and health institutions.

MiPasa is a verifiable information highway that allows cross-references siloed location. Furthermore, health data is stored on the platform to obtain global insights while ensuring patient privacy. Besides that, MiPasa is will host an array of publicly accessible analytics tools too.

SNARK HEALTH

Snark Health is a platform that connects patients, doctors, insurers, and donors for health care services, private data sharing and payments via the blockchain technology.  

To combat COVID-19, SNARK is building a framework for data-driven discussions and shared learnings to help people have a greater impact at their respective local, state, national level in collaboration with their organizations and governmental agencies. It aims to enable more rapid dissemination of information to improve patient outcomes.

The goal of this project is to facilitate the exchange of knowledge, best practices, and lessons learned to support the people and organizations that are tasked with problem-solving at the local level across the globe. According to SNARK, there remain many unanswered questions in regards to the clinical, operational and financial aspects of the COVID-19 pandemic. Through the process of answering these critical questions, the new framework could lay the foundation for global triage support, improved access to health care services and clinical research.

BINANCE

Binance’s Blockchain-powered donation platform Binance Charity has initiated a $5 million coronavirus relief campaign At the time of writing this article, its “Crypto Against COVID” campaign has received 24 donations, amounting to a total of 160.6306 BTC. A wallet has been set up for public donations, which can be made in BNB, BTC, BUSD, and XRP. Besides that, Binance will make an upfront donation of $1 million in BUSD, which will be converted to fiat and used to purchase supplies to send to hospitals in affected countries.

In addition, Binance will also match donations up to $1 million. Furthermore, the company will donate $1 for every retweet of its #CryptoAgainstCovid posting and will donate an additional $1 million if the number of retweets reaches 1 million within seven days.

As of March 20 this year, Binance Charity has delivered a number of coronavirus aid products to over 300 hospitals and medical teams in multiple provinces and cities, including Hubei, Sichuan, Guangxi, and Shanghai. The items delivered include 366,000 pairs of gloves, 56,800 masks, 9 sterilizers, 173 barrels of disinfectant, 5,280 bottles of hand sanitizers, 20,000 testing kits, 7,850 protective suits, 20,000 pairs of goggles, 388 oxygen concentrators, and 1000 germicidal lamps.

Hashcash Consultants

Hashcash Consultants has launched the Corona Fund Index Cryptocurrency (CFIX), a coronavirus relief initiative involving cryptocurrency.

This global software firm promised that 90% of trading fees derived from CFIX will be diverted to its Corona Relief Fund. The fund will be donated to various non-profits and organizations that are actively combating the global COVID-19 pandemic crisis.

References

What is DeFi?

DeFi stands for decentralized finance, which means operating financial applications on a decentralized platform such as blockchain. It is the new financial architecture that leverages decentralized networks and decentralized technologies such as smart contracts to transform old financial products into trustless and transparent protocols that run without intermediaries.

In contrast, centralized finance means a single organization such as a bank controls and manages the funds of the clients. This kind of centralized control has many weaknesses, including the abuse of funds and manipulation of personal data, frauds, single point of failure due to hacking, and more. 

Decentralized finance has many advantages as it’s aligned with the characteristics that blockchain technology possesses.

The Advantages of DeFi

Maintain Full Control of your own digital Assets

The digital assets that you own on a DeFi platform solely belong to you alone and you have the freedom to use it in whatever ways you like, without the interference of an intermediary. There is no centralized authority, such as a bank, with the ability to freeze your account, seize your assets, or block your transactions.

Increased Accessibility

According to the World Bank, globally there are still approximately 1.7 billion unbanked adults. These people are at a disadvantage when it comes to pursuing many financial opportunities that could improve their socioeconomic status and lift them out of poverty.

Unfortunately, centralized financial institutions don’t have an incentive to target this population. The revenue they would receive from providing services to the currently unbanked simply doesn’t justify the costs of reaching them. In contrast, DeFi providers operate without expensive intermediaries hence they are more willing to serve the underprivileged people. Furthermore, DeFi is borderless and ‘permissionless’ hence everyone on earth particularly the unbanked population can access this form of affordable financial services. Therefore, DeFi has the potential to reduce the world’s poverty.

Opportunity to own a portion of an expensive asset

Another DeFi application is tokenized assets. Tokenizing assets is creating digital tokens to represent the ownership of real assets that can be traded like securities such as shares. By creating tokenized assets that represent, say, a portion of a real estate investment, you open up the investment for people who previously couldn’t afford it, to having access from anywhere in the world.  Almost anyone can trade tokenized assets as he or she is not required to commit to an entire high-value investment at once. Instead, he or she has the option to buy or sell just a portion of the asset.

Transparency

 DeFi data is publicly available, enabling you to keep service providers honest. For instance, you can easily check the reserves of a DeFi bank, shop around for accurate loan rates, or even track the transactions of public figures.

Let’s examine a well known use case of DeFi, the Maker DAO

Maker DAO

MakerDAO is an open-source project on the Ethereum blockchain and a Decentralized Autonomous Organization created in 2014. The project is managed by people around the world who hold its governance token, MKR.

MakerDAO is a decentralized credit platform on Ethereum that supports Dai, a decentralized, unbiased, collateral backed stablecoin whose value is pegged to USD. The Maker Protocol which is known as Multi collateral Dai (MSD) allows users to mint Dai by leveraging collateral assets approved by the Maker Governance. Maker Governance is a community organized and operated process of managing various digital assets of the Maker Protocol.

The Maker Protocol is one of the largest dApps on the Ethereum blockchain. It was the first DeFi application to gain significant adoption among the crypto communities. Since the release of Single Collateral Dai in 2017, user adoption of this stablecoin has increased dramatically. Indeed, It has become a driving force in the DeFi movement. The Maker Protocol is designed by a diverse group of individuals that include developers, external partners, other persons, and entities. It is managed and governed by people who hold the governance token MKR through a system of scientific governance involving executing voting and governance polling.

Anyone can use the Maker Protocol to open a Collateralized Debt Position (CDP), lock ETH as collateral, and generate Dai as a debt against that collateral. Dai debt incurs a stability fee (i.e., continuously accruing interest), which is paid (in MKR) upon repayment of borrowed Dai.

The MKR is burned, along with the repaid Dai. Users can borrow Dai up to 66% of their collateral value (150% collateralization ratio). CDPs that fall below that rate are subject to a 13% penalty and liquidation (by anyone) to bring the CDP out of default. Liquidated collateral is sold on an open market at a 3% discount.

Holders of Maker’s other token (MKR) govern the system by voting on, e.g., risk parameters such as the stability fee level. MKR holders also act as the last line of defense in case of a black swan event. If the systemwide collateral value falls too low too fast, MKR is minted and sold on the open market to raise more collateral, diluting MKR holders.

I shall discuss more DeFi use cases in coming articles.

References

Crypto Fund Management

Cryptocurrency is a new asset class derived from nascent blockchain technology. Its phenomenal growth in recent years has attracted many investors who used to invest in traditional financial products to start investing in crypto assets. Reports have shown that there is a significant amount of capital flowing into the crypto market. This capital flow has created an increasing demand for new financial products that cater to the needs of the crypto market.

Indeed, cryptocurrencies are rapidly gaining traction with the general public. According to CoinMarketCap, the total market cap for all cryptocurrencies reached an amazing $739 billion in January 2018. Though the market cap dropped to a low $113 billion in December 2018 due to the bear market, it rebounded strongly in 2019 to a figure between $250 billion to $350 billion. Though much of this value has been generated by individual traders, it is also largely the result of large investment funds. These crypto fund management companies, which hold crypto assets worth as much as $1 billion or more, are the whales of the cryptocurrency community.

Generally, the trading of crypto assets is performed on exchanges. Most crypto investors keep and manage their crypto assets on exchanges, cold storage, mobile wallets, desktop wallets, hardware wallets, and more. The aforementioned complex management process that requires sophisticated skills makes it extremely difficult for individuals to manage a diverse crypto portfolio.

Fortunately, a dozen crypto fund management companies have emerged with products and services that could help ease the tedious investment process in crypto investment. One of the most popular ones is the use of index funds to automate the process of investing in crypto assets for individuals, using AI algorithms. Another crypto financial product on the rise is the crypto hedge fund which caters only to high net worth individuals.

Indeed, crypto investment tools and products such as crypto index funds, automated trading with rebalancing, and tracking are becoming ubiquitous. Crypto index funds provide an opportunity for investors to build their own portfolio or track an index and reap profits from this new and volatile asset class.

Despite the potential issues, it’s encouraging that crypto hedge funds seem to have performed reasonably well even during bear markets. And with the majority of crypto funds in the index now employing external auditors, custodian services and fund administrators, the industry is becoming less risky. Although the crypto fund industry is still very much in a nascent stage, crypto funds could present institutions and individuals with an attractive way to invest in this sector.

Let’s examine some index funds in the crypto market.

Bitwise 10 Private Index Fund

The Bitwise 10 Private Index Fund is the world’s first crypto asset index fund. It seeks to track the Bitwise 10 Large Cap Crypto Index (“Bitwise 10 Index”), which selects the 10 largest crypto assets based on criteria including 5-year diluted market capitalization, trade volume minimums, concentration limits, and compliance. The portfolio is rebalanced monthly. Assets are held in 100% cold storage, audited annually, and purchased across several liquidity providers to seek best execution. Bitwise actively evaluates network opportunities including hard forks, airdrops, emissions, staking rewards, super- and master-node rewards, and captures available benefits for fund investors where appropriate.

Bitwise is a crypto asset manager founded in 2017. The firm has a large software team, with backgrounds across Google, Facebook, Wealthfront, and military software security, which we believe is essential for navigating the space. Bitwise has been covered by CNBC, Forbes, Bloomberg, Barron’s, WSJ, Coindesk, and others, and is active in the crypto asset community

BITWISE 10 INDEX COMPONENTS

Bitcoin BTC77.8%
Ethereum ETH8.5% 
Ripple XRP6.0%
Bitcoin Cash BCH 2.4%
Stellar Lumens XLM0.6% 
Litecoin LTC 1.9%
EOS EOS1.4% 
Monero  XMR0.5%
Cardano ADA0.4%
DASH DASH 0.4%

Crypto20

Crypto20 claims to be the first tokenized index crypto index fund in the world. Their motto is autonomous ‘token-as-a-fund’.

In 2017, their team successfully pioneered the first tokenized crypto-only index fund, which used the seed funding to buy the underlying crypto assets. There are no broker fees, no exit fees, no minimum investment and full control over your assets. 

Crypto20 provides a way to track the performance of the crypto markets as a whole by holding a single crypto asset. They claimed that their index funds have consistently beaten the average managed fund since their inception. 

Learn more about Crypto20 from their whitepaper.

Alternatively, you can look into more accessible funds that don’t require heavy investment. Let’s take a look at the following funds:

Coinbase

The Coinbase Bundle offers a one-click purchase for the first five cryptocurrencies that were listed on Coinbase, which are weighted by market cap at the time of purchase.

  • Bitcoin — 76.59%
  • Ethereum — 15.84%
  • Litecoin — 3.94%
  • Bitcoin Cash — 3.11%
  • Ethereum Classic — 0.52%

This retail-aimed product allows users to invest as little as $25 in the basket of crypto assets.

Hodlbot

HodlBot is a customizable cryptocurrency trading bot that enables users to index the market, create custom portfolios, and automatically rebalance their cryptocurrency portfolios. 

HodlBot allows you to grow your portfolio like the world’s most sophisticated investors. They are making institutional portfolio management software available to everyone. Best of all, HodlBot is free forever for account values under $500. Otherwise, it’s $10/month with a 7-day free trial.

In short, crypto index funds are a fast-growing alternative financial product that is currently outperforming the stock markets and other traditional financial products. Though it is still riskier than traditional investments, it is worth venturing into this market to grow your capital. 

References

Blockchain-based Event Management and Ticketing Platform

The event management and ticketing industry is a huge market, particularly the event management software market. Markets Insider reported that the Event Management Software Market is projected to grow from USD 5.7 billion in 2019 to USD 11.4 billion by 2024, at a CAGR of 15% from 2019 to 2024.

However, despite the great potential of the event and ticketing industry, there are numerous problems and issues plaguing the current centralized event ticketing industry. The main issues include ticket counterfeiting, ticket scalpers, instant sell-outs and overpriced resale tickets on secondary markets (EventChain, 2017).

The good news is that the blockchain could fix the aforementioned issues.  A blockchain is a distributed digital ledger that can be used to record transactions and other data across a decentralized peer-to-peer network made up of a cluster of computing devices.

Using blockchain technology, every ticket sales can be publicly verified, and thus the authenticity of the ticket can be guaranteed. It is also able to prevent fraudulent sales and counterfeiting. It sets rules (using smart contracts) preventing secondary ticket websites from hoarding tickets and charging inflated prices for premium events. If the rules are broken, the fraudulent accounts are frozen and the tickets are made invalid.

In a nutshell, a blockchain-based event and ticketing system has the following benefits:

  • Elimination of ticket duplication and counterfeit tickets
  • Elimination of scalpers
  • Elimination of ticket touts and purchasing bots
  • Fully transparent ticketing aftermarket
  • Automatic refund at the time of cancelation

Use Cases

BitTicket

The Edinburgh-based Citizen Ticket is an event ticketing platform backed by blockchain technology that uses the cryptocurrency Ethereum Classic. In May 2017, they deployed the blockchain-based ticketing system BitTicket and delivered the first live event using blockchain technology.

BitTicket is a ticket delivery service that event organisers, venues, and artists can use to secure their tickets with blockchain technology. BitTicket provides users with one wallet QR code that holds all their BitTickets securely, no matter which ticketing provider they bought them from. They simply present it along with proof of ID to gain entry. Due to the security of BitTicket identity, ticket transfer to friends and family can be done easily and with assurance. BitTickets are immutable, transferable, and verifiable.

BitTicket guarantees the following:

  • Your purchased ticket is genuine
  • Inherent protection against industrial-scale ticket touts and ticket purchasing bots
  • Transfer your tickets securely and with ease between friends & family
  • Provides one wallet for all your tickets – no more individual tickets

GUTS

GUTS uses blockchain technology to create a transparent ticketing ecosystem where inflated secondary market prices and ticket fraud are eliminated. Their motto is simple, transparent and secure.

GUTS brings numerous benefits for different stakeholders:

  • Artist and Managers
    • A fair chance for all the fans to attend the show
    • Expand the fan base with exact data
    • Direct communication with your fans. Send them a message right before the show starts.
  • The Venue, Festival and Theatre Operators
    • No ticket fraud: fewer complaints and a stronger image
    • You know exactly who is present at any time (and who isn’t)
    • Automatic refund procedure at the time of cancelation or resale
    • Identification via mobile phones means shorter queues
  • Ticket Providers
    • Complete control of the tickets in both the primary and secondary market
    • Easy to integrate with existing ticketing solutions

LAVA

LAVA is a blockchain-based ticketing system that guarantees fair and secure smart tickets for music lovers. The system prevents ticket touting and fraud ruining festivals for music lovers.

The LAVA ecosystem has the following features:

  • 100% Safe
    • Using latest blockchain technology to eliminate ticket fraud
  • Smart Tickets
    • Smart tickets to stop the exploitation of festival tickets using a unique digital footprint
  • Lava Wallet – Eliminate printing completely by generating the ticket digitally and sending the digital ticket to the Lava wallet directly
  • No booking fee

PouchNATION

PouchNATION is an event management software system that uses the blockchain technology to good effect. PouchNATION is the first platform to implement blockchain and new digital currency across all verticals in event management. Its components comprise guest registration, cashless payment, access control, activity tracking, social engagement and detailed analytics reporting.

This innovative platform could overcome issues that the ticket industry is currently facing with managing events, attendance tracking apps, eliminating duplicate tickets, and validating registration at the door.

They have executed over 100 events including cashless events in Indonesia, Philippines, Vietnam, Malaysia, Thailand, and Myanmar.

EventChain

EventChain is a global Smart Ticketing blockchain project that will allow events worldwide to sell SmartTickets through a peer-to-peer network, solving the issues of the centralized event ticketing industry.

It implements the EventChain token network for event management to ensure faster transactions, indisputable ticket vouchers, transparency from event hosts and fully flexible and programmable SmartTickets. With the use of the EVC token, smart contract code, and the Ethereum blockchain, EventChain’s transaction network brings increased accountability, transparency, and security to event ticketing.

To fix the excessive ticket fees, EventChain is distributing EVC tokens, a digital ERC20 token created for buying, selling, and programming SmartTickets on the Ethereum distributed network. EventChain claims that their transaction fees are much lower and the transaction confirmation speed is near seconds.

Event Management and Ticketing Platform-A Conceptual Model

After examining the above use cases, I propose a conceptual model that utilises a similar concept to develop a blockchain-based event management and ticketing platform. Below is a simple conceptual model of the Event Management and Ticketing Platform:

The platform allows an event organizer to create an event and broadcast it to the website as well as a mobile wallet. The event should comprise details such as event title, date, time, venue, and a ticketing ordering button. The participant can then order tickets by paying  Token X. Once the organizer receives Token X, the e-ticket shall be automatically delivered to the participant’s mobile wallet. To enter the event venue, the organizer just needs to scan the e-ticket of the participant.

To build the platform, we need to build a smart contract layer on top of blockchain network to automate the buying and selling of event tickets. We shall use Solidity to write the contracts. There shall be at least three smart contracts -the ERC20 token contract(to generate Token X),  the event contract, and the ERC721 ticket contract. The event contract will need to link to the ticket contract as it needs to use the data in the ticket contract. The keyword to access the data in another contract is import. For example, we can create an event contract event.sol that imports the ticket contract ticket.sol, using the syntax as follows:

Pragma Solidity ^0.5.0
import "./ticket.sol";

The event.sol file shall create an event contract that specifies event details such as total tickets, collected funds, start time, etc. The code could be as follows:

Contract Event { 
 struct EventDetails {  
 uint256 ticketAmount; 
 uint256 SoldticketAmount; 
 uint256 CollectedFunds; 
 uint256 StartTime; 
  }

The event contract shall also include a create event function, as follows:

function CreateEvent{
 uint256 _ticketAmount; 
 uint256 _Startime 
}

There are many more functions to be included in the smart contracts but I will not dwell further as this is not a technical paper.

References


Event Management and Ticketing Platform

The event management and ticketing industry is a huge market, particularly the event management software market. Markets Insider reported that the Event Management Software Market is projected to grow from USD 5.7 billion in 2019 to USD 11.4 billion by 2024, at a CAGR of 15% from 2019 to 2024.

However, despite the great potential of the event and ticketing industry, there are numerous problems and issues plaguing the current centralized event ticketing industry. The main issues include ticket counterfeiting, ticket scalpers, instant sell-outs and overpriced resale tickets on secondary markets (EventChain, 2017).

The good news is that the blockchain could fix the aforementioned issues.  A blockchain is a distributed digital ledger that can be used to record transactions and other data across a decentralized peer-to-peer network made up of a cluster of computing devices.

Using blockchain technology, every ticket sales can be publicly verified, and thus the authenticity of the ticket can be guaranteed. It is also able to prevent fraudulent sales and counterfeiting. It sets rules (using smart contracts) preventing secondary ticket websites from hoarding tickets and charging inflated prices for premium events. If the rules are broken, the fraudulent accounts are frozen and the tickets are made invalid.

In a nutshell, blockchain-based event and ticketing system has the following benefits:

  • Elimination of ticket duplication and counterfeit tickets
  • Elimination of scalpers
  • Elimination of ticket touts and purchasing bots
  • Fully transparent ticketing aftermarket
  • Automatic refund at the time of cancelation

Use Cases

BitTicket

The Edinburgh-based Citizen Ticket is an event ticketing platform backed by blockchain technology that uses the cryptocurrency Ethereum Classic. In May 2017, they deployed the blockchain-based ticketing system BitTicket and delivered the first live event using blockchain technology.

BitTicket is a ticket delivery service that event organisers, venues, and artists can use to secure their tickets with blockchain technology. BitTicket provides users with one wallet QR code that holds all their BitTickets securely, no matter which ticketing provider they bought them from. They simply present it along with proof of ID to gain entry. Due to the security of BitTicket identity, ticket transfer to friends and family can be done easily and with assurance. BitTickets are immutable, transferable, and verifiable.

BitTicket guarantees the following:

  • Your purchased ticket is genuine
  • Inherent protection against industrial-scale ticket touts and ticket purchasing bots
  • Transfer your tickets securely and with ease between friends & family
  • Provides one wallet for all your tickets – no more individual tickets

GUTS

GUTS uses blockchain technology to create a transparent ticketing ecosystem where inflated secondary market prices and ticket fraud are eliminated. Their motto is simple, transparent and secure.

GUTS brings numerous benefits for different stakeholders:

  • Artist and Managers
    • A fair chance for all the fans to attend the show
    • Expand the fan base with exact data
    • Direct communication with your fans. Send them a message right before the show starts.
  • The venue, Festival and Theatre Operators
    • No ticket fraud: fewer complaints and a stronger image
    • You know exactly who is present, anytime (and who isn’t)
    • Automatic refund procedure at the time of cancelation or resale
    • Identification via mobile phones means a shorter queue
  • Ticket Providers
    • Complete control on the tickets at both the primary and secondary market
    • Easy to integrate with existing ticketing solutions

LAVA

LAVA is a blockchain-based ticketing system that guarantees fair and secure smart tickets for music lovers. The system could prevent ticket touting and fraud ruining festivals for music lovers.

The LAVA ecosystem has the following features:

  • 100% Safe
    • Using latest blockchain technology to eliminate ticket fraud
  • Smart Tickets
    • Smart tickets to stop the exploitation of festival tickets using a unique digital footprint
  • Lava Wallet-Eliminate printing completely by generating the ticket digitally and sending the digital ticket to the Lava wallet directly.
  • No booking fee

PouchNATION

PouchNATION is an event management software system that uses the blockchain technology to good effect. PouchNATION is the first platform to implement blockchain and new digital currency across all verticals in event management. Its components comprise guest registration, cashless payment, access control, activity tracking, social engagement and detailed analytics reporting.

This innovative platform could overcome issues that the ticket industry is currently facing with managing events, attendance tracking apps, eliminating duplicate tickets, and validating registration at the door.

They have executed over 100 events including cashless events in Indonesia events in Indonesia, Philippines, Vietnam, Malaysia, Thailand, and Myanmar.

EventChain

EventChain is a global Smart Ticketing blockchain project that will allow events worldwide to sell SmartTickets through a peer-to-peer network, solving the issues of the centralized event ticketing industry.

It implements the EventChain token network for event management presents to ensure faster transactions, indisputable ticket vouchers, transparency from event hosts and fully flexible and programmable SmartTickets. With the use of the EVC token, smart contract code, and the Ethereum blockchain, EventChain’s transaction network brings increased accountability, transparency, and security to event ticketing.

To fix the excessive ticket fees, EventChain is distributing EVC tokens, a digital ERC20 token created for buying, selling, and programming SmartTickets on the Ethereum distributed network. EventChain claims that their transaction fees are much lower and the transaction confirmation speed is near seconds.

A Conceptualised Event Management and Ticketing Platform

After examining the above use cases, I propose that we can use a similar concept to develop blockchain-based event management and ticketing system for a decentralized platform. Below is a simple conceptual model of Event Management and Ticketing platform:

The platform allows an event organizer to create an event and broadcast it to the website as well as the Token X wallet. The event should comprise details such as event title, date, time, venue, and a ticketing ordering button. The participant can then order tickets by paying Token X. Once the organizer receives Token X, the e-ticket shall be automatically delivered to the participant’s mobile wallet. To enter the event venue, the organizer just needs to scan the e-ticket of the participant.

To build the platform, we need to build a smart contract layer on top of the platform to automate the buying and selling of event tickets. We shall use Solidity to write the contracts. There shall be at least two smart contracts – the event contract, and the ticket contract. The event contract will need to link to the ticket contract as it needs to use the data in the ticket contract. The keyword to access the data in another contract is import. For example, we can create an event contract event.sol that imports the ticket contract ticket.sol, using the syntax as follows:

Pragma Solidity ^0.5.0
import "./ticket.sol";

The event.sol file shall create an event contract that specifies event details such as total tickets, collected funds, start time, etc. The code could be as follows:

Contract Event { 
struct EventDetails { 
uint256 ticketAmount;
uint256 SoldticketAmount;
uint256 CollectedFunds;
uint256 StartTime;
 }

The event contract shall also include a create event function, as follows:

function CreateEvent{
uint256 _ticketAmount;
uint256 _Startime
}

There are many more functions to be included in the smart contracts but I will not dwell further as this is not a technical paper.

References