Bitcoin Could Put Ticket Scalpers Out of Business

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Bitcoin

By Kyle Torpey

bitcoin ticket sales

NEW YORK (InsideBitcoins) — With the recent decision by Overstock CEO Patrick Byrne to move some of the basic functions of Wall Street to a block chain, it seems that the Bitcoin community is more interested in the idea of colored coins than ever before. Reddit may also be issuing their own colored coin in the near future, but it’s important to remember that these token systems built on top of the Bitcoin protocol can represent more than stock in a company.

In fact, one of the organizations at the forefront of the colored coins concept for decentralized asset issuance has some ideas as to how this technology could improve the process of selling tickets for concerts and sporting events.

Considering cryptotokens for ticket sales

ChromaWay is the company behind ChromaWallet, which is one of the first working implementations of the colored coins concept. Unlike…

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