Live Nation Entertainment, Inc. (20240273484). DIGITAL SECURITIZATION, OBFUSCATION, POLICY AND COMMERCE OF EVENT TICKETS simplified abstract
Contents
DIGITAL SECURITIZATION, OBFUSCATION, POLICY AND COMMERCE OF EVENT TICKETS
Organization Name
Live Nation Entertainment, Inc.
Inventor(s)
Sanzib Khaund of Walnut Creek CA (US)
DIGITAL SECURITIZATION, OBFUSCATION, POLICY AND COMMERCE OF EVENT TICKETS - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240273484 titled 'DIGITAL SECURITIZATION, OBFUSCATION, POLICY AND COMMERCE OF EVENT TICKETS
The present disclosure introduces systems and methods that can transform traditional tickets into secure digital assets safeguarded by cryptographic public/private keys and deployed on a blockchain. By structuring these tickets as smart digital contracts, the system can function as a self-policing escrow while granting ticket issuers increased control over the tickets even after they have been transferred out of their possession. Specific capabilities can be incorporated into the digital assets to offer enhanced multiple ownership, security granularity, and sales restrictions in ticket transactions.
- Tickets are converted into secure digital assets protected by cryptographic keys and deployed on a blockchain.
- The system acts as a self-policing escrow and provides greater control to ticket issuers post-transfer.
- Smart digital contracts structure the tickets, offering increased security and sales restrictions.
- Specific capabilities are integrated into the digital assets for enhanced multiple ownership and security granularity.
- The technology allows for secure and controlled ticket transactions.
Potential Applications: - Ticketing industry for events, transportation, and entertainment - Secure digital asset management for various industries - Escrow services for online transactions
Problems Solved: - Lack of control for ticket issuers after tickets are sold - Security vulnerabilities in traditional ticketing systems - Difficulty in enforcing sales restrictions for tickets
Benefits: - Enhanced security and control over digital assets - Increased trust in ticket transactions - Improved sales restrictions enforcement
Commercial Applications: Title: Secure Digital Ticketing System for Enhanced Control and Security This technology can be utilized in the ticketing industry for events, transportation, and entertainment to provide secure and controlled ticket transactions. It can also be applied in various industries for digital asset management and escrow services, offering enhanced security and control over transactions.
Questions about Secure Digital Ticketing System: 1. How does the system ensure the security of digital assets in ticket transactions? The system utilizes cryptographic keys and blockchain technology to protect digital assets and enforce sales restrictions. 2. What are the potential applications of this technology beyond ticketing? This technology can be applied in various industries for secure digital asset management and escrow services, providing enhanced security and control over transactions.
Original Abstract Submitted
the present disclosure provides systems and methods that may convert traditional tickets into secure digital assets protected by cryptographic public/private keys that deploy these tickets on a blockchain. by structuring these tickets as smart digital contracts, such system can act as a self-policing escrow while simultaneously allowing ticket issuers greater control over the tickets after the tickets leave the ticket issuers' possession. the system can incorporate specific capabilities into the digital assets to provide an increased level of multiple ownership, security granularity, and sales restrictions in ticket transactions.
