The Aventus Foundation, which successfully sold 6,000,000 Aventus tokens (AVT) for 60,000 Ether (ETH), roughly $30M, in a token-sale in September 2017, has announced the availability of the Aventus Protocol, an innovative, open-source blockchain ticketing solution built on the Ethereum network.

Aventus, a Jersey-based foundation using blockchain technology to provide the ticketing industry with a fair and secure means of ticketing events, has announced the availability of the first-version of its Aventus Protocol source-code; an open-source blockchain ticketing platform that will allow anyone to build powerful decentralized applications for the ticketing industry.

By leveraging the power of blockchain to facilitate a supply-chain which strengthens control and operations, and prevents counterfeiting, Aventus wants to lower barriers to entry for developers in the ticketing industry. The initial release, they say, represents the building blocks for new innovation. The Aventus Protocol code is currently undergoing a third-party audit.

Aventus co-founder Annika Monari said: “The potential for this to enhance the current standards of expectation for ticketing are huge. What we are talking about here is an entirely fair and secure blockchain-based system, which virtually eliminates ticketing fraud and the scourge of unregulated touting. We want to work with the ticketing industry and encourage developers to review and engage with the source-code we are making available today.”

The Aventus Protocol will give developers the tools to utilise blockchain to build or enhance ticketing applications and services. This additional blockchain-enabled functionality ensures all parties in the supply-chain must adhere to pre-defined rules and greater security; considerations of paramount importance to ticketing sites coming under ever more forensic regulatory scrutiny.

The Jersey-based non-profit hopes that their protocol will prompt adoption in the ticketing industry, with the aim of helping to facilitate a self-regulating community centred on the ability to securely release, deliver and transfer ticket ownership.

Fellow Aventus co-founder Alan Vey said: “Event organisers will see the value in it, because it will enable them to effectively and efficiently manage and promote their ticketed events with significantly enhanced control over the ticketing supply chain. The protocol will also help them to foster greater trust and enhanced relationships with both ticketing partners and their customer base.”

Industry stakeholders have been intrigued by the potential of blockchain, and in recent months Aventus has sought every opportunity to talk with potential customers and partners. In this vein they have attended, among other events, the International Live Music Conference and the Ticketing Professional Conference in Birmingham in March, and the Ticketing Business Forum this week in Manchester, in order to converse with ticketing professionals from around the world about the most frequently encountered challenges faced by the industry.

Organisations interested in developing technology and services which interact with the blockchain using the Aventus Protocol can contact and work with Artos Systems, a company that adopted the core protocol early in order to provide ‘the bridge to blockchain’ through blockchain knowledge, SaaS tools and API connectivity.