Paris Olympics will exploit the blockchain technology

Ticketing Business News revealed that Michel Cadot, inter-ministerial delegate of the French Olympics, presented a report with guidelines including blockchain-based ticketing.

Blockchain at the 2024 Paris Olympics

The news is that blockchain technology will be at the heart of tickets for the Olympics to be held in Paris in 2024. 

The news was given by the specialized journal Ticketing Business News according to which Michel Cadot, inter-ministerial delegate for the Olympics, has drawn up a report with the stakes for the 2024 event and among them is the use of blockchain technology for tickets. 

This move aims at two main objectives, the protection of the privacy of the fan and the certainty that tickets will not be transferable or replicable in any way. 

This is not the first time this technology has been used in events of this scale. The prizes for athletes at the Tokyo Olympics, for example, were given out in this way, using cryptocurrencies for financial compensation.

Cadot himself stated:

“These provisions are already foreseen for the 2023 Rugby World Cup and the 2024 Olympics and Paralympics and practiced by major events such as the French International Tennis”.

How the initiative will be organized

The ticket will also contain a rotating QR code that will be automatically deactivated as soon as the ticket is used to enter the event. 

The QR code will also allow users to receive pluses such as transport news, enhanced security and digital channels. 

A further desire of Michel Cadot is to set up a commission to supervise all major international sporting events. 

The road being taken with blockchain is also aimed at security and avoiding the incidents that occurred at the last Champions League final between Liverpool and Real Madrid. 

The report has been on the desk of Prime Minister Emmanuel Macron for a week, who is examining its pros and cons. If the protocol is adopted this will be the first international event entirely based on blockchain, which is claimed to be the most reliable technology to date and the subject of endless applications. 

The French Prime Minister’s final approval would put an end once and for all to the underworld of crime and evasion known as scalping, where fraud is used to sell fake tickets for matches and concerts to people, often unaware.