40% of the UK population can’t access affordable credit whilst savers struggle to get good rates and flexible terms. Today’s centralised P2P lending platforms fail to fully address the problem because their narrow business models & risk profiling are still largely based on traditional methods.
New Fintech startups do little to address the fundamental problems of financial inclusion focusing rather on improving more superficial user experience.
Credit Unions accept more loans, and give better returns to savers and borrowers but they are siloed. We bring them into a common decentralised marketplace and allow anyone to create their own ‘credit union on a blockchain’ to self-serve savings & loans services with one another on both social & financial dimensions.
When collective buying is used by companies it has been shown to provide savings of between 9%-18%. But buying co-operatives are incredibly rare and their processes highly manual. Whilst the sourcing & procurement software market is a $3.5 billion market globally, no vendor offers a dedicated collective buying solution. Because of the limited solutions, only 15%-20% of the Fortune 1000, and less than 5% of SMEs, implement collaborative buying into their process.
We make it easy to both setup, join and run a decentralised and fully automated buying cooperative on a blockchain that plugs into a marketplace of buyers and sellers. We enable any group of people to self-organise and collectively purchase in a way that better serves both buyer and seller. Buycos, and their funds, once setup are governed by automated and incorruptible smart contracts.
Ticket fraud and scalpers (and their bots) bring misery to fans at every turn, while artists and venues struggle to build lasting relationships with fans without meaningful data about their customers.
The resale market has been allowed to grow unchecked, without much thought given to how best to ensure that effective markets function in the best interest of the industry as whole.
Ticketing around the world is a highly complex ecosystem of overlapping commercial interests, creative rights-holders, technology providers, and financial systems - a maze of interdependent, and sometimes conflicting, services and systems.
Almost everybody is unhappy with some aspect of the current landscape - even Governments are stepping in to protect customers. Something must change.
1 - A Not-For-Profit Foundation
An Open Tickets Foundation that is inclusive and cross-industry developing an open ticketing standard - this has backward-implementation capability for legacy systems. The full standard can be deployed on single or multiple data-agnostic shared distributed ledgers (blockchains).
2 - Data-First Ticketing Products
Products built around smart.tickets can improve the customer experience, and pave the way for producers, promoters, venues, artists, and ticketing providers to find new sources of revenue.
This approach allows for - and encourages - the convergence of the global multibillion dollar ticket sectors into a consumer-friendly, transparent, equitable and self-regulated network.