The event industry is worth almost $1 trillion per year. Evedo is a new blockchain-based platform that is giving everyone in the event ecosystem a great toolkit to slash event costs and make sure that everyone involved gets a fair shake.
If you are like most people, you aren’t on the planning side of an event. Buying a few tickets and going to a show or convention doesn’t shed much light on how much work goes into making amazing events happen.
The team at Evedo has a lot of experience in event planning and they think that a blockchain-based platform could make event planning better for everyone. Especially the people who want to see their favorite band or personality perform.
Making a big event happen means coordinating a large group of people for a common goal. In addition to the venue and talent, there are numerous other professionals that need to be hired. Normally, all of this happens because of contractors, none of whom have access to each other’s information.
Evedo has a simple solution for all of this. Its platform has both a Business to Business (B2B) section and a Business to Consumer (B2C) platform that provides a holistic event planning tool.
The idea is very easy to understand. For event planning professionals, Evedo’s B2B section will allow everyone involved in the event planning process to collaborate in a totally transparent environment, with money for services held in escrow.
For example, if the event planner needs to book lighting for a musical performance, they can hire the lighting company via Evedo’s platform, outline the specs of the job, and put money in escrow for the lighting company.
Once the lights are set up and taken down (assuming everything went well) the lighting company will be paid from the escrow account. There is no way for the client to back out after the job is done, or get burned by a shady contractor who takes a deposit and never shows up to do the work.
No More Ticket Shenanigans
Ticket scalping and other issues with ticket distribution are bad for both the event planners and the people who want to attend. In addition to financial costs, there are growing safety concerns.
If a scalper buys thousands of tickets and then resells them, there is no way for the event staff to know who may be coming to the event. Evedo’s platform has an innovative solution to this problem.
When an event is produced on Evedo’s platform, the ticket sales are a big part of the B2C section. People will be able to buy their tickets directly from Evedo’s platform, and a record of their identity will be created at the time of purchase. Not only does this help event staff by creating a record of who is coming to the event, but it also eliminates the business model that most scalpers use.
Blockchain-based systems have a strong resistance to tampering, which helps to prevent ticket fraud as well. There are many areas of event planning that are leftovers from a time when digital systems didn’t exist, and they aren’t doing anything to help the industry grow more efficient.
`Evedo Addresses Event Planning from Every Level
Planning an event is difficult. Bringing people together for a few days can be very trying, and there are a lot of areas where misunderstandings can arise. When communication falls apart, the consequences can be severe.
Making an event run smoothly is a big part of Evedo’s platform. It tackles some of the biggest hurdles in event planning with creating transparency and facilitating open communication.
Are We Communicating?
There is a lot of communication that goes into making an event happen. Miscommunication means lost time, and possibly lost money, but it is all too common in event planning. One of the biggest reasons why miscommunication happens is that it is done verbally, and there is no way for other people who are involved in the production to access a record of what was communicated.
Evedo is Well-Funded and Growing
In addition to having a live platform for event planning, Evedo recently launched an Initial Exchange Offering (IEO) with Bitforex Exchange (token symbol EVED). Unlike an Initial Coin Offering (ICO), an IEO requires that the token be researched by the partner exchange who will then facilitate trade in the token.
Evedo is a growing company that has a great idea. It will be interesting to see what other tools the company adds to the platform as it achieves deeper penetration into a massive potential market. The platform that is live now is getting attention, and it will likely expand as people realize how much easier it makes event planning.