What is AVT ( Aventus )?

#Aventus is a @decentralised protocol creating a less fraudulent and tout-filled event ticketing industry. The protocol's token Avent ("AVT") is key to enforcing its economic model. Its purpose is to reward participants for providing value (e.g. voting on the legitimacy of events, buying tickets, promoting events, and matching buyers and ticket resellers).

Aventus is a global open standard for the @exchange of tickets. Its block-chain-based @platform
eliminates uncontrolled resale and counterfeit tickets. It allows event organizers to create,
manage and promote their events and tickets with dramatically reduced costs, even letting
them set price controls and receive commissions on ticket resales. It also gives ticket buyers
rewards for promoting events, and identifying fraudulent activity.
Aventus’ innovations vastly improve upon existing solutions by bringing oversight and
transparency to the ticketing life-cycle, security to the transfer and validity of tickets, new
revenue streams for event organizers and greater promotional capabilities.
The Aventus Protocol resolves the difficulties earlier highlighted in this paper, through
the following:

1. Secondary @Market Control: At the core of the Aventus Protocol is a model
   pursuant to which off-chain transactions involving tickets are prevented. By ensuring
   that sales occur through the Aventus Protocol, event organisers can reliably enforce
   resale prices (minima and maxima) and even receive a portion of secondary market
   sales-revenue. The solution is twofold:

• Tickets have an identity associated with them: which could be the original
purchaser’s full name, face (as a photo), identity document or credit card.
It is added at the point of purchase in the primary market (the validation mechanisms
chosen is determined by the event organiser). The identity associated
with the relevant ticket will be checked at the event and compared to that on the
blockchain before entry is granted. Changes to identities (and therefore to the
recognised ’right of event access’ with the associated ticket) can only take place
if the ticket is resold through the approved secondary market. Please note that
ticket buyers add an encrypted picture or hash of the purchasing credit card
number, full name or ID number. The key protecting the photo is encoded in
the ticket which is presented at the event, thus none of the sensitive information
is ever publicly visible.

• Owners reselling their tickets in the secondary market do not know
to whom they are selling their ticket: the ticket is put up for sale and all
network participants can register an interest in purchasing it. Matching (ticket
allocation to interested network participants) would then be performed in a
pseudo-random fashion.

1. Blockchain Security: Each ticket would have a unique identifier on the blockchain.
   Due to its immutable properties, once the event organisers have set up their tickets
   on the Blockchain, counterfeits thereof cannot be created.
   Should an event itself be fictitious or fraudulent, the economic model underpinning
   the Aventus Protocol incentivises network participants to report such fact. The
   community of users of / participants in the Aventus Protocol (referred to hereinafter
   as the ’Aventus Community’) subsequently determines the event’s validity using a
   decentralised consensus mechanism on the blockchain.

Given the transparent nature of the blockchain, much of the oversight issues can be
solved. None of the previously discussed shady behavior when selling tickets will be
possible and consumers will be able to find a validated list of outlets selling tickets
on the blockchain. This list is keept free of fraud since applications have to be listed
and undergo a vetting process by the members of the Aventus community.

1. Promotion and Platform Cost Reduction: There are two key ways in which the
   Aventus Protocol will cause events to reach a wider and even more targeted audience:

• by de-siloing the ticket selling process, all events listed on the Aventus Protocol
will be accessible to any application using it (unless forbidden by the organisers),
thus forming a global, open pool of events which can be curated for specific
audiences and whose tickets can be sold by any application, incentivised via a
commission on each sale. This would completely overturn the current, siloed,
nature of the industry and encourage multiple participation to drive increased
sales.

• Event organisers could reward promoters (who may be listing apps and/or individuals
who generate ticket sales via such apps) with a commission on ticket
sales they are responsible for generating. The commissions which can be facilitated
may be as dynamic and complex as desired, since each promoter can
receive a different commission (based on off-chain assessments of their skill and
reputation for generating sales).

The combination of listing apps and reduced fees due to blockchain micro-transactions
will, axiomatically, result in ticketing costs being dramatically smaller than is presently
the case, allowing overall ticket prices to be lower (and therefore more competitive
and attractive).

Market Price Oracle :

Block-chains cannot access information not contained within them. Therefore, additional
data required by the Aventus Protocol must be inserted into the Blockchain.

Problem:

The party controlling the data sent into the system can affect the protocol’s
behavior.

Solution:

We will use existing trusted solutions (such as Oraclise) and provide our own
oracle smart-contract. We will allow event-hosts to decide which oracle to use for the
market price-feed from a list of options approved by the Aventus Community

More detail : https://aventus.io/