What Is The Catch In Using Virtual Currency In Exchange Of Attendee Tickets?
While in some parts of the world including China, Tunisia, Iraq and six more countries the cryptocurrency and transactions revolving around it are completely banned, over 89% of the world is relishing and celebrating the
blockchain currency technology. After its global acceptance and certain government regulations, nearly 300 million users have started relying on investing and transacting with crypto.
Hmm but how does it affect our niche and people-oriented events industry?
The answer lies within the statement itself.
People are the crux of the industry and as people and their expenditure habits evolve, the industry has to modify. Cryptocurrency involved in events industry transactions solves impending issues like creation of an incorruptible environment, easier transactions and inclusion of the Gen Z. Corporates and individuals of the events sector who are gradually plumping for crypto, gloat about the different identity access management using distributed ledger technologies, fraud prevention and payment gateway security crises that the technology resolves.
But not everyone is ready to jump aboard the crypto ship as of now. Let’s take a look at the few risk-takers who have already begun the voyage.
Are There Any Big-Players Involved In The Virtual Currency Game Yet?
Virtual currency is already considered a promising payment method in the events industry with client payments, attendee ticketing and other transactions going the crypto way. And according to the researchers, the crypto payments are going to increase by 64% globally. An event organizer claims that the registration and ticketing transactions will tip towards crypto largely by the end of 2022.
Xing Events have jumped on the crypto train by enabling Bitcoin payments for their events. The company has revolutionized the entire payment process by upgrading the traditional payment methods like instant transfer, PayPal, direct debit, advance payment, invoice, credit card, or cash payment, organisers can now offer their customers to use any payment method, adding iDeal, AliPay, WePay, Amazon Pay, as well as payment by cheque to the list. This has widened their audience with fast and secure payment as they can now reach beyond the 28 countries they were serving.
In addition to it, EXPO Convention Contractors, a full-service trade show contractor and exhibit design company based in Miami, announced its establishment of a corporate cryptocurrency wallet to begin accepting Bitcoin and Ethereum as additional forms of client payment.
Even the audio-visual and other requirement support provider vendor company, Absolute Production Company has used their collaboration with crypto-currency as a medium of showcasing their forward-thinking.
Are you thinking about joining the squad of visionaries? Here is how you can start implementing bitcoin transactions for your event.