BANDWAGON Places Fourth in Dubai Blockchain Challenge
Thursday, May 24th, 2018
BANDWAGON has now gone global.
This sports technology company recently places fourth out of 17 companies in the Startup Dubai Office Blockchain Challenge. Dubai launched a city-wide Blockchain Strategy in October 2016 with the aim of becoming the first blockchain-powered city by 2020. Smart Dubai Office (SDO) and Union are looking for game-changing applications of blockchain technology in any industry. Blockchain has the potential to improve people’s lives, and Dubai is posed to be a leader in moving such applications forward.
The Dubai Blockchain strategy is based on three pillars.
Government Efficiency: Implementing blockchain technology in government services
Industry Creation: Supporting the creation of a blockchain industry through empowering startups and businesses
Thought Leadership: Leading the global thinking on blockchain technology
As part of the competition more than 200 projects from 53 industries in 85 cities worldwide were reviewed. Only 20 were invited to present in person. That included Greenville-based BANDWAGON.
“It was intense. We had three minutes to present our story and our use case to an auditorium packed with people,” said Harold Hughes, the company’s CEO. “While I wish we were in the top 3, I am proud to have had the opportunity to present what my team has been building on an international stage.”
BANDWAGON creates transparency and trust in a highly segmented ticketed live event industry through a proprietary permissioned Blockchain (built on IBM’s Hyperledger Fabric), Hughes said. Event owners such as Sacramento State can track, with certainty, the authenticity, ownership, and restrictions of each ticket that enters their stadium, regardless of where it is purchased.
For example, a team may know it sold one person a season ticket, but it doesn’t know how many of the games the person actually attends. That fan may sell some of the tickets to their friends. BANDWAGON allows the athletic department to find out who that new person is giving them tools to offer unique services, create better marketing, and deliver higher engagement campaigns that ultimately increase their revenue.
“BANDWAGON is growing quickly as people learn our story and what we can do to help create a better sports marketplace,” Hughes said.