France proposes to deploy 2024 Olympics ticketing system on blockchain

Michel Cadot, a member of the French Olympic Inter-Ministry, has submitted to the prime minister a number of proposals to regulate the 2024 Games, which are set to be held in Paris. One of Cadot's proposals is to apply blockchain technology to the ticketing system.

Cadot said that blockchain technology will help better secure ticket buyer information. In addition, the proposal includes a binding condition that tickets to the event are not allowed to be transferred.

Tickets will be submitted by the organizers a few days before the Games begin as rotating QR codes integrating blockchain technology. Once "check-in" is checked in, the ticket will be deactivated immediately.

Returning to the Champions League final between Real Madrid and Liverpool in Paris in May, the match was postponed by more than half an hour as thousands of English fans arrived to watch without fake tickets or tickets.

According to Cadot, if the ticket system blockchain technology is applied, the same problem will be almost impossible.

Blockchain application integrated into other sporting events in France

Cadot believes that this personalization will bring many benefits to individuals, as they will be able to receive digital information about issues such as how to get to locations from each region of Paris and safety procedures during the Olympics. He also believes that blockchain ticket sales can be successfully integrated into other major sporting events held in France:

"These regulations have been planned for the 2023 Rugby World Cup and the 2024 Olympic and Paralympic Games, and are being implemented at major events such as the French International Tennis."

Not only does it enhance personalization and security for users, Cadot believes that the 2024 Olympic Games in Paris will be an opportunity for France to showcase the host country's achievements in the new technology sector.

The Olympics are linked to the cryptocurrency industry.

Assuming France achieves its ambitions, this will not be the first time the Olympics and the cryptocurrency industry have been linked together.

Last summer, Indian exchange Bitbns awarded cryptocurrencies to local Olympic medalists in Tokyo. Each gold medalist will receive about $2,700 in digital assets, the silver medal winner will receive $1,350, and each bronze medalist will receive $675.

For its part, China aims to popularize and promote the adoption of its digital yuan during the 2022 Beijing Winter Olympics. That allows foreign athletes and tourists to use financial products, despite concerns from some U.S. politicians.

As reported by CryptoPotato, more than $315,000 e-RMB is traded every day during sporting events.