Shouldn’t we just use a traditional database?
Traditional databases are great for supporting internal customers, but where the data meets the wider world businesses need to collaborate and innovate and that means working together to build a cohesive picture of fans, tickets, and events.
Bandwagon’s open blockchain ecosystem allows stakeholders to come together and share the pieces of the puzzle that allow for deep insight into the fan experience. No need to build or maintain complex APIs and gateways–the data is the gateway.
How can we trust that our proprietary data will be used appropriately?
Built on IBM’s open-source Hyperledger Fabric blockchain technology, Bandwagon’s fan experience ecosystem supports private chains and network-enforced smart contracts. Share only the data you want to share, and only with the stakeholders with whom you want to share it. Embed smart contracts that ensure your data is only used in just the ways you want.
What is a private chain?
A private chain is a personal immutable ledger of transactions and observations that you control. Bandwagon administrates it, you share it with whomever you want and only in the ways you want. Strong elliptic-curve cryptography keeps everybody else out, and embedded smart contracts ensure that those you privilege to contribute do so appropriately.
What is a smart contract?
With a traditional database, data must be manipulated by people and applications that you trust to update it correctly. A bad update and you have incorrect data, data inconsistency, or data loss.
Opening a traditional database to partners means building and maintaining expensive APIs and gateways that enforce safe, consistent updates. And, without direct access to the data, multiple cooperating organizations end up maintaining independent fractured databases of the same (hopefully!) information.
Smart contracts embed the rules of fair play directly into the data. Cooperating partners get direct access, but are unable to make updates unless they conform precisely to the pre-negotiated rules.
What does it mean that the ecosystem is open?
Bandwagon provides infrastructure that makes the fan experience blockchain ecosystem work, but partners can enter the network themselves, contributing their own infrastructure to form a decentralized network to manage their data and the data of their partners. More partners means more availability, more disaster-resistance, and more stakeholders with an interest in maintaining the integrity of the data.