What is UTIX?
UTIX is an online, decentralised event hosting and e-ticketing platform that utilises smart contracts to reduce market inefficiencies and provide event organisers (EO) with variables they conventionally would not be able to control. Users and event organisers can buy or sell tickets through cryptographic signatures stored on a blockchain that cannot be altered or destroyed, removing the requirement of centralized servers, over-reliance on costly third parties and other negative externalities that arise through an unregulated free market mechanism. UTIX, through our own protocol, can lend tokens to an event organiser to be distributed to a user when a ticket to their event is purchased. Through our user-friendly interface, an event organiser/user will have all the functionality of a blockchain, without the added complexities typically involved. By utilising smart contracts, we can reduce complication, cost, and minimize the threat of fraud.