Blockchain park operations: The new swipe and play

Image credit

Blockchain park operations: The new swipe and play

Blockchain park operations: The new swipe and play

Subheading text
Blockchain technologies are turning virtual coins into real thrills, changing how we queue, play, and pay.
    • Author:
    • Author name
      Quantumrun Foresight
    • June 7, 2024

    Insight summary

    The introduction of blockchain technology into theme park operations and ticketing is transforming the entertainment landscape, allowing for more secure transactions and personalized visitor experiences. This trend points towards a future where guests might enjoy smoother access and customized services, though it also raises questions about digital access and literacy. As the sector evolves, blockchain integration will likely streamline operations, reduce fraud, and require changes in regulatory approaches and business models.

    Blockchain-powered park operations context

    French technology company Crypto Blockchain Industries launched MetaCoaster within the AlphaVerse Metaverse in 2022. This game, functioning as a blockchain-powered theme park simulation, invites players to design, manage, and trade within a virtual economy using Non-Fungible Tokens (NFTs). Here, players can derive real-world financial benefits through the operation and enhancement of their theme parks, indicating a broader shift towards integrating blockchain into gaming and providing a secure, decentralized platform for transactions and ownership.

    Meanwhile, Disney's selection of Polygon, a blockchain scalability platform, for its 2022 Accelerator program underscores the growing interest in utilizing blockchain for augmented reality (AR), NFT, and artificial intelligence (AI) technologies. Polygon operates as a multi-chain scaling solution, sometimes called an "Internet of Blockchains." It enables developers to create scalable, interconnected blockchain networks that can communicate and transfer value with each other and with the Ethereum network main chain. 

    Disney's 2024 patent application for utilizing blockchain to secure theme park tickets further illustrates the technology's practical applications in enhancing customer experience and security. This system aims to provide a tamper-proof digital record of ticket transactions, from sale to usage, potentially eliminating fraud and ensuring authenticity. Such applications offer solutions to longstanding issues like ticket scalping and unauthorized resales. 

    Disruptive impact

    As more parks begin to adopt blockchain for ticketing and in-park purchases, visitors can expect a smoother entry process and a reduction in fraud, thanks to the technology's ability to authenticate transactions securely. This shift may also lead to more tailored park experiences, as blockchain can store preferences and history, allowing customized recommendations. However, the reliance on digital technology raises concerns about digital literacy and access, potentially marginalizing those without the skills or means to engage with these advanced systems.

    For amusement park companies, the technology can streamline operations by automating ticket sales, in-park purchases, and even staff management, reducing operational costs and enhancing customer satisfaction. Moreover, blockchain's transparent nature allows for better management of supply chains, ensuring the authenticity of merchandise and food safety. However, the initial cost of implementing blockchain systems and the ongoing need for technological updates present significant challenges, requiring substantial investment and a shift in business models to stay competitive.

    For governments, this technology can support local economies by attracting tech-savvy tourists and encouraging the development of a digital infrastructure that benefits other sectors beyond entertainment. It also offers governments a tool for better oversight and regulation of the industry, thanks to blockchain's transparent and immutable record-keeping. However, the decentralized nature of blockchain complicates regulatory efforts, requiring new frameworks that balance innovation with consumer protection and security. As such, governments may need to invest in education, legal frameworks, and partnerships with technology providers to promote the benefits of blockchain while mitigating its risks.

    Implications of blockchain-powered park operations

    Wider implications of blockchain-powered park operations may include: 

    • The integration of blockchain in park operations leading to more efficient energy use and lower carbon footprints in line with sustainable development goals.
    • Blockchain enabling a more transparent supply chain for vendors, resulting in higher quality and ethically sourced goods available to consumers.
    • The creation of a decentralized marketplace for tickets and services, reducing monopolistic practices and fostering fair pricing.
    • The government introducing new regulations for digital currencies, ensuring a safe and regulated environment for financial transactions.
    • Blockchain facilitating a seamless cross-border payment system, encouraging international tourism and cultural exchange.
    • The adoption of smart contracts for entertainment providers, leading to more reliable and dispute-free agreements between parties.
    • An increase in blockchain-based educational programs, promoting digital literacy and awareness among visitors.
    • The establishment of global standards for blockchain in entertainment, ensuring compatibility and interoperability between different parks and attractions worldwide.

    Questions to consider

    • How could blockchain technology in entertainment venues change your experience as a visitor?
    • What are the potential benefits and drawbacks of using digital tokens instead of traditional currency?