Los Angeles, CA, June 27, 2024 (GLOBE NEWSWIRE) -- With indications pointing towards a likely landslide victory for the Labour Party, IdBase's technology stands ready to support new regulations aimed at restricting ticket resale.
Labour Party leader Sir Keir Starmer has announced, "Labour will cap the resale prices of tickets and regulate resale platforms if the party wins the next general election. The plans will clamp down on ticket touts who rip off music and sports fans going to live events." If implemented, this would position the United Kingdom alongside Brazil and Mexico as one of the largest countries globally to introduce such restrictions nationwide.
IdBase acknowledges that this potential legislation comes less than a year after the BOSS & SWIFT Act was introduced in the US to protect consumers from unfair and deceptive practices in the primary and secondary ticket marketplaces. The challenge lies in the need for enforcement mechanisms, which are currently lacking, and which IdBase intends to address with its technology following successful pilots funded by this investment round.
IdBase offers a pioneering identity verification platform that utilizes biometrics to authenticate attendees' true identities, effectively countering ticket scalping bots and ensuring equal access to face-value pricing across all ticketing systems. By securely linking identities to tickets, IdBase enhances event security while optimizing venue operations.
"IdBase is committed to creating a better ecosystem for fans, artists, teams, and venues," commented Alan Gelfand, CEO of IdBase. "Our technology not only enhances security and transparency but also supports the enforcement of new regulations, providing a seamless experience for all stakeholders."
As IdBase approaches the conclusion of its current investment offering today, interested investors can be a part of the solution and make a difference. By investing in IdBase, they can support a technology poised to revolutionize the live events industry.
About IdBase: IdBase provides an identity verification platform for the live events industry. Its technology leverages biometrics to authenticate attendees' true identities, defeating ticket scalping bots and ensuring access to face-value pricing across all ticketing systems. By linking identities to tickets, IdBase enhances security while optimizing venue operations. The company aims to create a better ecosystem for fans, artists, teams, and venues.
