Ticketing validation and fulfillment system and method

A computer-implemented method for efficient management of content rights to a token exchanged in an electronic ledger environment, the method comprising:

• receiving, by a monetary transaction system including one or more processors, an indication to manage a transaction associated with purchase of a demand token by a purchasing entity from a selling entity, the one or more processors of the monetary transaction system accessing transaction data stored in a first electronic ledger having a plurality of records for storing information in a first plurality of logically linked data blocks,
• the one or more processors of the monetary transaction system processing financial information associated with the purchase of the demand token to initiate the transaction, the financial information including a value associated with the demand token, a source of funds for the purchase, and a destination account for transfer of currency from the source of funds,
• ownership information for the demand token stored by a content rights management system, having one or more processors processing the ownership information, in a second electronic ledger having a plurality of records for storing information in a second plurality of logically linked data blocks, the ownership information in the second electronic ledger not directly accessible by the monetary transaction system,
• a witness entity including a processor or logic code executed in a cloud platform, the witness entity communicatively coupled to both the monetary transaction system and the content rights management system, the witness entity configured to reconcile ownership information between a first electronic ledger that commits a transaction associated with transfer of ownership rights in the demand token and a second electronic ledger that commits a transfer of a commission amount to a designated entity, thereby enabling, by the witness entity, the transfer of ownership rights in a manner that is verified and recorded using multiple ledgers;
• verifying, by the witness entity, in response to execution of a smart contract executed on the first electronic ledger, ownership rights to the demand token, responsive to one or more assertions written to the first electronic ledger by the witness entity based on the witness entity accessing the ownership information stored in the second electronic ledger in accordance with a first protocol;
• and
• updating the first electronic ledger, by the monetary transaction system, to reflect transfer of the demand token from the selling entity to the purchasing entity, in response to determining that the one or more assertions written to the first electronic ledger by the witness entity satisfy a set of predetermined requirements, wherein at least a first assertion from among the one or more assertions confirms the transfer of the demand token to the purchasing entity,
• the demand token including ownership information and the demand token exchangeable with an admission token that includes admission information for attending an event,
• the demand token being converted to the admission token for purpose of entry to the event, the conversion comprising receiving, by the second electronic ledger, an indication to exchange the demand token with the admission token authorized by a first entity, wherein the admission token is associated with ownership information and includes admission information indicating that a second entity is to be admitted to or allowed to participate in the event, wherein generation of the admission token is committed to one or more records of the second electronic ledger that is distinct from the first electronic ledger used to record the monetary transaction associated with purchase of the demand token, in accordance with one or more protocols that control and memorialize downstream exchange of tokens and related transactions among multiple parties,
• the admission token being redeemable on the second electronic ledger, the conversion facilitating authorization by both the selling entity and the purchasing entity, reducing redundant validation across multiple ledgers;
• and
• the admission token being redeemed at time of entry to the event in accordance with a second protocol, the second protocol being less resource-intensive than the first protocol.