The continuous quest of KuCoin Exchange to discover the best blockchain based projects in the modern time has directed to the listing of another unique decentralized marketplace called Locktrip. It is an open source bookings ecosystem for renting hotel rooms, private properties, and other accommodation.
Today, Locktrip’s transaction token LOC is immediately accessible for deposits with trading pairs LOC/BTC and LOC/ETH.
Buying commence at 19:30 UTC+8 while Selling and Withdrawal at 20:00 UTC+8 utilizing KuCoin’s Android and iOS applications or directly to their website at www.kucoin.com.
LockTrip is recognized as a decentralized, open source bookings ecosystem for renting hotel rooms, private properties, and accommodation (the decentralized LOC Ledger). LockTrip is the first system which enables end customers and property owners to deal with each other on the platform without any charge or payment. As an addition, they have created LockTrip.com which is the first marketplace and application that connects with the decentralized engine, the LockTrip.com Marketplace. The decentralized system will operate the LOC booking ledger which will be the focus of the network.
Blockchain technology gives a world of opportunities for practical applications that extend far beyond the financial sector. LockTrip encompasses this technology to open a decentralized marketplace in the travel and tourism sector. Harnessing existing technologies and concepts, hotel and accommodation listings, online booking and purchasing, and by developing the first integrated marketplace that uses the decentralized LOC Ledger, LockTrip will challenge the market dominance of online travel agents, payment processors, and metasearch aggregators.
The Decentralized LOC Ledger
The Decentralized LOC Ledger is the powerhouse that governs all transactions and connections between the hotel and property providers and the customers. At its focus, there are going to be controls and processes directed by smart contracts which will be used in the Ethereum Virtual Machine.
The LOC Ledger holds the record of all activities and controls the transaction executions through client or host run smart contract triggers. It will operate only with the inherent LOC token, and any application that needs to connect to the engine will have the privilege to give added value services such as assistance of additional payment methods which they can turn into LOC at the time of the booking.
The LOC Token
The LOC token is a constant part of Locktrip’s ecosystem and is the service token that provides access to both clients and hotel owners to the decentralized LOC Ledger. LockTrip intends to resolve a long-standing problem, how to get online bookings cheaper and transparent while maintaining the speed and security of all the processes associated. LockTrip addresses an issue that has been existing for many years. Possibly it has been under-the-radar due to price-gouging, anti-competitive practices, and damaging agreements that have been imposed on hotels by those who govern the Online Travel Agency market.