LockTrip, a decentralized open source bookings ecosystem for renting hotel rooms, private properties or accommodation (the decentralized LOC Ledger). LockTrip will be the first system which allows end customers and property owners to deal with each other on the platform without any fee or commission. In addition to that, they will build LockTrip – which will be the first marketplace/application that will connect with the decentralized engine. The decentralized system will hold the LOC booking ledger which will be the core of the engine. Existing platforms are currently centralized and take fees from the property owner and/or the end customer. Additional middlemen are the payment processors. All listings and deal parameters on LockTrip will be decentralized on the Ethereum blockchain, eliminating all middlemen and guaranteeing transparent execution.
LockTrip marketplace’s web and mobile clients will present an easy-to-use interface to add
and edit their listings on the decentralized LOC Ledger. One-click solutions for transferring current listing from other platforms will be provided for maximum comfort. Traditional payment methods will also be supported as an option because the LockTrip marketplace will have a built-in algorithm that will execute automatic conversion of all external currencies into the LOC utility token. The synergy between the LockTrip marketplace and the decentralized LOC Ledger provides an ecosystem that is self-sufficient and powerful enough to compete with the best service providers in the $500 Billion accommodation sector.
will be able to browse for the best property, using both web and mobile apps. They will focus the LockTrip marketplace to be as user-centric as possible, offering comfortable user interface and overall experience. The zero commission which by default is a feature of the decentralized LOC Ledger, will provide the lowest rates, possible only when end customer and property owner deal directly. Current market middlemen take 10-25% of the deal. Releasing the LOC Ledger as a decentralized solution will bring this value back to the end-customer, allowing cheaper travel. By integrating marketplaces such as LockTrip, The value of the LOC token will increase and could become a catalyst for change in the industry.
The Decentralized LOC Ledger
is the engine that regulates all transactions and relationships between the hotels/property providers and the clients. In its core, there are going to be rules and operations governed by smart contracts which will be deployed in the Ethereum Virtual Machine. The LOC Ledger will keep record of all transactions and will regulate the transaction executions
through client/host driven smart contract triggers. The LOC Ledger will run solely with the native LOC token and any application that wishes to connect to the engine will have the freedom to provide added value services such as support of additional payment methods which they can convert into LOC at the time of the booking. This can be done either through integration to external exchanges or by converting the currencies themselves with an internal algorithm.
Online travel Agencies Sector
The Online Travel Agency industry is composed of websites that allow consumers to search for and purchase airline tickets, car rentals, or hotel accommodations from providers of those services. The companies only serve as an intermediary in the transaction. The companies serve as a way for customers to shop around, customize packages, and find special rates. Advertising to website visitors forms a small part of revenues. Competition between companies tends to be based on advertising expense, but concentration is very high with a few firms generating the bulk of revenues. The Online Travel Agency industry is made up of only a few firms of any size. The major companies own many different branded websites, some of which offer different services such as Booking owned by Priceline that books accommodations primarily in hotels but also in apartments like Airbnb, though Booking is solely focused on listings from commercial businesses. OpenTable is also owned by Priceline and allows making reservations through the website or the mobile application.
• Introduce and incentivize a reluctant industry – hotels and property rentals – to the blockchain and digital space
• Undercut the financial, booking aggregator, travel agency and software industries, which together can take as much as 25% in commission in each hotel booking transaction
• Match customer service expectations in the travel and tourism sectors, providing transparent details related to booking availability and pricing, on a platform that rewards loyalty in ways that, until now, have not been prevalent in the industry
• Provide seamless integration to property owners, who could sync their hotels with a single click or import of a csv file
• Provide a free of charge availability management tool to property owners
To facilitate a better understanding of the LOC tokens being offered for purchase by the
Distributor, and the businesses and operations of LockTrip, certain technical terms and abbreviations, as well as, in certain instances, their descriptions, have been used. These descriptions and assigned meanings should not be treated as being definitive of their meanings and may not correspond to standard industry meanings or usage.
[su_quote]Quote This article is writing on 18 Sep 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: firstname.lastname@example.org Or Whatsapp Us- +13098896258[su_quote]
Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.