LockTrip (LOC)

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LockTrip is one of the first blockchain based marketplace for hotels and vacation rentals. LockTrip unites hotel and property owners from all over the world together in a platform where they can sell their services.

Joke Name

LockTrip = Vacation Marketplace

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (LOC)

Coin or Token

Circulating Supply (15 Million)

Total Supply (18.5 Million)

Market Cap Ranking

Review

LockTrip is one of the first blockchainbased marketplace for hotels and vacation rentals. LockTrip unites hotel and property owners from all over the world together in a platform where they can sell their services without overspending on commissions or fees for the “middleman”. There simply isn’t a place for one in the system.

Key Features

  • The real sharing economy
  • LOC tokens
  • The team
  • Hotels in the ecosystem

The real sharing economy

Most travelers nowadays don’t have a clue about how much aggregators like Airbnb and Booking.com charge for their services. Just in case you are one of them – the commission of booking services goas as high as 30%.

In simpler words, a hotel room or a rental could have been 30% cheaper if you were making the deal directly with the owner.

Alas, a model like that was not self-sustainable. Both businesses and travelers are risking too much without the guarantees and insurance provided by the middleman.

Luckily, things have changed thanks to technology. Blockchain and Smart Contracts, for once, bring unseen before levels of transparency to the table thus successfully eliminating the need to overspend. LockTrip chose to capitalize on this shift by developing a blockchain-based booking platform that allows businesses to operate with a whopping 0% commission on all bookings.

LOC tokens

LockTrip has developed an interesting economy where travelers can use their tokens to either cover some travel expenses or store the currency as an asset. Both are pretty good ways of adding value to a currency through its usefulness to the user.

To top things off, there are only 18 million LOC tokens in circulation, making the currency rarer than Bitcoin. As per some other stats:

  • LockTrip is a high-potential project as it is designed to revolutionize a $550 Billion niche
  • The platform is a “live” or ready to use service today
  • The team has proven themselves well when they have raised 10,500 ETH during the token sales stages

(50% of the tokens were sold to general public, 25% were given to the team and early backers, 25% are kept as a reserve for further development)

The team

LockToken has gathered an impressive team of talented people. Nikola Alexandrov, the founder, and CEO at LockToken had successful experience in the niche since 2011 when he co-founded Bitcoin 7, the third largest Bitcoin exchange platform at the time.

Hristo Tenchev, the COO and co-founder of the project is also the CEO of XS Software, one of the most successful gaming companies in Europe that boasts more than 50 million registered players worldwide.
Both Nikola and Hritso have proven experience of running large software companies with hundreds of developers in staff, and their impressive track record leaves no room for question – LockTrip is in the right hands.

Hotels in the ecosystem

One of the best parts about LockTrip is that it is not your typical “work in progress” project. A user can log into the system today to book a room in more than 100,000 hotels from all over the world while paying 20% less.

Conclusion

We have a working project, a successful ecosystem, and a team of eager professionals running the show. Add the $550 billion industry into the mix and you’ll see that the project will grow into an overwhelming success over the course of the next few months.

Pros

  • Low cost accommodation
  • Big industry

Cons

  • No direct backing (asset, profits, commodity)
  • Limited exchanges