They design and build Lockchain, a decentralized open source bookings ecosystem for renting hotel rooms, private properties or accommodation (the decentralized LOC Ledger). Lockchain 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, we will build LockChain.
Existing platforms (e.g. Booking.com, Airbnb. com, Expedia.com) 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 Lockchain will be decentralized on the Ethereum blockchain, eliminating all middlemen and guaranteeing transparent execution.
For Property Owners Lockchain.co marketplace’s web and mobile clients will present an easy-touse 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 (e.g. credit cards, PayPal) will also be supported as an option because the LockChain.co markeplace will have a built-in algorithm that will execute automatic conversion of all external currencies into the LOC utility token.
Our Project Has Been Reviewed By Some Of The Most Popular Medias/Leading Industry Experts. In Addition, Lockchain Is Among The Few Projects Approved In The Reputable Wings DAO Platform. Feel Free To Click On Any Of The Logos To Read The Stories.
20% Lower Hotel Prices Than Any Other Site
Due to the advanced capabilities of blockchain technology, Hoteliers and Short Term Rental Owners can sell their rooms on our integrated markepalce for 20% lower prices without affecting their profits.
No Commissions On Revenue
Lockchain will have a single fixed subscription fee for property owners, which will be in the $29-$99 per month range (depending on number and size of properties)
Totally Decentralized Booking Engine
Our project consists of two parts. A decentralized booking engine — the LOC ledger (based on the Ethereum VM), and a marketplace that will be fully integrated with the decentralized LOC ledger.
Accepting LOC Tokens, As Well As BTC, ETH And Fiat Currencies
Our marketplace will have a built-in exchange algorithm which will automatically convert any external currency into LOC at the time of booking and will submit the LOC into the decentralized LOC ledger.
Technology, Security And Liquidity
Blockchain technology provides a perfect environment for affordable, instant, safe, non-disputable trasmission of information. It’s time for the travel industry to catch up.
LockChain’s goal is to deliver on its promise of providing accommodation deals, and travel and tourism related listings, at far less expense than the online travel agents who currently occupy the space.
The decentralized LOC Ledger will be the backend that will take care of:
— payment processing
— managing bookings
— database
This will be done through the utilization of smart contracts that can manage the customer/host relationship and will be programmed to handle scenarios with its native utility token (the LOC token)
— payment processing
— managing bookings
— database
This will be done through the utilization of smart contracts that can manage the customer/host relationship and will be programmed to handle scenarios with its native utility token (the LOC token)
The LOC ledger would hold 3000 properties in the end of January making it much more attractive for any newcoming marketplace. For anyone who would connect to it, this would lead to a marginal increase of 3000 properties from day 0 with zero investment on integration.
This is the only possible way for one to invest in a shared accommodation database is by knowing, that the database does not belong to anyone, and that no one would have the authority to shut it down. Something which is the core feature of a decentralized autonomous organization (DAO).
As a summary, the decentralized LOC ledger and the fact that it will be completely autonomous provide unquestionable and unique competitive advantages that build the core value of LockChain. Some might argue that a centralized market could still cut the commissions to near 0%, but that market will always be limited to the number of properties that it is able to integrate by itself. In contrast, when it is decentralized, it will be a combined effort between all marketplaces that are connected
LockChain.co is a marketplace with direct connection to the decentralized LOC ledger. Our Marketplace is an invariable part of the Lockchain ecosystem. It will be the first integrated application that will provide a user-friendly access to accomodation users. Lockchain will be the first system which allow end customers and property owners to deal with each other WITHOUT ANY FEE OR COMMISSION.
At this moment we have reached a preliminary agreement with more than 7,000 properties which we are planning to have integrated and available for LOC spending by the end of 2017.
RISKS AND UNCERTAINTIES
Prospective purchasers of LOC tokens (as referred to in this Whitepaper) should carefully consider and evaluate all risks and uncertainties associated with Lockchain, the Distributor and their respective businesses and operations, the LOC tokens, the Lockchain Initial Token Sale (each as referred to in the Whitepaper), all information set out in this Whitepaper and the T&Cs prior to any purchase of LOC tokens. If any of such risks and uncertainties develops into actual events, the business, financial condition, results of operations and prospects of Lockchain could be materially and adversely affected. In such cases, you may lose all or part of the value of the LOC tokens.
Prospective purchasers of LOC tokens (as referred to in this Whitepaper) should carefully consider and evaluate all risks and uncertainties associated with Lockchain, the Distributor and their respective businesses and operations, the LOC tokens, the Lockchain Initial Token Sale (each as referred to in the Whitepaper), all information set out in this Whitepaper and the T&Cs prior to any purchase of LOC tokens. If any of such risks and uncertainties develops into actual events, the business, financial condition, results of operations and prospects of Lockchain could be materially and adversely affected. In such cases, you may lose all or part of the value of the LOC tokens.
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