Blockchain Travel Initiative To Offer Hotels 20% Cheaper Than Booking.com Or AirBnb

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LockTrip, a European-based company is looking to put the accommodation sector on the Blockchain which will facilitate the creation of “the first Blockchain-powered travel service. The startup already offers over 100,000 hotels and 1,500 vacation rentals worldwide with a discount of 20% on the average compared to other booking platforms. LockTrip is looking to add 300,000 more hotels and 900 airlines by the end of January this year.

Smart Contract Travel Booking Service

Accommodations that offer zero commission can easily be booked directly on LockTrip’s beta marketplace. For a straightforward booking process for users who are not familiar with Blockchain, LockTrip has set up a service model that paves way for instant connection between the company’s ERC-20 LOC token and credit cards. Travelers who are unfamiliar with crypto can book reservations with their credit card in the same way with any regular travel platform. While the exchange for digital asset will be executed automatically through an API connectivity using exchanges that allow the trade of LOC.
Every booking is locked in a smart contract until your checkout is completed.

According to LockTrip, booking through their marketplace offers affordability and better security for guests compared to other traditional methods of booking reservations, where the customer can risk not getting the particular service they have already paid for.

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Additionally, the Blockchain-based travel marketplace, has launched its mobile application for the Android and iOS based devices. The startup is reportedly working on creating a hybrid proof-of-stake Blockchain. The LockTrip Proof-of-Stake Blockchain is going to embody the best of top digital assets Bitcoin (BTC) and Ethereum (ETH). The company plans to create a platform that will have the capacity to support Ether applications while completing more transactions per second.


Zero Commission

LockTrip is an enthusiastic startup that wants to improve the economics of retail travel. As per a report published by the startup, the average price for hotels on the platform is 20% lower than what the cheapest alternatives offer users. According to LockTrip, the service will help users save 17% when booking hotels in Europe. Users can also save 23% booking for hotels in the United States. The company’s report also show that in 2018 the average number of bookings on LockTrip increased 10 times and booking volume increased by 152% by Q4 last year. During the said period there was no more than €40,000 worth of LOC acquired from exchanges for utility purposes.


Competitive Accommodation Prices The Goal


Finally, LockTrip promises that it will continue in its ambition to develop its marketplace by searching for and collaborating with partners that can offer competitive prices for accommodations. The startup is looking for ways to increase the size of their marketplace by four times at most. The company recently revealed that it will be integrating an additional 300,000 hotels at lower prices.

LockTrip insists that it is working on a global airline travel service, that will have the capacity to support 900 airlines. The startup will ultimately offer users a 0% commission for the new service a move that will ensure that prices are cheaper than what their competitors offer. It is scheduled for a mid-January launch this year.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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