In a world where we pay a substantial cut of travel accommodation cost to middlemen such as Airbnb, LockTrip has introduced a blockchain based system that will eliminate the need to have a middleman present, thus reducing the cost of accommodation during travel and vacation by 30% or more.
How LockTrip Makes Traveling Affordable?
LockTrip is a decentralized booking marketplace which allows travelers and tourists to book hotel rooms, residential places, property and other types of accommodation without involving any third party. Through LockTrip, property owners and those who are looking to rent can directly come to an understanding. But you must be wondering where does the element of trust come from? Actually, both parties’ trust is rooted in a smart contract that has been programmed to execute itself depending on the predefined scenarios.
While third parties do bring reputation and reliability to the industry, platforms like Airbnb, Expedia, and Booking.com charge a hefty fee from property owners as well as the travelers/tourists. In contrast, LockTrip’s system is based on a decentralized Ethereum blockchain eliminating the requirement of a reliable middleman and ensuring both parties hold their ends of the bargain.
How Is LockTrip Different from Other Cryptocurrencies?
An overwhelming majority of cryptocurrencies can only be used as a highly volatile asset investment in hopes to make a short-term profit. On the other hand, LockTrip’s token that goes by the name of LOC has real-world uses. If you have the currency, you can use it to travel around the world instead of just looking at prices and charts hoping to make a few bucks.
What Are Other Benefits of LockTrip?
LockTrip makes it quite easy to book an accommodation anywhere around the globe. You simply specify the city, check in and check out date, the number of rooms required and the number of people and the system does the rest for you showing all the possible accommodations you can enjoy at the lowest rates. Listings show up with all the information you need to know including property’s location, pictures, rooms, type of amenities available, dining options and other facilities.
Elimination of middlemen from the rental process also means that property owners can also slash the rents to attract more customers while keeping their profits intact. LockTrip basically creates a win-win situation for both property owners and tenants. Being a blockchain powered service, LockTrip doesn’t lock out travelers who don’t want to pay through cryptocurrencies. LockTrip supports fiat currency payments for those who don’t want to pay with virtual currencies.
LockTrip Is a Growing Success
LockTrip isn’t just a startup anymore. Right from the beginning, the idea caught up great traction as LockTrip was able to raise around 10,500 Ether from more than 4,000 backers. Today, the platform has got more than 100,000 hotels to sign up for LockTrip and there is an ever-increasing community of travelers who are choosing LockTrip over conventional middlemen.
With more than 40,000 travelers, LockTrip has built a firm footing in the industry. Not only that, the platform also has thriving online communities on Telegram, Facebook, and Twitter.
You can check out LockTrip today!
Images courtesy of LockTrip
The Rundown
