LockChain ICO: Company Review and LOC Token News Updates

LockChain LOC ICO: Hotel Booking Vacation Rental Marketplace?

The online property and holiday rentals industry is currently the target of several different blockchain based platforms, and appears to be a prime target for blockchain disruption. Traditional booking platforms suffer from high fees, which range from 15% to a massive 30%.

As the online booking industry is worth more than $500 billion internationally, it’s the ideal location for decentralization. As a result, many travelers and individuals seeking short term rentals are beginning to return to direct contact with owners, which eliminates the protective factors offered by third party platforms.

A new blockchain based platform, however, is aiming to revolutionize the booking industry by eliminating the middleman expenses associated with the market. Lockchain, launching off the back of a successful late 2017 ICO, appears to be set to heavily disrupt the online booking industry.

In this article, we’ll take a look at the Lockchain platform and find out what it offers to help you assess whether it’s worth investing in.

What is LockChain LOC?

Lockchain is an upcoming decentralized booking platform that is aiming to revolutionize the booking market. Presented as an equivalent to AirBnB on the blockchain, Lockchain will be built upon the Ethereum blockchain and allow property owners to communicate and do business directly with individuals seeking accommodation.

Using smart contracts, LockChain LOC will store all transactions on a decentralized, transparent ledger, and will provide features such as payment processing, booking management, and the accompanying database. Importantly, Lockchain doesn’t charge commissions, which should bring the price of accommodation down for travelers while increasing ROI for property owners.

The LockChain LOC Solution

Lockchain will provide users with a marketplace that is integrated with the Lockchain ledger, and will present both property owners and users with a simple, streamlined interface. Interestingly, Lockchain has made it possible for property owners to import their properties and listings from other platforms with one click integration, which should speed up user adoption rates.

The Lockchain platform also supports a diverse range of payment processing solutions, and completely eliminates transaction fees. Users, upon selecting an available property that meets their requirements, will engage in a smart contract with the property owner.

Property owners using Lockchain will be able to customize a range of options, including the need for a security deposit, cancellation charges, and more. The entire platform runs on the LOC token, but will present early users with the option to use fiat currency as adoption rates increase.

The LockChain LOC Verdict

Lockchain is a promising platform that has recently succeeded in reaching their initial coin offering goals, and as such is likely to succeed. As the platform charges 0% commission and facilitates seamless transfer of existing listings, it’s likely only a matter of time until Lockchain begins to dominate the bookings industry.