LockTrip is a blockchain based project with a significant competitive advantage over conventional OTAs: Offering hotel rooms and rentals for around 20% lower prices.

This is only possible because blockchain enables the elimination of middlemen, which can and will revolutionize many industries. As a result, there are currently hundreds of companies in dozens of different industries trying to make it a reality. But what are most of them missing?

One of our community members (Francisco Guerreiro) described it very accurately:

We will moon when my parents book with LOC without even realizing they are using blockchain 😀

And he is absolutely right!

Currently, only a few percent of the global population are in the crypto world, and fewer even use it regularly for their daily activities. While a few percent still amount to a lot of people, it’s a very limited target base for any business.

Breaking the isolation

In order to break this isolation, LockTrip will integrate fiat payment into the marketplace. We believe that it is an essential part of our project to make sure that the whole booking process is as easy and seemless as possible.

Our vision:

People who have not even heard of Bitcoin or Smart Contracts yet, should still be able to take advantage of 20% lower prices and easily book their next stay on our platform.

How will we achieve this?

Customers will be able to pay with their credit cards or other fiat payment methods the same way they are currently used to. Such a payment will trigger a buy order for LOC tokens on one of the exchanges we are listed on. Those tokens will then be used to engage with the smart contracts and unlock access to our service. All crypto related steps will be automatically executed as a background process.

Payment methods we are planning to integrate into our marketplace

It is important to mention that fiat payment will result in a small fee (1–3%) to cover the costs of the credit card providers and the exchanges. So paying directly with LOC tokens will always be cheaper.

However this is nothing specific to LockTrip, as people are currently paying similar fees for every payment they are executing with their credit cards.

We expect to implement this feature at the end of August 2018. And hopefully at that time, Francisco’s parents will also use our marketplace!

LOC tokens are the basis of the project economy and enable access to our services. Learn how to buy LOC tokens here!