LockTrip, a European travel company, has disclosed its plans to introduce a blockchain-based travel platform for reducing booking costs of hotels and vacation rentals.

As per sources, the company has already partnered with 100,000 hotels and 1,500 vacation rentals. It is further planning to expand its business by adding 300,000 more hotels and 900 airlines by the end of January 2019.

The company has developed a service model that instantly connects its ERC-20 LOC token with customer’s credit card. Crypto naive users will be able to do bookings using their credit card in the same traditional way while the bookings are signed and locked using smart contracts until the checkout is done.

LockTrip has assured enhanced security of the booking platform to users at affordable costs. The company has also introduced a mobile application on both Android and iOS phones. Furthermore, it is trying to build a hybrid LockTrip Proof-of-Stake Blockchain that will include the best features of Bitcoin and Ethereum. The company is also intending to develop a new platform to support Ether applications.