Cryptocurrency exchange KuCoin has announced the listing of the native token for LockTrip (LOC), a blockchain based project for rental bookings. Deposits and withdrawals are now available with trading pairs that include LOC/BTC and LOC/ETH.
LockTrip is known as a decentralized, open source bookings ecosystem for renting hotel rooms, private properties, and accommodation (the decentralized LOC Ledger). LockTrip is one of the first systems which enables end customers and property owners to deal with each other on the platform without any charge or payment.
More on LockTrip
LockTrip.com is a marketplace/application that connects with the decentralized engine, the LockTrip.com Marketplace. The system will operate the LOC booking ledger which will be the center of the engine.
Current platforms such as Booking.com, Airbnb.com, and Expedia.com are centralized and take charges from the property owner and the end customer. Added agents are the payment processors. All listings and transaction parameters on LockTrip will be decentralized on the Ethereum blockchain, excluding all middlemen and guaranteeing transparent execution.
The LOC Token
LockTrip launched the LOC token sale on the 29th of October 2017. The LOC token is a static part of the ecosystem and will be the utility token that provides access to both clients and hotel owners to the decentralized LOC Ledger.
The marketplace allows LOC tokens, Bitcoins, Ether, Litecoin and fiat currencies via traditional payment systems. In addition to the proprietary marketplace, the LOC Ledger is accessible free of charge for anyone who wants to plug into the worldwide ecosystem. It will increase the cost of the LOC token and empower travel business websites accessing into the market to give extremely competitive rates without spending heavily on web hosting, design, and server-end technologies.