Locktrip is excitedly announcing that their LOC token today is listed at the state-of-the-art blockchain asset exchange, KuCoin. As part of their marketing expansion, they have decided to become part of the growing token pool of Kucoin as they have believed in success upon partnering with the said exchange.
The LOC token is now accessible for deposits with trading pairs including LOC/BTC and LOC/ETH. Other transactions such as buying will start at 19:30 UTC+8 and selling/withdrawal at 20:00 UTC+8.
All trading processes can be made possible utilizing their official website at www.kucoin.com, or through their Android and iOS apps.
LockTrip is an open and decentralized marketplace in the travel and tourism sector. Harnessing existing technologies and concepts, hotel and accommodation listings, online booking and purchasing, and by developing the first integrated marketplace that uses the decentralized LOC Ledger, LockTrip.com will challenge the market monopoly of online travel agents, payment processors, and metasearch aggregators. LockTrip implements a platform that charges no commission to the accommodation and property rental sector.
The Decentralized LOC Ledger
The Decentralized LOC Ledger is the known engine that manages all transactions and relationships between the hotels/property providers and the clients. At its core, there are going to be guidelines and operations administered by smart contracts which will be applied in the Ethereum Virtual Machine.
The LOC Ledger will keep a record of all transactions and will control the transaction executions through client/host driven smart contract triggers. The LOC Ledger will operate solely with the native LOC token, and any application that requires to connect to the network will have the freedom to give added value services such as support of additional payment systems which they can convert into LOC at the moment of the booking. This can be accomplished either through integration to external exchanges or by turning the currencies themselves with an internal algorithm.
The LOC Token
LOC tokens will be incentivized among paying members. Use LockTrip’s native token, and users pay no commission at all forever. Clients get additional refunds and rewards on their transactions upon writing of a review. These karma-based rewards systems can be continued and expanded upon.
The marketplace will take LOC Tokens, Bitcoins, Ether, Litecoin and fiat currencies via conventional payment methods. In addition to the established marketplace, the LOC Ledger will be available free of charge for anyone who needs to plug into the global ecosystem. It will increase the value of the LOC token and authorize travel industry websites entering the market to provide extremely competitive rates without investing heavily in web hosting, design, and server-end technologies.