LockChain is a decentralized and open source hotel reservation/lease ecosystem where end users and asset owners can quickly trade on the platform without any formalities or commissions.

1. Application scenarios

We designed and built LockTrip, a decentralized open source booking ecosystem for renting hotel rooms, private property or accommodation (LOC Ledger decentralized). LockTrip allows end customers and owners to trade with each other on the platform without any fees or commissions. LockTrip.com is the first market/app to connect with the decentralized engine (LockTrip.com market). 

The nature of our services includes specific procedures with automated processes to ensure that payments are performed correctly and accurately. If a person on the body wants to book a hotel with a credit card of Euro, the built-in algorithm exchanges the payment of Euro into the LOC via an API connection with the exchange. The booking is then executed at the LOC at a commission of 0%. After check-out, if there is no dispute, the smart contract managed to book will be paid to the hotel. The hotel clears the LOC to Fiat, and the handling fee paid by Fiat is 0% of the hotel.

From the customer's perspective, browsing the LockTrip.com market will not require the use of LOC tokens. But in reality, what happens whenever you buy is that the market will use its built-in algorithm to convert any external payment method to LOC. The use of other fiat and cryptocurrencies will be provided as a service, although a 1-3% fee may be charged. More features will be released over time.

(The above information comes from LockChain official website)

2. Project Features

For owners, they need to pay a large commission or mortgage to traditional intermediary platforms, but on Locktrip, they can rent/pre-leas the house to travelers on excursions or self-driving tours in a commission-free manner. For tenants, they can view location, room type and other information on the platform in advance and rent at the lowest price.

Related links:
https://locktrip.com/terms.html