LockTrip LOC

What is LockTrip?

LockTrip is a travel agency that has its platform built on a blockchain. The aim of LockTrip is to reduce the travel expenses of customers by eliminating intermediaries and their commissions. The platform offers access to over 2.1 million hotels and homes across over 190 countries. You can also choose from over 1000 airlines to fly in. The costs are estimated to be approximately 20% smaller compared to industry standards. Besides, you can get up to 60% discounts. In essence, the platform acts as a one-stop marketplace for booking flights, hotels, and accommodations.

The payment for all this can be made through credit cards, major cryptocurrencies, or the native crypto token of the platform, LOC. Check out the LockTrip price chart above if you care to see the current LOC price.

There is no max supply set for LockTrip crypto assets, however, the LOC token follows a deflationary model by utilizing a buyback-and-burn mechanism. How does it work? Every time a booking is made on LockTrip, 3% of the booking value is leveraged for purchasing LOC tokens and immediately burning them. This helps to keep the LockTrip price from going down.

Who Founded LockTrip?

Nikola Alexandrov is the founder and CEO of LockTrip. He has also co-founded the Hydra blockchain protocol, on top of which the LockTrip platform is built.

The LockTrip team is planning to go a step ahead and build a LockTrip NFT matrix. This would enable travelers to book their rooms, flights, and homes with the help of NFTs. It would also eliminate the necessity for too many formalities and processes, and thus make the entire process easier.