Lockchain.co, a blockchain-based service for booking has announced in an official statement of the Alpha release of its marketplace that will have 600 completely integrated listings. Along with that service, it will also have the possibility for hosts to list their properties for free and travelers can book without any commissions. Lockchain.co will feature 100,000 hotels as well, providing global accomodations.
"Booking.com and Airbnb.com charge on average 20% from each booking that is made through their platform. Our plan is to utilize advanced blockchain technology and to cut out any commissions. It is the right of the host to receive the full amount of the money for the investment that they are making, and it is certainly the right of the traveler to be able to pay directly to hosts for their travel experience," stated LockChain.co CEO Nikola Alexandrov.
LockChain.co challenges giants such as Booking.com and Airbnb.com with its blockchain-based online travel booking application. The company eliminates commissions and directly links clients to hosts through the unique blockchain-based LOC travel engine. The engine will utilize smart contracts to process bookings, which will provide a free-to-use trustless environment that protects both clients and hosts.
Any short term rental host can register and list a property on the LockChain Marketplace completely free of charge and enjoy 0% commission on their revenue.
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