While regulations on ICO’s are tightening the blockchain market has taken a dive in the last month. Several blockchain companies are writing off their losses as they’re preparing themselves for a year full of uncertain factors. While projects with no real investment value are struggling, Lockchain is definitely a project you should keep your focus on in 2018. Their LOC token has been up almost 400% since their ICO, maintaining a relatively stable course and outperforming the total blockchain market cap. Have a look at their LOC token performance.
Advertising itself as “Hotel Booking & Vacation Rental marketplace With 0% Commissions”, they’re the first to offer a blockchain powered solution to the Online Travel Agencies (OTA) market. This market, valued at 500 billion USD in 2017 and running up to 1 trillion USD by 2022, is an extremely large and fast-growing environment currently dominated by sites such as Booking and Airbnb. Where commissions on these platforms can go as high as 20 to 35%, Lockchain promises to cut down these commissions to 0%! Let’s take their claim and see the results for their listings. See this cosy property listed in Greater London, United Kingdom, listed on AirBNB for $318. Same location, same date, only $227 on Lockchain. Let’s pick another random one that is the same date and in the same region. on the Lockchain market $489, while the same listing on AirBNB is $570. It’s clear the potential for Lockchain to be the freshly new, cheap and desirable online travel agency is great. With a savings of 28% on the first property and 14% on the second, they’re keeping up to their promise in offering a far cheaper alternative to travellers than their competitors. Lockchain doesn’t just stop with properties, it’s also penetrating the hotel booking marketplace. With incredible strategic partnerships, they’ve secured over 100.000 hotel listings for their platform in just their first year of operations and growing! For the record, that’s a 1/15th market share when looking at their largest competitor booking.com.
Not only is the success and developments of Lockchain impressive, the background of the team is impressive as well. There’s a lot of technical expertise in the team with the founders having experience in several large projects such as developing bitcoin7, XS software and Software University. One of the founders, Hristo Tenchev, has been listed in Forbes Magazine not once but twice! You can check out the Forbes Magazine International 2016’s article 30 under 30 here, and see the image below for his presence in Bulgaria’s Forbes Magazine 2018.
Asking how Lockchain achieved all of this Nikola Alexandrov, the CEO & Co-Founder, answered me: “Funneling talent from other projects and businesses we have, we’ve been able to develop a great team throughout the years “. This seems to be on point: With a team of 14 developers and several industries and non-industry specialised top and middle-level managers calling Lockchain’s team ‘great’ is a modest way to put it.
As it seems now the Beta release of their product will roll out in March, being offered publicly to the consumer market. Investors can find their LOC token is available on several different exchanges. With their relatively low price and their official launch coming soon, now is the time to buy! As for the travellers get yourself ready, a new booking platform is coming to town enabling you to travel cheaper than ever! You should definitely have a look at their current alpha product, which can be found here.