Announcing LOC Economy 2.0

LockTrip was born out of an idea drafted back at the beginning of 2017. An idea for creating a new generation shared economy that could potentially make an impact and bring a new meaning to the blockchain as a technology and to the global hospitality industry.

Now, two and a half years later, as we are in a culmination stage of the product prototyping period, we are closer than ever to turn the new generation economic model into a reality. The concept that originally was just text in a whitepaper, has been put to the test and was validated by thousands of users on our marketplace application.

Thanks to this test, we were able to gather real market data and work with the numbers in order to iterate a more robust and effective economic design that could potentially lift the project to its next level. Some of the objectives being to:

• unlock unlimited scalability potential
• minimize price volatility exposure for hosts and LockTrip as a company
• enhance adoption of LOC from hosts side
• increase the economic impact of each individual booking
• enable LOC economy to grow stronger with any force-majeure price drops as well as unrelated market oversold conditions (e.g. when LOC price drops significantly while bookings are being generated, this to have a long term beneficial effect on the economy)
• minimize costs and improve pricing on a large percentage of bookings

Introducing LOC Economy 2.0

Major changes require strong arguments. This is why we prepared a 25-page argumentation document, which leads you through our own thinking process and demonstrates how we came up with the solutions. You will notice that we worked a lot with data to verify the effectiveness of each upgrade.

To give you the same experience, we added booking volume/price simulations to the document, so that you can confirm each argument first-hand. Here is a quick overview of the document structure:

1. Exploration of the challenges that accompany our current LOC economy. We have outlined 6 main challenges and enriched your understanding through explanatory visuals.
2. Presentation of our solutions and a detailed analysis of how they affect the challenges outlined in section 1. Comparing the efficiency of the old vs. new economy by taking in 3 key factors and providing graphical representations.
3. Summary of Impact. Listing 12 bullet points that summarize the analysis of section 2.
4. Simulations and a dynamic simulation tool for you to play with. Presenting you a total of 5 pre-set scenarios we’ve made (1 detailed focusing on user base growth with reference to affiliates and viral effect, 1 lightweight version that would be easy to play with, and 3 highly dedicated ones to showcase key effects of the new economy).
5. Conclusion and a short FAQ

Click Here to Open LOC Economy 2.0

We can’t wait to get your feedback on it! Take your time though. We know that the material we present is very information-dense and requires some serious thinking to grasp all aspects of it.

We will be hosting a survey next week as soon as we have the feeling that the concept has been well-understood and discussions matured towards a general consensus.

What do you think? Join our Telegram and tell us!

LockTrip is the first marketplace with 0% commission where you can save on average 20% on your hotel and rental bookings compared to anywhere else. Read how to buy LOC tokens here!