{"id":3278,"date":"2022-03-05T18:33:39","date_gmt":"2022-03-05T18:33:39","guid":{"rendered":"http:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/lockchain-whitepaper\/"},"modified":"2022-03-05T18:33:39","modified_gmt":"2022-03-05T18:33:39","slug":"lockchain-whitepaper","status":"publish","type":"post","link":"https:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/lockchain-whitepaper\/","title":{"rendered":"LockChain Whitepaper"},"content":{"rendered":"<div id=\"post-914\">\n<div class=\"entry-content\" readability=\"52.880672268908\">\n<p>Abstract<\/p>\n<p>We design and build LockTrip, a decentralized open source bookings ecosystem for renting hotel<br \/>rooms, private properties or accommodation (the decentralized LOC Ledger). LockTrip will be<br \/>the first system which allows end customers and property owners to deal with each other on the<br \/>platform without any fee or commission. In addition to that, we will build LockTrip.com \u2013 which will<br \/>be the first marketplace\/application that will connect with the decentralized engine (The LockTrip.<br \/>com Marketplace). The decentralized system will hold the LOC booking ledger which will be the<br \/>core of the engine.<\/p>\n<p>Existing platforms (e.g. Booking.com, Airbnb.com, Expedia.com) are currently centralized and<br \/>take fees from the property owner and\/or the end customer. Additional middlemen are the payment<br \/>processors. All listings and deal parameters on LockTrip will be decentralized on the Ethereum<br \/>blockchain, eliminating all middlemen and guaranteeing transparent execution.<br \/>For Property Owners<\/p>\n<p>LockTrip.com marketplace\u2019s web and mobile clients will present an easy-to-use interface to add<br \/>and edit their listings on the decentralized LOC Ledger. One-click solutions for transferring current<br \/>listing from other platforms will be provided for maximum comfort. Traditional payment methods<br \/>(e.g. credit cards, PayPal) will also be supported as an option because the LockTrip.com marketplace<br \/>will have a built-in algorithm that will execute automatic conversion of all external currencies<br \/>into the LOC utility token. The synergy between the LockTrip.com marketplace and the decentralized<br \/>LOC Ledger provides an ecosystem that is self-sufficient and powerful enough to compete with<br \/>the best service providers in the $500 Billion accommodation sector.<\/p>\n<p> <a href=\"https:\/\/web.archive.org\/web\/20201112022803\/http:\/\/lockchain.co\/\"> LockChain Website<\/a> <br \/><a href=\"https:\/\/locktrip.com\/whitepaper_v1.2_t.pdf\" target='_blank\"' rel=\"noopener\"> LockChain Whitepaper <\/a> <strong><\/strong><\/p>\n<p>Social<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Abstract We design and build LockTrip, a decentralized open source bookings ecosystem for renting hotelrooms, private properties or accommodation (the decentralized LOC Ledger). LockTrip will bethe first system which allows end customers and property owners to deal with each other on theplatform without any fee or commission. In addition to that, we will build LockTrip.com [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3278","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/comments?post=3278"}],"version-history":[{"count":1,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3278\/revisions"}],"predecessor-version":[{"id":3279,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3278\/revisions\/3279"}],"wp:attachment":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/media?parent=3278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/categories?post=3278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/tags?post=3278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}