[ANN] LockChain [Pre-Sale 29.09] | Decentralized Booking & Vacation Marketplace

[mescalito]

Co founded by Hristo Tenchev, I wonder if the raised funds will disappear like in case of bitcoin7

[1714972938]

1714972938

[1714972938]

1714972938

[1714972938]

1714972938

[StarSLight]

The project is moving to success every day faster. I like to watch the development, the team is trying and working well! Well done!

[Lockchain.co]

Hey everyone, thanks for your support!
Our team is active almost at any time in the Telegram channel, you are welcome to join us there and ask us anything - https://t.me/joinchat/F3YOYQx123PO4FPfNRPihQ

Mind that Pre-sale ends this Sunday 29th Oct at 16:00 GMT!!

Get your LOC with 33-52% Bonus until then - www.lockchain.co


We’ve been receiving regular questions about the core value of the LOC token and how its economy will affect its aftermarket.
This is why we are writing this post, dedicated to the LOC token economy and the factors that affect it.

Before we start, we want to elaborate and provide examples of the specific questions that were brought in this regard:

• “How is the LOC token going to perform over time?”
• “Will the LOC value increase on the aftermarket?”
• “What is the core value of the LOC?”
• “Why should I buy the LOC token?“
• “How do you (the company) profit if you are not charging any commissions on the bookings?”
• “When are you going to integrate with an exchange after the tokensale?”

As probably most of the readers already know, the price of any token is the result of the balance or dis-balance between the supply and demand for that token on the market.
In simple words, we have people that want to buy it on one side, and people that want to sell it on the other side. These two sides interact with each other and if they are in a balance, then a price equilibrium results, which would mean that the price of the token would be unchanged until this state is dis-balanced. If however one of the sides has dominance over the other and there is a dis-balance, the price either starts to increase (in case there is more buying pressure), or it decreases (if there is more selling pressure). There are many factors that affect the buying and selling of the token, and they can all be described as the building parts of the token economy.

In our case, we want to emphasize on critical elements of the LOC token economy that are important to understand and how they favor the demand over supply:

1. Token Generation Key Metrics

The first and foremost important elements of any token are its generation event key math metrics:

• Total Supply / Hard Cap — in general the lower the hard cap is, the better because this creates digital scarcity. LOC has a hardcap of 32,000 ETH which is approximately $8M–$9M. This is specifically important with the present oversupply of projects. The less people can get in at the beginning, the more there would be after that willing to buy with a premium and vice versa.
• Distribution and Team Vesting —LOC Public sale is equal to 50% of total circulating tokens regardless if hard cap is reached or not. Team, advisors and reserves have a 1 year vesting to ensure they don’t affect the aftermarket (and that they don’t favor supply over demand)
  Unsold Tokens Management — In case we don’t reach the LOC hardcap of 32,000 ETH, any unsold tokens will be destroyed. This ensures that in worst case scenario, where hard cap is not met, the total sold and circulating LOC on the aftermarket will not be greater than the initial demand that took place during the token sale event. Some companies keep any unsold tokens for themselves, which we consider as a red flag.
  
• Smart contract and Purchase process — This is the actual process through which the token is generated. Some companies have the possibility to create tokens with a push of a button, whereas in our case, LOC can only be generated as a result of incoming ETH. This is an extremely important factor as it defines the resistance/tolerance of the token to panic sellouts and price decline in general. It also limits us from offering any discounts to big investors, because simply, mathematically we can’t create the LOC that we would need to deliver as a discount even if we wanted to. Anyone can validate this by looking at the source code of our smart contract on github here.
  
• Discounts on big/whale investors — this question is specifically important and is related to the previous point “Purchase process”, because it represents the risk of someone who could have possibly gotten a much better buying price on the token and would consequently be prone to selling that bulk volume at a market discounted price at early stages of the aftermarket, which could tip the dis-balance in favor for the supply and thus trigger a downtrend or a panic sell. In our case, and as outlined in the previous point, LOC can be generated only as direct result of ETH. Even when we receive bank wire payments, we exchange that fiat money into ETH (on behalf of the buyer) and then we send the ETH to our smart contract. This is because there is absolutely no other way for LOC to be generated.
  

2. LOC Core Value

• Sound Business concept — We have a clear business concept and our vision is driven by specific plan of actions that will lead to solving an existing problem — how to make accommodation 20% cheaper and to cut out middlemen with low added value without compromising quality of service and user experience.
  Straightforward plan of action — We are launching an alpha version of the marketplace where people can spend their LOC as soon as Oct 2017 on properties that will be 15–20% cheaper than the competitors.
  
• Dependency on external companies — We are actually launching two projects simultaneously — on one hand, the market application which will provide the retail service to people who want to book a stay, and on the other hand, the decentralized booking engine (the LOC Ledger) which will be open source and free to use. The two projects create a self sufficient relationship and create a user friendly retail ready experience for end users that would not put the LOC token to rely on any adoption of the technology at the beginning in order for an immediate proof of concept.
  Team credibility & experience — Our team is extremely experienced, and our project is the only one in the world who is backed by a former president of a EU member country.
  
• Market potential & Founders’ incentive — 500 Billion USD growing industry. It is also extremely important to look from the perspective of the founders. With LockChain, we do not strive towards maximum profitability of the market application providing the booking service (hence offering a 0% Commission on revenues). Instead, our goal is to make the market application as disruptive as possible in order to be able to compete with current established market leaders and grow as a market share. This on its end to increase the adoption of the LOC token, from where team and founders will be incentivized. This interest is perfectly aligned with the interest of the contributors who buy the LOC token during the tokensale event.
  

3. Differentiation from Competitors

• Why we are different — We are the first project to focus on building a 0% commission on Revenue accommodation marketplace. We believe we are different because of the unique business demand driven approach that we are applying, in order to achieve market penetration, and service adoption in this ultra competitive niche. Our plan to build the marketplace, together with the decentralized engine and shared database, is immediately valued by hotel and property owners (because they are the ones paying the commissions and looking forward to being part of an ecosystem which does not charge them). This is how we want to create a new kind of accommodation supply. After creating the supply, we will market to end buyers and we will rely on the viral effect that the extremely high value service will create, due to the price sensitivity of the end customers.
  
• How we are different — By focusing not only on the blockchain technology, but also on the gaps between the blockchain and the end users and building in addition a centralized application that will be the bridge between the two and by providing a user friendly environment. Also because we are making one step at a time and we are measuring our steps very carefully based on the extensive business experience that we have from before. We believe many of the current companies are taking an idealistic approach which is more often than not, overly-obsessed about decentralization while neglecting user experience and the big picture in general in terms of established market leaders and user behavior.
  
• Community of end users — Our collective community is approximately 14,500 users at the time of writing this post. The number of people actively discussing the project in our Telegram channel just reached 1,000 members. Approximately 55% of the LOC contributors are small time retail buyers, of which, approximately half are also potential end users of the booking marketplace. We have both travel lovers and hotel owners buying 1–2 ETH worth of LOC just because they want to see us succeed. We have also been receiving thankful letters from hoteliers around the world which is a testament to the level of support which they are willing to make. This also has its significant implication on the aftermarket of the LOC token, because those buyers are not looking for immediate gains (such as most speculators) and because they are long term and have stronger resistance to price swing volatility.
  

4. Circulation of the LOC Token

• How the service pushes token circulation and what its implication is on supply and demand.
  Booking Service and its effect on the token — LOC is used for every single reservation (regardless if it will be in fiat payment/payout or in LOC). Even if the end user does not realize that and places a reservation in fiat, our exchange algorithm will convert the fiat into LOC and will send it to the smart contract. This means that the LOC will be taken out of the market circulation for the duration between the booking request and the check-out of the guest. There is an extensive post on this regard, made by Hristo Tenchev (COO of LockChain) and we urge you to read it thoroughly by clicking the following link . The circulation of the token tips the disbalance in favor for demand and generally speaking, the more people place reservations in LOC, the higher this effect will be. This is also the reason why we want to make the service disruptive (0% commission). We believe the token has a much stronger increase potential that could offset any potential lost profits from the retail booking market application itself.
  
• Liquidity — Since we plan to provide fiat payments for the end customers who wish to place reservations on our marketplace, we need to integrate the LOC with a liquidity aftermarket provider. This is why we are negotiating with almost all exchanges at the moment. Our plans are to integrate with at least 2 exchanges immediately after the end of the tokensale (Dec 2017).
  

5. Censorship Resistance

This is generally associated with the resistance of the decentralized technology to any external factors that could affect its development or to shut it down completely
Decentralized LOC Ledger DAPP — The LOC ledger will be completely decentralized and there will be no “off switch” to it. No one can’t buy it and place an end to it. It will encompass in it the rates, availability and database of the booking service which would practically make it a turnkey “plug-in” service for any application that would like to connect and start offering booking services in LOC (or in fiat if it processes immediate exchange into LOC like we plan to). Even if in case the market application is shut down (for whatever reasons that might be) the decentralized ledger, the booking service and its database will continue to exist for all other applications that would connect to it.
Conclusion
LockChain (LOC) is a combination of an extremely demanded business driven service, $500 Billion growing market and a carefully designed decentralized technology with a token economy that could potentially create a positive dis-balance in favor for the demand on the aftermarket. We like to think of our project as being unique for the reason that it aligns the interest of accommodation clients and accommodation hosts without affecting the value of the service itself and profitability.


For more information on the project check out www.lockchain.co and our blog https://medium.com/@LockChainCo

[paladium]

The holiday idea is really good. If the use is published, we will be able to use it easily in all countries.

[baby222]

Lockchain is  launching the alpha version before the end of the month. Property listing will be added shortly after that.

[daniweb]

How will the value of this coin grow? Proportional to the growth of the company/platform? Can it be possible that the coin would grow to 100-1000 (theoretical) or are there any limitations that prevent this?

[Orias67]

It's a shame this seems to be a good project with a nice idea but this thread is so inactive... I will make an investment because I believe it can work, bu maybe you should make something to make your thread more visible

[Arya Aditama]

very interesting your project this, but i has read in your thread i did not look about item of ICO information, this ICO will launching or no maybe you can explain more about your plan to make your project development

[l0uisStanley]

what happens if not enough Lockchains are sold out by the end of this month?

[maryhansenn]

FYI Indonesian government now focusing on Travel Industry. So many new tour destination emerge in media and people still looking for more information.

it will be a good opportunity to penetrate this sector.

[mcfom]

what happens if not enough Lockchains are sold out by the end of this month?

This project already raised more than 25% of the soft cap and I hope they will get succeed to attract the more investors in coming day potentially this market is very huge and investors has good chance for attractive ROI in future.

[StinchcombNancy]

how lockchain token will increase in value after you launch the platform?
what is the usecase of tokens?

[nexus20001]

how many eth have been raised?

[ProxyMoxy]

This seems interesting, thinking about joining the project.

[FleurTunisienne]

This seems interesting, thinking about joining the project.

It will a big opportunity for every investor to join this ICO. They are working on lunching prototype before the end of the token sale. I can beleive in credibility of the working team. Does there any bounty for this project?

[cabron]

This seems interesting, thinking about joining the project.

It will a big opportunity for every investor to join this ICO. They are working on lunching prototype before the end of the token sale. I can beleive in credibility of the working team. Does there any bounty for this project?

If you are trying to learn if there is a bounty campaign on every ICO, check the first page as they usually post it there.

https://bitcointalk.org/index.php?topic=2217092.0;topicseen

That is the bounty thread they've had. If I were just not in multibot I would have joined this one as the idea seem to be fitting for the youth today that keep travelling and seeing places.

[Cryptojeesus]

Really excited for this project!  Waiting to see their marketplace alpha that is coming by the end of this month https://lockchain.co/marketplace/
Check out also the news from them.

https://medium.com/@LockChainCo/we-are-excited-to-announce-our-partnership-with-softuni-a687df4a996a

https://medium.com/@LockChainCo/we-are-working-day-and-night-on-the-back-end-of-lockchains-property-marketplace-9f5f30d95f9f

https://medium.com/@LockChainCo/we-are-excited-to-announce-our-third-partner-for-this-week-welcome-onboard-safecharge-c852238d3bd0

[NotAlberMurphy]

Be careful what you invest in! These guys are very dodgy and use fake articles to create ICO hype.

Proof: http://telegra.ph/Lockchain-and-the-Bulgarian-Cryptoscammers-11-17

[gerd1986]

Wow these guys are rude.

I admittedly missed the first big 'whitepaper' button on the website when you land and couldn't find it again. So they have this helpful live chat button and asked if it was POW or POS. What I was met with was unbelievable, here is the transcript. I could never invest in a company that treats investors like this, what would they treat the customers like? A simple 'have you read the whitepaper' here is a link to it, would have done just fine.

Chat with us

Choose Files

Hello . We're here in case you need any additional assistance!
21:08
Is the coin POW or POS?
21:16
Hello
21:16
no
21:16
You have 2 payment options - Bank Wire (fiat money) and Etherium (crypto). Do you know which method payment you want to go for?
21:16
I want to know if the coins will be proof or stake or proof of work before I buy
21:17
Of
21:17
Well, I am surprised then that you have done zero research so far
21:17
At least visit the marketplace, which pre-alpha version was launched 1 month earlier than the roadmap and people are already using the LOC tokens to book Christmas stay...
21:18
What can I say...
21:18
The contributors usually have a look at the website and check the Whitepaper as a starting point. I am sorry I shared my surprise
21:19
Can I ask you something?
21:21
Sure
21:21
Why do you not have a link anywhere to the Whitepaper on site once you leave the first page?
21:25
I admit should have see the big button when I first came on, but I navigated elsewhere then looked for the whitepaper
21:26
Couldn't find it anywhere
21:26
Because no one use links anymore
21:28
It's buttons https://i.gyazo.com/7633b63d712c659f71d91d433b45b32c.jpg
21:28
On the top positions of the website landing page
21:29
Impossible to skip
21:29
Links are less easy not to see
21:29
In the menu navigation there is no 'home' to take you back
21:29
To the top
21:29
So the only option not to see the 2 huge buttons leading to our downloaddable white paper is if you are looking specifically for a link
21:30
which you will find in no website
21:30
Anyway, manners cost nothing
21:30
It is old-scool and not practical
21:30
Good luck with your ventute
21:30
The home is the Logo - this is a trend in the navigation for the past 5 years
21:31
developed as a feedback from the users
21:31
UX (user experience)
21:31
Is there anything you want to ask about the project or you the website is at your focus at this stage of your research?
21:32
Nope that's it, based on this conversation I will give it a miss.
21:33
Thank you for showing interest in our website. Cheers!
21:33

Say something...
Powered by tawk.to

[arcadian]

How is it going so far? I just came across this project and want to know the progress