Lockchain, is a company in development that is being introduced in the market of hotel booking interfaces and private properties. They recently announced on their blog that they had managed to secure 100,000 hotels around the world within its interface.

Lockchain marks what is the entry of decentralized technologies in the hotel industry, a market worth at least 500 billion dollars.

LockChain works with a 0% commission policy and uses blockchain technology to eliminate intermediaries from the reservation process, so the stay in a hotel becomes cheaper for the consumers, as they will not be paying a considerable part of the service to agents such as Airbnb or Booking.

The platform, which is available in alpha will also have a mobile application and a browser version for users. The transactions of the platform will be done using LOC Tokens, they have already been included in many cryptocurrency exchange houses like HitBTC, Meractox, and Etherdelta.

Also, LockChain is receiving positive response and support from several prominent figures such as the case of Rosen Plevneliev, the former president of Bulgaria, who is causally part of the platform's executive panel.

This announcement comes after an initial offer of currency was successful in November of last year. At that time they managed to raise 10,500 ETH, thanks to; 18.5m background of LOC tokens.