Lockchain
Lockchain
Token: LOC


Blockchain & fiat powered marketplace

ICO dates
Start date: 2017-10-29
End date: 2017-12-01

Registrated in: Bulgaria

Platform: Ethereum

PREMIUM ICO

https://lockchain.co/ Screenshot
Lockchain categories
Tourism
Lockchain whitepaper
Video
Lockchain token sale
KYC passing required No | Whitelist No | Restriction for countries No
Soft cap 20 000 ETH
Hard cap 32 000 ETH
Token distribution in ICO
50%
50%
Acceppting BTC, ETH, LTC
Lockchain news, social
Lockchain search trends in Google
Random whitepaper excerpts

Contents
1. Executive Summary 3
2. Introduction 4
3. The Decentralized LOC Ledger 6
4. LockChain.co’s marketplace 11
5. Market Overview and Competition 16
6. The LOC Token 23
6. Strategy 25
7. Short term Road Map 26
8. Token Sale 27
9. Our Team 32
10. Legal Notice 37
...

1. Executive Summary
Abstract
- We design and build Lockchain, a de-
centralized open source bookings ecosystem for
renting hotel rooms, private properties or accom-
modation (the decentralized LOC Ledger). Lock-
chain will be the first system which allows end
customers and property owners to deal with each
other on the platform without any fee or commis-
sion. In addition to that, we will build LockChain.
co - which will be the first marketplace/applic-
aiton that will connect with the decentralized
engine (The LockChain.co Marketplace). The
decentralized system will hold the LOC booking
ledger which will be the core of the engine.
Existing platforms (e.g. Booking.com, Airbnb.
com, Expedia.com) are currently centralized
and take fees from the property owner and/or
the end customer. Additional middlemen are the
payment processors. All listings and deal param-
eters on Lockchain will be decentralized on the
Ethereum blockchain, eliminat...

2. Introduction
Crypto-currencies are still in childhood phase,
and blockchain technology provides a world of
possibilities for practical applications that extend
far beyond the financial sector.
LockChain embraces this technology to open
a decentralized marketplace in the travel and
tourism sector.
Harnessing existing technologies and concepts –
hotel and accommodation listings, online booking
and purchasing, and by building the first integrat-
ed marketplace that uses the decentralized LOC
ledger, LockChain.co will challenge the market
dominance of online travel agents, payment pro-
cessors, and metasearch aggregators.
LockChain provides a platform that charges
no
commission
to the accommodation and property
rental sector.
The market of crypto currencies has exceeded
US$150 billion at the time of writing this
whitepaper.
For a rough comparison that may serve useful,
total world hotel revenue is at around
...

decentralized LOC Ledger by the end of 2017.
LockChain’s goal is to deliver on
its promise of providing
accommodation deals, and
travel and tourism related
listings, at far less expense than
the online travel agents who
currently occupy the space.
We at LockChain plan to do that by eliminating the
need for middlemen and their credit
processing partners entirely, through the utilization
of more advanced and affordable blockchain
technology and by integrating that technology with
an immediately accessible marketplace that will di-
rectly compete with the established market leaders.
This can be achieved by creating a bridge
between two already existing technologies in order
to improve an already established business model
which is in higher demand than ever.
That does not necessarily mean cutting all other
forms of payment out entirely, but instead
eliminating the need for them and presenting as an
alternative an up-to-date techno...

3. The Decentralized LOC Ledger
The Decentralized LOC Ledger
is the engine
that regulates all transactions and relationships
between the hotels/property providers and the
clients. In its core, there are going to be rules and
operations governed by smart contracts which
will be deployed in the Ethereum Virtual Machine.
The LOC Ledger will keep record of all transac-
tions and will regulate the transaction executions
through client/host driven smart contract triggers.
The LOC Ledger will run solely with the native
LOC token and any application that wishes to
connect to the engine will have the freedom to
provide added value services such as support
of additional payment methods which they can
convert into LOC at the time of the booking.
This can be done either through integration to
external exchanges or by converting the
currencies themselves with an internal algorithm
Some of the operations (but not limited to) the
decentralized LOC le...

Client Side
John
John browses through the
available hotel listings on
Lockchain.co and decides
to book a stay with the
Hilton with his EUR
credit card
Why you should buy the LOC token?
1. You get access to decentraized technology
that will be open to the public
2. You get immediate access to the LockChain.co
marketplace which will be fully implemented with
the decentalized LOC Booking Ledger
The decentralized LOC booking ledger
Hotel / Host Side
Hilton
Hilton withdraws their
accumulated balance
from the lockchain.co
marketplace in EUR by
using the built-in exchange
algorithm that places a
SELL order for LOC
Lockchain.co has as built in
algorithm that convers John’s
payment instantly to LOC
by placing a market buy
order for LOC
Lockchain.co also holds
a mirror local database of the
decentalized ecosystem for a
user friendly immediate
service
Info...

The marketplace will serve as a proof of concept
and a place where anyone who takes part of our
token sale will be able to spend his LOC.
It will also provide an interface to hotel and
property owners to connect with the
decentralized LOC Ledger and list their
properties.
4.1 WHY BLOCKCHAIN TECHNOLOGY IS
NECESSARY FOR THIS PROJECT?
We are witnessing a steady increase in the
number of projects that try to launch their token
sales without actually needing blockchain
technololgy, which we believe is a major red
flag. This is why we find it utterly important to
explain why blockchain is
absolutely necessary
for our project and how its value depends on it.
It can be stated, that the value of an online
accomodation service provider can be divided
into 4 main sub-categories:
- The Price of the accommodation
- The quality and the size of the database (hence
the number of found properties with a single user
search)
- The sp...

Because of a unique feature that each marketplace would possess - the shared decentralized database,
the value of the LOC ledger would grow exponentially. When marketplaces add/list new properties to
the database, these properties will be inserted into the blockchain.
For example:
Steve’s Marketplace adds 1000 properties in January
Mike’s Marketplace adds 1000 properties in January
John’s Marketplace adds 1000 properties in January
The LOC ledger would hold 3000 properties in the end of January making it much more attractive for
any newcoming marketplace. For anyone who would connect to it, this would lead to a marginal
increase of 3000 properties from day 0 with zero investment on integration.
The result from the perspective of each marketplace owner is that they add
1000
properties (and spend
the resource/invest into adding those 1000 properties), and they get
3000 in return. This is furthermore
empowered by the fact that integration is done on regional level, and th...

Lockchain Roadmap

1
April 2017
Development Started
2
September 2017
Testnet Launch
3
3 October 2017
LOC Token ICO Pre-Sale Launch
4
29 October 2017
LOC Token ICO Main Sale
5
Nov 2017
LOC Ledger Alfa Version Launch with 300 pilot properties
6
Q1 2018
LOC Ledger Beta Version with 7000+ properties
7
Q2 2018
Main LOC Ledger Launch with 15+k
Nikola Alexandrov
Team Nikola Alexandrov CEO & Founder

Hristo Tenchev
Team Hristo Tenchev COO & Founder

Rosen Plevneliev
Team Rosen Plevneliev Chief Advisor

Svetlin Nakov
Team Svetlin Nakov Tech Advisor

Georgi Spasov
Team Georgi Spasov Solidity Expert

Nikola Stojanow
Team Nikola Stojanow Advisor

Nevena Petrova
Team Nevena Petrova Head of Business Development

Georgi Matev
Team Georgi Matev Legal Advisor

Eva Maydell
Team Eva Maydell Advisory board (pro-bono)

Vince Meens
Team Vince Meens Advisor

Marco Calicchia
Team Marco Calicchia Community Manager

Stoyan Angelov
Team Stoyan Angelov Community Manager

Ivan Yonkov
Team Ivan Yonkov Software Engineer

Falco Pangkey
Team Falco Pangkey Netherlands Operations

Ivan Nikolov
Team Ivan Nikolov Advisor

Prerit Srivastava
Team Prerit Srivastava Solidity Expert

Jon Abrams
Team Jon Abrams Canada Operations

Richard Gibney
Team Richard Gibney Copywriting & PR

Tanko Geritliev
Team Tanko Geritliev Senior Developer

Nikola Alexandrov
Nikola Alexandrov
CEO & Founder
CEO & Founder
BUSINESS OPERATIONS ADVISOR
Hristo Tenchev
Hristo Tenchev
COO & Founder
COO & Founder
TECHNOLOGY ADVISOR
Rosen Plevneliev
Rosen Plevneliev
Chief Advisor
Chief Advisor
Svetlin Nakov
Svetlin Nakov
Tech Advisor
Tech Advisor
Advisor Founder of Softuni
CHIEF BLOCKCHAIN ADVISOR
Georgi Spasov
Georgi Spasov
Solidity Expert
Solidity Expert
Nikola Stojanow
Nikola Stojanow
Advisor
BIZDEV ADVISOR
BUSINESS DEVELOPMENT
Nevena Petrova
Nevena Petrova
Head of Business Development
Head of Business Development
Krassy Kalcheva
Krassy Kalcheva
CFO
Georgi Matev
Georgi Matev
Legal Advisor
Legal Advisor
Eva Maydell
Eva Maydell
Advisory board (pro-bono)
Advisory board (pro-bono)
Vince Meens
Vince Meens
Advisor
Marco Calicchia
Marco Calicchia
Community Manager
Stoyan Angelov
Stoyan Angelov
Community Manager
Community Manager
Senior Advisor
Ivan Yonkov
Ivan Yonkov
Software Engineer
Software Engineer
Falco Pangkey
Falco Pangkey
Netherlands Operations
Netherlands Operations
Ivan Nikolov
Ivan Nikolov
Advisor
Prerit Srivastava
Prerit Srivastava
Solidity Expert
Solidity Expert
Jon Abrams
Jon Abrams
Canada Operations
Canada Operations
Richard Gibney
Richard Gibney
Copywriting & PR
Copywriting & PR
Tanko Geritliev
Tanko Geritliev
Senior Developer
Senior Developer