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Crypto-Based LockTrip Travel And Electroneum Partner To Eliminate The MiddleMan From Discount Travel Booking

Crypto-Based LockTrip Travel And Electroneum Partner To Eliminate The MiddleMan From Discount Travel Booking

With the rapidly forming ecosystem that is the blockchain community, many partnerships have recently been gilded. Through strategic alignment for purposes of changing the financial landscape and reigning in crypto adoption, these newly forged bonds amongst different blockchain entities are driving more value to the overall network by creating new and meaningful ways to use and interact with cryptocurrency. Most recently, Electroneum has become the first cryptocurrency startup to partner directly with the blockchain-based LockTrip. LockTrip is a European travel website offering discounts of up to 60% at over 2.1 million vacation destinations in over 190 countries.

Starting today, LockTrip will list Electroneum (ETN) as a direct payment option for Electroneum’s over 4 million registered users worldwide. These users can start booking flights and accommodation right now. As part of this exciting announcement, Electroneum and LockTrip are giving away $1,000 today. More details can be found by visiting the Electoneum or LockTrip sites.

Electroneum founder and CEO, Richard Ells recently commented on the joint venture between the two companies:

“We are thrilled to provide our Electroneum community with more use cases for ETN [and] are particularly excited to expand our ETN ecosystem to include flights and accommodation at very low costs.”

LockTrip is an ecosystem and marketplace that allows customers to search and book flights, hotels and other travel accommodation globally. Using smart contracts to mitigate trust issues, it is the first platform ever to allow customers and property owners the ability to interact without the middleman (or woman). This is just the next step in the evolution of the travel bookings industry, which started with travel agents, then moved to online booking sites such as Trivago, Orbitz, and Hotels.com before now enabling a blockchain component to reduce even more of the cost associated with booking arrangements.

With this new era of blockchain travel booking, payment with ETN on LockTrip is even easier than using a credit or debit card for only purchases. All you need to do is go to the checkout and click on the ETN icon. This will immediately prompt you with a Electroneum wallet compatible QR code. LockTrip also allows for payments with credit or debit cards as well as with several other cryptocurrencies, including Bitcoin, Litecoin and Ethereum.

Last week, the LockTrip team were quoted as saying:

"We are excited to announce a major partnership with Electroneum — a leading project for empowering people in emerging countries and the builders of the freelancer platform AnyTask.com," 

Let’s take a look at LockTrip to explore how it works and the potential savings for users paying with cryptocurrency. The image below shows how much you would pay with LockTrip for a 14-day stay at an airport hotel from November 1st thru the 15th. The total when paying with cryptocurrency comes to around $700. If you pay with a credit or debit card, you pay an additional $15 in fees.

The image below shows how much that same hotel would cost you if you were to reserve via Hotels.com during the same dates. You can already see that it costs just over $52.18 more than on LockTrip.

That same exact hotel on the same dates would cost you the same on Skyscanner than on Hotels.com. In other words, LockTrip is the cheapest and is eliminating the fees built in to the other sites’ models.

LockTrip detailed just how they could offer discounted prices on accommodations "by significantly cutting down on intermediary commissions and by working with leading suppliers around the world. Organic growth, fueled by our competitive prices allows us to bypass expensive marketing budgets." 

Back in 2019, LockTrip claimed to have helped users save up to 17% when booking hotels in Europe and more than 23 percent in the United States. LockTrip noted that popular websites like Airbnb or Booking.com charge hotels a 15 to 30% commission, which later affects guests' final price. They also said that various travel websites use sales pressure tactics that are dishonest and hurt consumer trust over the long term. According to LockTrip:

"We don't pressure-sell with warnings like 'only one room left' or present our members' special deals' that are not special. We believe that respect starts with honesty."

Like many companies who rely upon word of mouth and customer advocacy, LockTrip has an affiliate system that can earn those who register with them an income for life. According to their side, each person you refer will be accredited as your referral for life and will generate you a 3% passive income on all of the bookings they made with LockTrip. This is an excellent incentive for the business traveler crypto enthusiast friends of yours who are constantly jet-setting and seeking ways to save a few dollars for their employers. To learn more about effectively becoming an affiliate partner, visit the LockTrip Academy or the LockTrip Forum

The Financial Times recently quoted LockTrip as being a part of a "new breed of businesses known as DAOs (decentralised autonomous organisations). They are paving the way for an alternative 'trust-based' business model that has the potential to disrupt some of today's dominant disruptors." The news outlet further explained how DAOs are built on the recent movement principles to create the next-generation internet dubbed the Internet of People (IoP), which calls for individuals to have control over their personal information and for a drastic reduction in the role of intermediaries. As a result, DAOs are laying the foundation for new trust-based business models that return data control to users and share profits more equitably. 

As blockchain use-cases are put into practice, the distance between the service provider and the consumer shrinks. The fees typically associated with services are being eliminated. The status quo will be challenged more so in the roadmap ahead with partnerships like that of LockTrip and Electroneum. For the LockTrip mobile app, visit the App Store or the Google Play

Marcus Henry is an American Journalist with over 12 years working in the tech industry. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections, and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL

Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and/or service. Nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.

 

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Bitcoin critic Mark Mobius still bearish on the leading coin, compares bitcoin to a “casino operation”

Bitcoin critic Mark Mobius still bearish on the leading coin, compares bitcoin to a “casino operation”

Quick take

1 minute read

  • There are many critics of the leading cryptocurrency out there. Peter Schiff, a well-known naysayer of the digital asset has been very vocal in the past on his opinion on the King coin. 
  • Others include Mark Mobius, a founding partner of Mobius capital partners who has recently said that he is still bearish on bitcoin.

There are many critics of the leading cryptocurrency out there. Peter Schiff, a well-known naysayer of the digital asset has been very vocal in the past on his opinion on the King coin. Others include Mark Mobius, a founding partner of Mobius capital partners who has recently said that he is still bearish on bitcoin. Last week, Mark spoke in an interview with FN where he said that bitcoin investment is like investing in a casino operation. He highlighted that the spike in the price for bitcoin is a “casino operation based on all sorts of rumours and speculation.“ 

On top of this, Mark highlighted that there is no trustworthy information and data that can be used to predict the next move for any cryptocurrency, specifically bitcoin. 

“Trying to predict the price of Bitcoin is a loser’s game.” 

Many people are well aware by now that bitcoin and other alternative coins are known for their volatility. Not being able to predict the next move that to bitcoin makes could arguably be part of its charm.

Earlier this year in March, bitcoin took a 50% drop in just one day to then slowly recover quickly over the next few months. It is now with over $18,500. A big impact for the coin was the 2020 United States presidential elections between Joe Biden and Donald Trump. During the hectic week of the elections, as everyone waited for the result, bitcoin was quietly improving its price.

But as many people start to come around to the coin and the advantages that it can bring, Mobius still criticises bitcoin at every turn. In the past, Mark has said that bitcoin is more like a religion than a currency to invest in.

More recently, Mark said that the coin has yet to prove itself as a safe haven as it is backed by nothing more than faith and hope. A gold-backed cryptocurrency could be what the world needs instead, as he went on to argue:

“If there is a cryptocurrency that is really backed by gold and there is a meaningful agreement and some kind of modern thing connection, then this could be quite interesting.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Blockchain implementation is only possible through B2B partnerships

Blockchain implementation is only possible through B2B partnerships

Blockchain is one of the most vital technologies in the 21st century and is one thing that most countries have in common. Its emergence has led many experts to believe that it is possible for technology to change the world in a few decades, just as the internet came and changed the world. Although it is still at its early development stages, many companies and countries are employing its use for their processes. The blockchain application seems limitless, as it is used in many processes by varying individuals and institutions. Although the most obvious use of blockchain is in the financial sector - international payments, complex financial products, remittances, and cryptocurrency, it is also used to resolve issues and create new opportunities in defense, supply chain, healthcare, government voting, luxury goods, and management. 

Blockchain advantages for B2B

The role that blockchain plays worldwide is often downplayed. While this statement is true for both companies and users, the technology is a very effective tool in providing business solutions. In addition to the many advantages that come with blockchain, the ones that stand out are security, transparency, accountability, and profitability of B2B ventures.

Unlike B2B, B2C is pretty hard because the customer needs to be educated about the product and the value they may receive from the blockchain. While a business partner would either already know or would be more understanding towards it. A good example is blockchain companies partnering with banks to implement their technology. Online casinos are not left out. They are adopting this technology through their partners as they continue to churn out blockchain-based games. For example, when people find the best Playtech bonuses, it's usually provided through BTC or ETH. Why? Because the games are usually designed to do so.

Blockchain acts as a bank for companies that are involved in the production of goods and services for different companies. Companies use it to send and receive money, accept deposits, sign contracts, and a whole lot more. Many people often either confuse block change to mean just cryptocurrencies or online banks. However, this is not the case. Blockchain is broader than just cryptos and involves many processes that are used differently. The reason why blockchain cannot be considered as an online bank is that even online banks are still powered by central authorities, while blockchain is decentralized.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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CTO of ripple tells all on how much XRP owns

CTO of ripple tells all on how much XRP owns

Quick Take

1 minute read

  • David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.
  • Technically, because he owns such a mass sum, it makes him a whale in crypto terms.

David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.

Technically, because he owns such a mass sum, it makes him a whale in crypto terms.

As one of the original developers and designers of the token and XRP Ledger, David revealed that he would leave his job when the price of the token reaches $1.

David did not disclose the exact amount of the token that he owns however, he did say that it was less than 10 million and more than 1 million. 

As a result of his public tweet explaining his portfolio for the token, the community reacted and questioned why he had very little exposure to the token while other founders of the ledger such as Chris Larsen have billions of the token in their possession.

The token for the San Francisco company has been performing quite mildly over the course of this year. Not much has happened in 2020 for the token but who knows what the future will hold. Many believe that 2021 will be the year for XRP but only time will tell.

Earlier this year, David gave even more details on his cryptocurrency portfolio saying that he regretted dumping such huge amounts of bitcoin and ethereum for cheap at the time. However, he did explain that he did this as a part of a “derisking plan“ that he had contact with his wife.

 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Tyler Winklevoss on BTC: FOMO yet to kick in

Tyler Winklevoss on BTC: FOMO yet to kick in

Quick take

1 minute read

  • One of the brothers of the well-known Winklevoss twins, Tyler Winklevoss has recently said that the spike in bitcoins price that brought it to $18,000 is not yet a FOMO price run. 
  • Speaking in a tweet, Tyler said that the spike in the bitcoins price was due to the steady hands in the overall crypto industry.

One of the brothers of the well-known Winklevoss twins, Tyler Winklevoss has recently said that the spike in bitcoins price that brought it to $18,000 is not yet a FOMO price run. Speaking in a tweet, Tyler said that the spike in the bitcoins price was due to the steady hands in the overall crypto industry. He added that this means many investors are on the sidelines and have yet to get fully involved.

For those that don’t know, FOMO (fear of missing out) is a term used in investments such as cryptocurrency to describe panic buying. When the price of bitcoin starts to rise, many people panic buying due to a fear of missing out.

Specifically, Tyler highlights the stable and steady search term popularity on Google for bitcoin indicating that a spike in Google searches for the leading crypto coin would be a big sign of FOMO kicking in but this has yet to happen.

If you take a look at the Google searches for bitcoin over the past year, it will indicate that the highest it has ever reached was in May this year when the coin hit a $10,000 for the second time in 2020. Since May, there have been numerous prices with fluctuations bringing the price down and up consistently.

Over the course of this year alone, bitcoin has been able to surpass numerous price key resistance levels. Many people believe that the coin is well on its way to $20,000 by the end of the year. Furthermore, institutional investment has been on the rise massively this year with bitcoin being on many corporate balance sheets. This has helped adoption as more people are getting involved with the industry on a daily basis.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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