The success of former and current clients is our most valuable metric. LockTrip’s recent achievements are an example for all on how being smart with technology can positively impact your business.
Back in 2018, our team collaborated with LockTrip in building their platform and creating a secure, scalable and efficient smart contract environment. The company has seen a 111% increase in bookings for the first quarter of 2023 over the same period compared to the previous year.
How did the collaboration come about?
LockTrip is a blockchain-based travel marketplace that allows users to save up to 60% on their bookings by bypassing middlemen. Therefore, they wanted to create an all-encompassing marketplace based on blockchain to streamline their process. However, they lacked the technical expertise to facilitate crypto-based transactions, so the team turned to Motion Software.
We were happy to provide LockTrip with a distributed team of software developers who created the architecture and entire solution founded on Qtum blockchain technology, then modified with LockTrip’s unique feature set. Motion Software’s team created all the satellite tools, including wallets and explorers, and tuned the flows to ensure further support and maintenance for the test and the main networks.
Additionally, Motion Software recruited and on boarded employees to smoothly take over the project.
LockTrip’s rise
LockTrip has been in business since 2017, but the first quarter of 2023 turned out to be the biggest success for the company so far. A record 3979 room-nights were booked through their marketplace. The total volume of bookings reached $502,000 – an increase of 111% compared to the same period in the previous year – their top markets being Croatia, Serbia, Germany, Bulgaria and the UK. However, looking at the continental distribution, the most impressive increases were recorded in North America, doubling its share from 6.4% to 15.4%.
LockTrip’s payment methods
Regular crypto payments on the platform accounted for 2.6% of all bookings. Hydra-Native payments (incl LOC, HYDRA, CHANGE and GOMT accounted for 0.8% of the total – an admirable result considering that this method was just first introduced on March 15th.
“Our partnership with Motion Software was crucial to the early development of our blockchain protocol. Their team demonstrated the highest level of professionalism and flexibility. I strongly recommend working with them.”
— Nikola Alexandrov, CEO of LockTrip