Singapore-headquartered Locus Chain Foundation has signed a strategic partnership agreement with Let’s Fly Free, a leading innovative travel and tourism company in India for developing a next generation blockchain protocol, to introduce Locus Chain digital currency as a mode of payment in the travel and tourism industry. The introduction of blockchain technology is expected to revolutionise the USD 8.1 trillion global travel and tourism industry.
Let’s Fly Free has more than one million paid users and average monthly revenue of USD 40 million since its launch in February 2018. With this strategic partnership, Let’s Fly Free users will be able to make payments for memberships and travel packages using Locus Chain digital currency. Following the launch of its main net, Locus Chain will also build a customer management system for Let’s Fly Free.
Rajendra Alapati, CEO of Let’s Fly Free, “Our business model is built on our keen understanding of people’s demand for high-end luxury travel products; Let’s Fly Free enables customers to buy luxury overseas trips based on regular, small-scale accumulation. This has been core to our explosive growth; and our strategic partnership with Locus Chain will expand our footprint in the global travel and tourism industry.”
Locus Chain uses Account-Wise Transaction Chain (AWTC) and Dynamic State Sharding technology to improve the transparency, reliability and scalability of its platform. The partnership is built on the practicality of Locus Chain’s blockchain platform, which has been designed to eliminate loopholes in existing blockchain by maintaining transaction speed and safety regardless of the number of users in the network.