Proof of Usefulness Report

Lokcom

Analysis completed on 2/21/2026

+34
Proof of Usefulness Score
You're In Business

Lokcom Networks (est. 2015) offers a legitimate hardware solution for retrofitting locks with cellular (M2M) connectivity, addressing a real problem in niche B2B markets like elderly care and vacation rentals. However, the submission is heavily penalized for demonstrably false traction claims ('most people have used my product') and confusing financial data ('marketcap: 50000'). After 9 years of operation, the company appears to have minimal scale (<$500k total funding, <10 employees) compared to the 'everyone' audience claimed. The technology has merit, but the business execution and submission credibility are poor.

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Score Breakdown

Real World Utility+18.75
Audience Reach Impact+2.0
Technical Innovation+9.75
Evidence Of Traction+1.25
Market Timing Relevance+4.0
Functional Completeness+0.5
Subtotal+36.25
Usefulness Multiplierx0.94
Final Score+34

Project Details

Project URL
Description
Lokcom Networks is an IOT technology company enabling a door to be unlocked using a mobile device either standing in front of it or from anywhere in the world. Lokcom does not sell smart locks. Through our proprietary technology and cloud-based platform, we enable a mechanical lock to behave like a smart lock and to be unlocked using a smartphone or PC. This makes us different from others: there is no need to install a smart lock nor is there a need to throw away the key. The Lokcom digital key on the smartphone can be used alongside the physical key to unlock the door. The biggest difference from all other products is that our system can allow you to unlock the door from anywhere in the world – you don’t need to be standing in front of it. The Lokcom platform also gives total control over who is given permission to unlock doors using a smartphone. You can even set a time period for when the door can be unlocked. Lokcom technology is highly secure. This is because we use a closed M2M network. This means we are not reliant on open and discoverable networks such as Wi-Fi or Bluetooth or NFC, all of which can be interfered with. Lokcom’s technology is currently being used in various sectors including Vacation Rental/Aparthotels, Elderly Healthcare, Leisure, Real Estate Management and soon to be used in Home Automation market. For more information please watch: https://www.youtube.com/watch?v=VH2SS-J1yEU

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline