After the recent launch of the Blockchain focused on Camino Network, inherited travel companies are turning to a web3 future.
Cointelegraph spoke with Airlines leaders based in Europe Lufthansa and Eurowings – Two of the first companies to use the Camino network – to understand how web integrations bring this industry at its next generation.
Johannes Walter, head of channel partners of the Lufthansa group, said that he thought that “decentralization and tokenization” will create opportunities for new commercial models and relationships, “the creation of more direct strategic partnerships and improve transparency to the creation of new flows of income and the improvement of customer experience”.
“We aim to fully understand space to create long -term value for our customers and partners who align with our brand strategy.”
The data of a statist’s report in 2021 show that the contribution of the travel and tourism industry to the global gross product was around 5.8 billion dollars that year.
Jens Bischof, CEO and chief of Eurowings customers, has echoed this feeling, affirming that the travel industry is one of the “largest industries in the world”, which deals with large quantities of “sensitive data” every day.
“Web3 offers Eurowings a way to respond to these requests in a profitable manner and with maximum security.”
Bischof also commented that the company currently investigated how to use the blockchain for customer loyalty.
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Other companies in the travel industry have already used blockchain -based solutions in their operations before the launch of Camino. Air Canada and Etihad Airways have both joined the blockchain of winding trees for product distribution purposes without the need for third parties.
Despite increased adoption, Bischof stressed that a deterrent in mass adoption is the lack of clear regulation.
“However, as major players around the world adopt web3 technology and European institutions are at the forefront of cryptographic regulations (Mica), we are examining a promising future to advance our (industry).”
European legislators recently gave their final blessing to the European Union markets in crypto-active legislation. This also occurs while local legislators consider another legislation called the AI Act to regulate the development and deployment of artificial intelligence.
Other potential use cases of web3 technologies integrated into the travel industry have already started to appear. The use of Metaversse was discussed to “inspire travelers” before making a trip to what a given destination has to offer via virtual experiences.
Non -fascinable tokens have also been on the table to be used as NFTICKETS, which could allow income increases for airlines via secondary market remains.
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