Launched by a very experienced team, Chain4Travel builds a blockchain-based ecosystem, providing a stable and secure platform for B2B and B2C leisure travel products. The freshly raised capital ensures rapid growth for the company as well as the launch of its blockchain and first applications later this year.
Chain4Travel is pursuing an innovative concept for the use of blockchain technology in the international travel industry: on the platform tourism partners will be able to efficiently trade and purchase a variety of services on the platform, ranging from hotel rooms and rental cars to even a cup of coffee on a flight, using a set of simplified processes. In addition, travel partners can find all the information they need to effectively sell travel on the platform.
Joining companies will be able to rapidly complete transactions with blockchain partners within seconds and at low transaction costs. Participating node operators and service providers in the blockchain are uniquely identified and networked via the Know Your Customer (KYC) process.
Chain4Travel's executive team includes CEO Ralf Usbeck, founder of TravelTainment and Peakwork, as well as COO Thomas Stirnimann, former long-time CEO and now supervisory board member of leading Swiss tour operator Hotelplan, as well as former Hotelplan CIO, Pablo Castillo, now CTO of Chain4Travel. Anke Hsu has been recruited as Head of Business Development. The blockchain and tourism expert most recently worked at the TUI subsidiary InteRES, where she focused on the digital transformation in flight distribution. Chain4Travel AG draws on multiple decades of experience in the travel industry, the digital market, the financial sector and the blockchain sector through its team of advisors.
The project has already won more than 50 supporters from the travel industry worldwide and more than 100 partners from the tourism and IT sectors are expected to develop and access applications on the new network this year. Initial capital providers include various market players who add direct value to the platform. In addition to Baar (Switzerland) and Düsseldorf (Germany), other Chain4Travel subsidiaries are currently being set up in the USA, Asia and South America.
In the future, the blockchain named "Camino" will be operated and managed by travel industry partners and be economically accessible to all participants. To enable this decentralized approach, Chain4Travel AG will transfer the entire intellectual property (IP) rights as well as the financial reserves to a dedicated foundation. The network will belong to the participating travel companies and will be protected against possible takeovers. The participating blockchain node operators will manage the network via voting rights.
The pre-sale of the Camino token is already planned for the summer months of July/August, in which all interested travel companies can participate. Furthermore, an Initial Coin Offering (ICO) is scheduled for the end of the year, where anyone interested can purchase Camino's new currency at a low price.
(Press release / SK)
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