Blockchain for the travel industry: Chain4Travel closes seven-digit seed investment

Tech startup Chain4Travel has successfully closed a start-up financing of 4.3 million Swiss francs. The newly raised capital ensures rapid growth for the company as well as the launch of its blockchain and its first applications later this year.

Chain4Travel pursues an innovative concept for the use of blockchain technology in the international travel industry: The goal is to build a blockchain-based ecosystem that provides a stable and secure platform for B2B leisure travel products and B2C. Tourism partners will be able to effectively redeem and purchase a range of services on the platform, ranging from hotel rooms and rental cars to even a cup of coffee on a flight using a streamlined set of processes. In addition, travel partners can find all the information they need to sell travel efficiently. Information such as hotel and room type mapping, health and safety, Covid updates, current event and restriction alerts, regional information and more will all be transmitted live to the platform and available in the form of NFT. All business partners working with the platform will be able to access this valuable travel data in a standardized and secure way. This versatile network reliably maps current business models, profitably and efficiently ; in particular, it also provides a solid foundation for launching new leisure travel products and innovative transactions.

Technical benefits: Node operators and service providers participating in blockchain are uniquely identified and networked through the Know Your Customer (KYC) process, significantly reducing the effort required in the negotiation phase of future transactions. Joining companies will be able to quickly trade with blockchain partners in seconds and at low transaction costs. In addition, the details of the trip, such as checking availability, will be possible via technology. There will be benefits for all market players and added value for travelers. The associated test environment, columbus is already live and can be viewed and used by developers at wallet.camino.foundation. Detailed documentation is also available.

In the future, the blockchain will be called “ Camino will be run and managed by travel industry partners and will be financially accessible to all participants. To enable this decentralized approach, Chain4Travel AG will transfer all intellectual property rights (IP) as well as financial reserves to a dedicated fund. The network will be owned by the participating tour operators and will be protected from potential acquisitions. Participating blockchain node operators will control the network through voting rights.

Start-up capital providers include various market players who add direct value to the platform. The pre-sale of the Camino token is already planned for the summer months of July / August, where all interested travel agencies can participate. In addition, an initial coin offering (ICO) is planned for the end of the year, where anyone interested can buy the new Camino currency at a low price.

Chain4Travel’s management team includes CEO Ralf Usbeck, founder of TravelTainment and Peakwork, as well as COO Thomas Stirnimann, longtime former CEO and now member of the board of the leading Swiss tour operator Hotelplan, as well as former CIO of Hotelplan, Pablo Castillo, now CTO of Chain4Travel. Chain4Travel AG draws on 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 gained more than 50 followers from the travel industry worldwide, and more than 100 partners from the tourism and IT sector are expected to develop and access applications on the new network this year. In addition to Baar (Switzerland) and Düsseldorf (Germany), other Chain4Travel subsidiaries are being established in the United States, Asia and South America.

Ralf Usbeck, CEO of Chain4Travel, said: We are launching Chain4Travel at the right time. Blockchain technology has the potential to revolutionize the global travel industry. to help us get going at full speed this year.

Thomas Stirnimann, COO of Chain4Travel, added: The enormous potential of blockchain technology enables the travel industry to embrace new ways of thinking and new visions in the distribution and marketing of travel products. Development will go very fast and quickly change the processes that we are. used to.

About Chain4Travel

Chain4Travel AG continues to build a blockchain-based ecosystem, a stable and secure trading platform for B2B and B2C tourism products. Leisure travel partners can exchange services efficiently using streamlined processes. In future, the blockchain, called the Camino, will be operated and managed by travel industry partners in a decentralized approach and be financially accessible to all participants.
Chain4Travel is the latest technology project from Ralf Usbeck, founder of the travel technology pioneers TravelTainment and Peakwork. The management team also includes Thomas Stirnimann, former CEO and now a member of the board of the leading Swiss tour operator Hotelplan, and former Hotelplan CIO Pablo Castillo. Advisers include Beat Blaser, James Carter, Andy Owen-Jones, Markus Pfau, Michele Ruberl, Christian Schuhegger, Ulrich Sieber, Jan Stenger and Benjamin Usinger. Chain4Travel has already gained more than 50 followers in the travel industry worldwide.

Illustrative image: Use Case Airline InFlight Shopping: Blockchain business partners can access and offer information and offers from all participants.

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