The global travel industry, valued in the trillions, is heavily centralized, with only a few major players owning and controlling various sectors such as accommodation distribution, review platforms, and advertising.
Alternatively, this industry depends on the exchange of information and financial transactions between major players and end-customers.
This makes blockchain technology an ideal solution to introduce decentralization, transparency, and security into a community-driven ecosystem that shares the same technological foundation.
And this is precisely what Camino Network is constructing: the Web3 infrastructure for the travel industry.
Source: The Camino Network Whitepaper
It is a layer-1 blockchain specifically designed for the travel industry, aiming to enhance efficiency and accessibility through blockchain technology.
The blockchain is managed by the Camino Network Foundation, a Switzerland-based nonprofit organization responsible for fostering sustainable and compliant growth within the ecosystem, with CAM as the official token.
So far, it has garnered backing and support from major players in the travel industry such as Lufthansa, TUI, Eurowings, as well as other airlines, technology providers, tour operators, and hotels.
It is being developed by Chain4Travel AG, a company specializing in web3 education, identifying use cases, developing solutions, and providing consultancy services for the travel industry.
It was founded by three travel industry veterans:
Being the native cryptocurrency of the Camino Network, CAM classifies as a utility token that provides access to products and services across the ecosystem and facilitates transactions.
The total supply of CAM tokens is 1 billion, with 900 million pre-minted at the launch in April 2023 and 100 million left to be used as rewards.
In January 2024, the foundation announced the first public sale, offering 75 million tokens priced at 0.15 CHF, 0.175 CHF, and 0.2 CHF per token. Participants committed a minimum of 1,000 CHF, with tokens locked for 1.5 years and a 1-year vesting period, receiving 3% annual rewards over 2 years.