Hahn Air has joined the Camino blockchain consortium,
facilitated by Chain4Travel.
The Camino blockchain is a de-centralised private
network that restricts access to members all of whom go through a
‘Know Your Customer’ (KYC) process to validate identity and
authenticity.
As each validator is approved, the Camino blockchain
is able to use Proof-of-Stake and Authority (PoSA). Compared to
Proof-of-Work validation, PoSA allows for reduced energy
consumption and significantly increased transaction speed.
Camino
is governed by its consortium members, who are key players in the
travel industry, including Tui and Eurowings.
Hahn Air will validate transactions that are submitted within
the network.
“We are excited to join the Camino blockchain as a
consortium member,” said Mathieu Montmessin, Executive Vice
President Research & Development at Hahn Air. “We are looking
forward co-create Camino as the worldwide operating system for
travel products and to take influence on the development of new
travel products. Camino allows communication and collaboration
among partners at eye level. This will stimulate the creation of
future business models and the travel products of tomorrow which
will ultimately be a great asset to our partner airlines and
travel agencies.”
Blockchain technology holds enormous potential for
the travel industry as it simplifies processes, facilitates
collaboration among market participants and enhances the customer
experience. Use cases for the travel industry are, for example,
enhanced processes for inventory management, settlement,
ancillaries and loyalty programmes. Hahn Air has already gained
experience with blockchain technology by issuing the world’s first
air ticket on the blockchain in 2019.
“Blockchain technology has established itself in
various industries in recent years and the travel industry is
next.”, says Ralf Usbeck, CEO of Chain4Travel. “Through the Camino
chain, all companies in the travel industry – no matter how large
or small – are given the opportunity to future-proof their own
processes and benefit directly from the technological advances.”
