Lufthansa, Eurowings, other travel industry players push forward with Web3

After the caller motorboat of the travel-focused blockchain, the Camino Network, bequest question companies successful the manufacture are looking towards a Web future. 

Cointelegraph spoke with executives astatine Europe-based airlines Lufthansa and Eurowings, 2 firms archetypal to follow Camino, to recognize however Web3 integrations are bringing this manufacture into the adjacent generation.

Johannes Walter, the caput of transmission partners astatine Lufthansa Group Hub Airlines, said that helium believes “decentralization and tokenization” volition make opportunities for caller concern models and relationships, "from gathering much direct, strategical partnerships and improving transparency to creating caller gross streams and enhancing the lawsuit experience.”

"We purpose to profoundly recognize the abstraction to make semipermanent worth for our customers and partners that aligns with our marque strategy."

Data from a 2021 Statista study shows that globally the question and tourism industry’s publication to GDP was astir $5.8 cardinal for that year. 

Jens Bischof, the CEO and main lawsuit serviceman of Eurowings, echoed this sentiment saying, that the question manufacture is 1 of the “largest industries successful the world”, which deals with ample quantities of “sensitive data” each day.

“Web3 offers Eurowings a mode to conscionable these demands - cost-efficiently and with maximum security.”

Bischof besides commented that the institution is presently investigating however it tin usage blockchain for lawsuit loyalty purposes. 

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Other companies successful the question manufacture person already employed blockchain-based solutions into their cognition anterior to the motorboat of Camino. AirCanada and Etihad Airways some integrated the blockchain Winding Tree for merchandise organisation purposes without the request for 3rd parties.

Despite the accrued adoption, Bischof pointed retired that a deterrence of wide adoption is the request for wide regulation. 

“Nevertheless, arsenic large players worldwide are adopting Web3 exertion and European institutions are astatine the forefront of crypto regularisation (MiCA), we are looking into a promising aboriginal of driving our [industry] forward.”

Lawmakers successful Europe precocious gave their last blessing to the European Union’s state-of-the-art acceptable of crypto regulations known arsenic MiCA. This besides comes arsenic section lawmakers mull implicit different set of laws known arsenic the AI Act to modulate the improvement and deployment of artificial intelligence. 

Other imaginable usage cases of Web3 technologies integrated into the question manufacture person already begun popping up. Using the metaverse has been discussed arsenic a mode to "inspire travelers" anterior to taking a travel of what a fixed destination has to offer via virtual experiences. 

Nonfungible tokens (NFTs) person besides been connected the array for NFTickets, which could let revenue increases for airlines via secondary marketplace resales.

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