2023 Recap: milestones achieved and new horizons ahead
January 30, 2024
2023 has been an exciting year for Camino Network. The first layer one blockchain tailored for the needs of the travel industry was successfully launched.
2023 has been an exciting year for Camino Network. The first layer one blockchain tailored for the needs of the travel industry was successfully launched.
The web3 travel ecosystem started to grow with more travel and travel tech companies joining the consortium. The first dApp was launched, and the first thousands of blockchain transactions were made.
Every milestone was made possible by the dedicated work of the team and the support from the travel, travel tech, and web3 communities. This collective contribution has been pivotal in transforming the vision of the Camino Network Foundation into a reality.
Following the successful launch of the mainnet with essential "primitives" for its operation, the network's future direction is now in the hands of the consortium to guarantee that the subsequent steps and innovations are shaped by the needs and insights of those who use and understand the network best.
Camino Network stays agile, relevant, and aligned with the evolving demands of the consortium. That is why, with the introduction of KYB (Know Your Business) verification, the network gained another layer of security and more attention from businesses. Companies participating in the network want a trusted ecosystem where the participants are known to ensure all the processes are streamlined and transparent. With KYB, Camino Network provides all the conditions for partners from various verticals to coordinate and collaborate in the digital space.
Another contribution that satisfies the demand for security and flexibility on Camino Network is the Multisig Wallet. This type of crypto wallet requires multiple transaction approvals through distributing authorization among trusted parties, eliminating the risk of unauthorized access or single points of failure. Businesses can use such wallets for collaborative and secure digital asset operations.
The Camino Messenger became the following innovative feature. Technically, this messenger facilitates peer-to-peer (P2P) connectivity among network participants, with secure and efficient direct communication and transaction within the travel industry. Business-wise, this tool helps companies reduce APIs and maintenance costs, streamline payments and settlements, and develop innovative sources of revenue. The proof of concept (PoC) of the Camino Messenger received a positive response from the community and led to active engagement from consortium members, who are now contributing to the development of both the messenger's infrastructure and unified travel data standards.
The year 2023 was also significant with the Camino Network Foundation establishment. It is a non-profit organization supporting the development of the first Layer 1 blockchain built specifically for the travel industry by travel technology experts. The Foundation empowers consortium members to engage actively in developments and decision-making processes, facilitating the smooth transition of existing travel businesses into the web3 travel ecosystem.
With a strong emphasis on decentralization (which means ensuring that all travel businesses have equal access to technologies), transparency, and efficiency in the global travel industry, the Camino Network Foundation carefully selects the most effective and sustainable strategies to enhance the brand and facilitate its smooth adoption within the travel and web3 communities through different touch points. This carefully curated strategy plays a key role in the expansion and acceptance of blockchain technology.
In 2023, business development efforts achieved remarkable results with a dynamic presence across the globe. The team was presenting Camino Network every second week, attending a total of 25 conferences, mainly travel-focused.
This engagement helped to establish valuable connections with industry professionals, resulting in 200 supporters showing keen interest in utilizing the Layer 1 blockchain designed specifically for the travel industry with 50% of them actively ramping up as validators of Camino Network.
All these activities were further amplified by growing interest from several big-name brands in the travel sector. While specific details and partnerships are currently under NDA (non-disclosure agreements), the interest from these prominent players signifies the growing recognition and potential of Camino Network in the industry.
The first web3 travel hackathon took place in 2023. Lufthansa Group partnered with Der Touristik Online to create a proof of concept (PoC) for an application focused on tracking SAF (Sustainable Aviation Fuel), utilizing the capabilities of Camino Network. The success and positive feedback from the participants helped to recognize the key role of such collaborative events in the adoption of the blockchain. There are two travel hackathones already planned for 2024. Both events are designed to actively engage consortium members, encouraging them to leverage the Camino Network to develop decentralized applications (dApps).
Marketing through education played a pivotal role in shaping the perception and understanding of Camino Network in 2023 as a value- and technology-focused entity, not a token-centric web3 project. With a dual focus on serving both the web3 and travel tech communities, the strategies stretched from B2B and B2C segments.
Another key objective in 2023 was to clarify Camino Network's value proposition, emphasizing the practical benefits for network participants through blockchain technology. The blockchain gained coverage from various media outlets, ranging from travel niche publications to mainstream channels, effectively broadening the visibility, which resulted in significant growth of brand awareness across both the web3 and travel domains.
Co-marketing initiatives with validators and builders were particularly impactful. A prime example of such collaborative success was the launch of Sleap.io, the first web3 Online Travel Agency (OTA) that integrates blockchain and AI to offer personalized travel rates. This use case clearly shows how both technologies can change the classic views of how businesses operate today and how travelers interact with service providers.
To attract more innovators to the community, Camino Network was presented across social media platforms like LinkedIn, YouTube, Telegram, Discord, and Reddit with educational content in various formats, from regular text posts to podcasts, which generated huge outreach to different audiences through their preferred channels and types of content.
The community activities were aimed at bridging the gap between the web3 and travel. It was possible thanks to a safe and supportive online space where innovative individuals and companies from both domains could come together to learn from each other and find innovative solutions to already existing business bottlenecks.
The increase of active validators (over 40 validators from 11 countries) was a significant indicator of the growing trust and participation in the network and community. Regular validator calls help the participants learn about each other and build bonds. A defining moment of community engagement was the Camino Network’s validators' meeting in Mallorca in October 2023. This event brought new connections and collaborations between established travel and travel tech brands and bold startups focused on web3 products.
Additionally, the «Take off» grant program saw over 40 applications, which shows the interest and commitment to developing the web3 travel applications on Camino Network.
Alongside the professional community's expansion, there was a parallel growth in the community of web3 enthusiasts. New members were joining via curated educational campaigns designed to familiarize them with Camino Network and its ecosystem. Participants could learn about the web3 travel ecosystem and get token rewards for a variety of activities, from testing applications to sharing initiatives and providing valuable feedback, which contributed to dynamic growth and collaborative spirit.
The year 2023 was remarkable for Camino Network, with numerous significant developments and milestones that have laid a base for growth and development in 2024. Next year, the focus of the Camino Network Foundation will be on the global expansion of the community. For this purpose, the Foundation will soon announce the public token presale to secure funds. The public sale will have 75 million CAM tokens with the goal of raising between 11 and 15 million CHF.
Camino is the travel industry blockchain. Fueled by the Camino token, it is offering a versatile network to expand current business models and to create new touristic products to delight travelers and business partners.