Camino Network
Travel Industry
Developers
At Chain4Travel AG, the unique selling proposition is rooted in a profound understanding of the travel industry and expertise in emerging digital technology. The company is creating tangible value for the industry through the innovative web3 ecosystem and decentralized applications, leveraging the insights and experience necessary to drive such a transformation and set new benchmarks.
Camino Network is the Layer 1 blockchain project managed by the Camino Network Foundation and supported by consortium members and, in particular, by Chain4Travel AG, which is a tech lab of Camino Network. By leveraging blockchain technology, the foundation aims to transform the travel industry with a decentralized, transparent, and efficient web3 travel ecosystem for businesses, service providers, and travelers. The network is live and healthy with 52 validators, 6 100+ wallets, and over 101 000 completed transactions (as of June 3, 2024).
Camino Network encourages collaboration between businesses, service providers, and travelers by providing an open ecosystem where ideas, resources, and knowledge can be shared. This collaborative environment promotes the development of innovative solutions and improves the overall travel experience.
As Camino Network's development progressed, Chain4Travel AG initiated the establishment of the Camino Network Foundation. The Camino Network Foundation is based in Switzerland and manages and governs Camino Network, ensuring alignment with the core principles of blockchain technology. The mission of the Camino Network Foundation is to develop the web3 travel ecosystem, enhancing travel technologies for all, through democratic and transparent relations within the network, fostering trust and collaboration among all participants in the travel ecosystem. The Camino Network Foundation has also taken charge of the finances, ensuring proper management.
The founders of Chain4Travel AG recognized the potential of blockchain technology in the travel industry and assembled a dedicated team to raise investments and build the world's first Layer 1 blockchain explicitly designed for travel. Ralf Usbeck, Thomas Stirnimann (current Chairman of the Council of the Camino Network Foundation), and Pablo Castillo possess decades of experience in the travel tech sector and identified the challenges faced by the industry, as well as the transformative potential of web3 technologies used in other sectors.
In 2021, the idea of Camino Network was launched as a collaborative network that enabled digital innovation in the global travel industry.
To further engage and motivate community members, the Camino Network Foundation offers incentives. 20% of the tokenomics are assigned for grants to help dApp developments. 5% of tokenomics will be used for marketing activities, including airdrops. The Foundation creates a thriving ecosystem that benefits everyone involved by rewarding contributions such as network maintenance, development of new applications, and sharing valuable insights.
The Camino token (also referred to as "CAM") is the native token of Camino Network, facilitating transactions and incentivizing participation in the Consortium. The CAM tokens are under the full control of the Camino Network Foundation, although they were initially distributed by Chain4Travel AG for the exclusive purpose of developing and promoting Camino Network.
As an essential component of Camino Network, the CAM token serves several fundamental functions and roles within the ecosystem: transaction utility, validators’ “bond,” proposal creation, and payments.
Given the functions of the CAM token described above, the Camino Network Foundation has requested legal opinions to qualify its legal nature by Swiss law and European regulations, in particular, Regulation (EU) 2023/1114 on markets in crypto-assets ("MiCAR").
Per Swiss legislation, the CAM tokens fall under the legal qualification of a hybrid token, considering they may be deemed a payment token (means of payment) and a utility token (access to a specific product or service).
Per EU legislation, under MiCAR, the CAM token is neither considered an e-money nor an asset-referenced token due to the lack of backing with FIAT money or a combination of different assets; it is a utility token that serves as a protocol-specific transaction fee vessel and key to network validation.
The distribution of CAM tokens has been carefully designed to ensure long-term sustainability and growth. A significant amount will be allocated to the community treasury to support ecosystem development, while other allocations will be reserved for strategic partners, team members, marketing activities, and future ecosystem expansion. You can learn more about the token from the whitepaper.
The Camino Network Foundation is responsible for managing the development and growth of Camino Network by taking all necessary management decisions. The Camino Network Foundation Council also ensures that all funds are used correctly and follow the roadmap. The use of funds is always specified in the Camino Network Foundation's transparency report, published every six months, and explains the project's technical, financial, business, and legal development.
The Camino Network Foundation will rely on the Camino Consortium in the development of its activities, asking for their vote in some decisions, considering that Camino Network was created for these participants and that their interests and/or opinions are particularly relevant for the Camino Network Foundation.
Camino Network is operated by a Camino Consortium of travel industry-related entities. This structure ensures that each member has a vested interest in the success and sustainability of Camino Network.
Consortium members contribute to the network by providing a validator node and securing and validating transactions. In return for their services, they receive an equal share (30%) of the transaction fees as a reward.1
The principle of validator equality is central to the Camino Network's governance philosophy. Regardless of their size or influence in the broader travel industry, every validator must bond the amount of 100,000 CAM. This creates a level playing field and ensures that each validator has an equal vote, an equal bond, and an equal role in the network's decision-making.
Companies who want to join the Camino Consortium undergo an application process to become validators. Transparency is key: all applicants must fully disclose their identity via a KYC and KYB verification, plus a vote by the existing Consortium members who will judge whether a business is relevant to travel and can thus bring value to the industry at large, as members will, in turn, decide on industry-affecting matters, such as the shaping of standards.
The Camino Network Foundation will offer support and resources for community members to learn, grow, and thrive within the ecosystem. This includes educational content, networking opportunities, technical support, development, and access to a global community of like-minded individuals who share a passion for travel and technology.
Transparency is a core value of the ecosystem. Chain4Travel AG openly communicated the project's objectives to the community from the first day. With the Camino Network Foundation, this principle will be further kept.
In conclusion, Chain4Travel's creation of Camino Network and the establishment of the Camino Network Foundation have set the stage for a decentralized and transparent network that empowers businesses and travelers and places the broader community at the heart of the travel industry's future. This community-focused approach leads to collaboration, innovation, and trust, ensuring that Camino Network becomes a beacon of progress within the travel industry.
Learn more details in the Whitepaper or join the community.
Camino is a decentralized network powered by the CAM token, driving growth in the global travel industry by utilizing web3 infrastructure. It offers businesses a secure and efficient ecosystem to connect, trade, and innovate.