Pablo Castillo, CEO and CTO of Travel4chain, argues that the global travel industry, which has remained largely unchanged for 40 years, lacks standards and a unified system. Castillo believes blockchain technology is the missing link that can unify the industry on a common technical backbone and standardize the communication protocol used by industry participants.
In his written answers to questions from Bitcoin.com News, Castillo, a veteran of the tourism and travel industry, asserts that implementing blockchain technology will ensure all participants have access to the same dataset. This will eliminate the unidirectional flow of data, creating a more transparent environment. This transparency, he argues, will act as a “compass” guiding service providers to efficiently execute their tasks and streamline processes.
Addressing concerns about the potential elimination of intermediary roles, Castillo maintains that blockchain technology can create new opportunities for both traditional and emerging players in the industry. Regarding regulatory challenges, he acknowledges that technological advancements often outpace regulatory frameworks. This mismatch can create difficulties for companies, including Web3 firms, as they strive to comply with regulations.
Castillo also outlines the benefits of blockchain technology for all participants in the travel industry and shares his predictions for the industry’s future in the coming years. Below are his answers to the questions sent.
Pablo Castillo (PC): The travel industry is like an orchestra—hotels, airlines, car rentals, and tour operators each playing their part in sync to create a seamless experience. Behind every trip lies a complex, fragmented supply chain, with countless service providers and intermediaries working together through a variety of APIs and systems. Yet, the travel industry is built on outdated technology that has barely evolved in 40 years.
Have you ever wondered why changing a simple detail, like your name, can be a struggle when booking a flight? Or when arriving at a hotel, you have to re-enter details already shared with another provider. Travel, as it connects people worldwide, ironically lacks standards and a unified system. Blockchain technology is the missing link that can be delivered by not only unifying the decentralized industry on the same technical backbone, but also by standardizing the communication protocol itself.
PC: Picture this: if a flight is delayed, blockchain’s smart contracts can be your 24/7 assistant, automatically triggering real-time payouts and rebooking travel alternatives without a single email or phone call. It’s as if your itinerary is wrapped in armor, resilient to disruptions, and entirely focused on your journey, rather than paperwork.
Blockchain technology also ensures authenticity as it can detect inauthentic reviews immediately. By using NFT-technology, companies will be able to safeguard reviews from any manipulations and/or fake users, resulting in travelers being able to confidently trust the reviews they see online rather than relying on a verified badge or ratings.
Finally, there is the potential for personalized travel offers.
With the user’s consent, blockchain reads the digital ‘wallet’ of travel preferences and past experiences, creating recommendations that are perfect for the user. Sleap.io, the first web3 OTA is a great example for this within the Camino ecosystem. In essence, blockchain keeps the travel experience alive, ensuring personalization, and trust at every step.
PC: Transparency and automation are key elements where blockchain can help improve the customer experience. Too often, data flows in just one direction and then quickly goes stale, leaving travelers stranded with issues such as overbooked flights, outdated entry requirements, or misleading health regulations like during Coronavirus times.
By implementing blockchain technology into the travel industry, all participants will have access to the same data set. This kind of transparency acts almost like a compass guiding each service provider to execute their job efficiently and streamline the process. By connecting all suppliers on a decentralized ledger, this allows processes like rebookings and adjusting itineraries to happen smoothly in real-time with most accurate data.
PC: I believe Blockchain technology will create a new path (a new ‘Camino’) where both new and traditional players can find their place. Even intermediaries will be able to find a place in this system, adapting to new tasks within a shared infrastructure.
We have already seen a major shift in Europe, with new initiatives around stablecoins and digital identities (i.e. eIDAS 2.0).
Thus, I already see an urgency to adopt blockchain technology and in 5-10 years I imagine the governmental regulation will change the game for the travel industry and big players will be forced to oblige. Camino Network will be able to provide a secure and interoperable framework where each company can truly benefit, in co-existence with digital payments and identities.
PC: Technology is evolving at lightning speed, surpassing legal frameworks by far. Regulators often find themselves playing catch-up as they work to understand and adapt to innovations like blockchain.
The EU’s MiCAR regulation has helped the whole of Europe bring more clarity around regulations and requirements for blockchain-based businesses. I personally believe that regulation is a good thing in our space, it creates a trusting and safe framework which entices large travel industry players to confidently explore Web3.
In our case, in 2021 we founded the Camino Network Foundation in Switzerland, where, at that point in time, it had one of the most progressive and business-friendly Web3 frameworks already in place. The travel sector, which already navigates a complex web of regulations, now faces the challenge of carefully adapting regulations for Web3 related cases. For instance, applying GDPR requirements to decentralized / open-source technologies demands a deep understanding of how personal data of the travelers is stored, handled, and secured in the technical solution.
PC: Think of a loyal customer as today’s BTC—a highly valuable asset in any industry. Yet, most travel brands don’t have a loyalty program because they lack the right resources. Unlike Web2 systems, blockchain enables instant incentivization across services, amplifying users’ loyalty. Sophisticated loyalty programs can connect hotels, airlines, and tour operators to create shared rewards for sustainable actions.
Through blockchain applications, users can be incentivized for desired actions, such as writing reviews or promoting a specific product or destination. This creates opportunity for entirely new loyalty programs for example a NFT collection that gives away special perks or token gated access to special prices and services like an airport lounge.
PC: While travel connects people, Camino Network connects travel itself, by unifying fragmented systems through blockchain. This next-level interoperability results in smoother transactions, less connectivity costs, and a wider reach for service providers.
By using on-chain payment rails, companies will be able to benefit from lower transaction fees, no longer relying on traditional credit cards which often can take up to 3% of the margin. The use of smart contracts allows travel service providers to achieve a higher degree of automatization, fulfilling tasks with specific conditions. Lastly, customers will benefit immensely from the streamlined process with seamless customer experience and better organized trips.
Another huge value Camino brings to the industry is the concept of “TravelFi”. By introducing DeFi, we are able to create a cheaper, faster, and more secure payment infrastructure within the $11 trillion travel industry. Camino Network, with its native CAM token, enables seamless, borderless transactions that eliminate inefficiencies. Just as DeFi is reshaping global finance, TravelFi opens up new possibilities, making travel more flexible and accessible. This ultimately bridges an industry built on an outdated system with the new limitless potential of the digital age.
PC: I truly see the industry’s direction has shifted. Three years ago, blockchain in travel was a niche idea. Today, Camino Network has 200+ brands, including industry giants like Lufthansa, DERTOUR, and TUI, on board, each believing in a decentralized travel ecosystem.
In five years, I foresee blockchain becoming the standard for travel distribution, sourcing, payment, loyalty, and sustainability. Blockchain won’t be applied to every aspect of travel, but it will become the backbone of key processes. With 1.3 billion international travelers, each holding a ticket, that’s 1.3 billion opportunities for transforming the travel experience with NFTs. This unlocks a world where travelers can mint, trade, resell, or even swap their tickets effortlessly. For companies, NFT tickets streamline operations and add resilience, creating a future where ticketing is efficient, flexible, and traveler-centric.
I see web3 mass adoption happening through industry adoption. Anyone who doesn’t recognize this next leap in travel tech is about to miss out—just like those who couldn’t see the potential of the internet when it was introduced.
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