Ethereum executive joins Camino Network.

Camino Network blends blockchain with travel. 

Decentralization can help the travel industry. 

Blockchain technology holds promise for diverse industries, especially those with logistical challenges like travel. Camino is one company that uses blockchain to create a decentralized platform for the travel industry. 

The project has recently announced a high-profile addition to its board of directors. Yessin Schiegg, a former Ethereum Foundation Board Member, has joined the Camino Network Foundation as a Council member. 

Ethereum Executive Yessin Schiegg Joins Camino Network

Travel-focused Camino Network secured a major addition to its team. On Tuesday, September 10, the Camino Network Foundation announced the appointment of Yessin Schiegg to its Council.  Sponsored

Schiegg has a wealth of experience in traditional finance and Web3. His background includes roles at BlackRock and as the CFO of the NEAR Foundation. Notably, he was also a member of the advisory board of the Ethereum Foundation. 

“Camino Network is leading the way as the most advanced blockchain tailored for the travel industry, and I'm excited to be part of this journey,” Schiegg revealed in a joint press release. 

How Camino Network Wants to Disrupt Travel

The Camino Network is the first level 1 blockchain network specifically for the $11 trillion travel industry. Launched in 2023, the network is under the direction of the Camino Network Foundation in Zug, Switzerland. Specifically, its network serves as a backbone for decentralized solutions in travel. 

The Camino Network uses smart contracts to automate processes securely and transparently. For instance, hotels can put loyalty program points on the chain. This allows users to use the points across hotel chains and trade them as commodities. 

The project has over 200 partnerships with brands and over 100 validators. Furthermore, Camino Network secured $10 million in investments so far for its mission to overhaul the travel industry. 

On the Flipside

While offering potential benefits, blockchain solutions for other industries often struggle to attract users. Using these solutions is often more complex than using traditional services.  

Camino Network’s utility token CAM adheres to Swiss and European crypto regulations. Still, other jurisdictions have different rules for token sales, which brings in regulatory risks. 

Why This Matters

The addition of an experienced executive to its team will help Camino Network in its journey to disrupt the $11 trillion travel industry. This will benefit both customers and companies in the industry. 

Read more about other crypto initiatives in the travel industry:  Travala & Skyscanner Open Doors to 2.2M Hotels with CryptoRead more about Polygon’s plans for blockchain interoperability: Polygon Plans to Unite All Blockchains, CEO Explains How

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