On May 26th, 2022, technology firm Chain4Travel closed a seed fundraising round of 4.3 million Swiss francs (USD 3.87 million). The newly secured funding will allow the company to expand quickly and launch its blockchain and first applications later this year.
What the founders and the team has to say:
Ralf Usbeck, CEO of Chain4Travel:
“Chain4Travel is releasing at the perfect time. The global travel sector has the potential to be transformed by blockchain technology. We’ve enlisted the expertise of renowned partners and specialists in the international travel and technology industries to help us kick off this year in full force.”
Thomas Stirnimann, COO of Chain4Travel:
“Blockchain technology’s huge potential allows the travel industry to adopt new ways of thinking and visions in distributing and marketing travel items. The development will proceed at a breakneck pace, radically altering the processes we are accustomed to.”
What does Chain4Travel do?
Chain4Travel is working on a unique concept for using blockchain technology in the international travel industry: the goal is to create a blockchain-based ecosystem that will provide a reliable and secure platform for B2B and B2C leisure travel products. Using a set of simplified processes, tourism partners will be able to conveniently trade and purchase a variety of services on the platform, ranging from hotel rooms and rental vehicles to simply a cup of coffee on a flight.
In addition, travel partners will be able to discover all of the information they require to sell travel effectively. Hotel and room type mapping, health and safety, Covid updates, current event and restriction warnings, area information, and much more will be supplied live into the platform and made available as NFTs. This essential travel data will be accessible to any business partners working with the platform standardized and secure. This adaptable network cost-effectively and efficiently maps current business models; in particular, it provides a solid foundation for launching new leisure travel goods and creative transactions.
Benefits:
The Know Your Customer (KYC) procedure allows blockchain node operators and service providers to be uniquely identified and networked, lowering the effort necessary during the negotiation phase of future transactions. Companies that join will be able to complete transactions with blockchain partners in seconds and at a reasonable cost.
In addition, the technology will allow travelers to check availability and other travel details. There will be advantages for all market participants and additional benefits for travelers. Developers can access and use the accompanying test environment, “Columbus,” which is already operational.
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