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After the recent launch of the Camino Network<\/a>\u00a0travel-focused blockchain, legacy travel companies are looking toward a Web3 future.\u00a0<\/p>\n Cointelegraph spoke with executives at Europe-based airlines Lufthansa and Eurowings \u2014 two of the first companies to use the Camino Network \u2014 to understand how Web3 integrations bring this industry to its next generation.<\/p>\n Johannes Walter, the head of channel partners at Lufthansa Group, said he believes \u201cdecentralization and tokenization\u201d will create opportunities for new business models and relationships, \u201cfrom building more direct, strategic partnerships and improving transparency to creating new revenue streams and enhancing the customer experience.\u201d<\/p>\n \u201cWe aim to deeply understand the space to create long-term value for our customers and partners that aligns with our brand strategy.\u201c<\/p><\/blockquote>\n Data from a 2021 Statista report shows<\/a>\u00a0the travel and tourism industry\u2019s contribution to the global gross domestic product was around $5.8 billion that year.<\/p>\n Jens Bischof, the CEO and chief customer officer of Eurowings, echoed this sentiment, saying that the travel industry is one of the \u201clargest industries in the world,\u201d which deals with large quantities of \u201csensitive data\u201d every day.<\/p>\n \u201cWeb3 offers Eurowings a way to meet these demands cost-efficiently and with maximum security.\u201d<\/p><\/blockquote>\n Bischof also commented that the company is currently investigating how to use blockchain for customer loyalty.\u00a0<\/p>\n Related: <\/em><\/strong>How Bitcoin ATMs in Greece fare during a record-breaking tourist season<\/em><\/strong><\/a><\/p>\n Other companies in the travel industry have already employed blockchain-based solutions in their operations before the launch of Camino. Air Canada and Etihad Airways both integrated the Winding Tree blockchain<\/a>\u00a0for product distribution purposes without the need for third parties. <\/p>\n Despite the increased adoption, Bischof pointed out that a deterrence to mass adoption is the lack of clear regulation.<\/p>\n \u201cNevertheless, as big players worldwide are adopting Web3 technology and European institutions are at the forefront of crypto regulation [MiCA], we are looking into a promising future of driving our [industry] forward.\u201d<\/p><\/blockquote>\n Lawmakers in Europe recently gave their final blessing<\/a> to the European Union\u2019s Markets in Crypto-Assets legislation. This also comes as local lawmakers consider another piece of legislation called the AI Act to regulate the development and deployment<\/a> of artificial intelligence.\u00a0<\/p>\n Other potential use cases of Web3 technologies integrated into the travel industry have already begun popping up. Using the metaverse has been discussed to \u201cinspire travelers\u201d before taking a trip to what a given destination has to offer\u00a0via virtual experiences<\/a>.\u00a0<\/p>\n Nonfungible tokens have also been on the table for use as NFTickets, which could allow revenue increases for airlines<\/a> via secondary market resales.<\/p>\n Magazine: <\/em><\/strong>$3.4B of Bitcoin in a popcorn tin: The Silk Road hacker\u2019s story<\/em><\/strong><\/a><\/p>\n<\/div>\n