BMW Uses Coinweb And BNB Chain For Loyalty Program

The German automobile company BMW intends to use blockchain technology into its day-to-day business operations and develop a blockchain-based customer loyalty program for BMW's clients in Thailand.

Coinweb, a blockchain infrastructure startup, has been hired by the well-known vehicle manufacturer to serve as its decentralized architecture supplier, and BNB Chain will be used for settling transactions.Two separate stages will be required for the implementation of blockchain technology into BMW's process.

First, the decentralized technology will be included into BMW's day-to-day operations with the intention of eliminating laborious and time-consuming manual procedures and simplifying the organization's vehicle finance offerings.

During the second stage of the project, Coinweb would be responsible for developing a specialized Web3 application for the customer loyalty program that BMW uses.A rewards system that is based on blockchain technology will be used by the program to incentivise BMW Group consumers.

The customer's tier and position within the ecosystem will be defined by the amount of loyalty points that they have accumulated as a result of the different activities that they have taken.

In the future, BMW owners will be able to utilize their credits toward the purchase of products and services from BMW as well as from a connected environment. Transactions will be settled using Binance's underlying native BNB chain.

According to Bjorn Antonsson, head of leasing for BMW Thailand, the company has been closely following the development of decentralized technology and the myriad of ways it may be put to use over the last few years.

Antonsson had high hopes that the incorporation of blockchain technology into their day-to-day operations would result in the elimination of the manual paperwork as well as a contribution to the company's increased efficiency and transparency.

It is not a recent phenomenon that vehicle manufacturers have shown an interest in decentralized technology, and BMW has been associated with the technology since 2018.

In the beginning, BMW used blockchain technology in order to monitor its cobalt supply and make certain that its goods were being sourced in an ethical manner. The Italian automaker Alfa Romeo employed blockchain technology to keep track of automobile data, and Ferrari's latest contract has signaled that the company may also include NFT technology.