BMW’s blockchain loyalty program uses Coinweb and BNB chain

BMW's blockchain loyalty program uses Coinweb and BNB chain

BMW intends to use blockchain technology in its everyday business and build a loyalty program for Thai customers that is based on blockchain. The automaker will get its decentralized architecture from Coinweb, a blockchain infrastructure company. BNB Chain will settle transactions.

BMW’s process will be changed in two steps to use blockchain technology. First, the decentralized technology will be built into BMW’s daily operations to automate manual tasks that take a lot of time and make the company’s automotive finance services easier to use.

In the second part of the project, Coinweb would build a Web3 application for BMW’s customer loyalty program that was unique to BMW. A blockchain-based rewards system will be used as a way to reward BMW Group customers. The loyalty rewards a customer earns through different actions will determine where they stand in the ecosystem and what level they are on.

In the future, owners will be able to buy goods and services from BMW and a connected environment with their awards. The native BNB chain of Binance will be used to settle transactions.

Toby Gilbert, CEO of Coinweb, told Cointelegraph that customers will be rewarded whenever they interact with the BMW ecosystem, whether they are “buying a new car or going for a service.”

“Customers will be rewarded with loyalty points and they will be able to spend within the ecosystem. Our hope is that there will be a future global rollout but currently our partnership is for Thailand.”

Bjorn Antonsson, who is in charge of leasing at BMW Thailand, said that the company has closely watched the growth of decentralized technology and its many uses over the years. Antonsson thought that using blockchain technology in the day-to-day operations of the company would cut down on paperwork and make the company more efficient and open.

Automakers have always been interested in decentralized technology, and BMW has been using it since 2018. BMW used blockchain technology at first to track where its cobalt came from and make sure its products were made in an ethical way. Along with BMW, the well-known German car company Mercedes has used non-fungible tokens and crypto coins as aggressive marketing tools.

Alfa Romeo uses blockchain technology to keep track of the history of its cars, and Ferrari’s new deal suggests that NFT could also be used.

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The post BMW’s blockchain loyalty program uses Coinweb and BNB chain appeared first on NFT News Pro.



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