BMW To Launch Blockchain-Based Customer Loyalty Program 

BMW To Launch Blockchain-Based Customer Loyalty Program 

BMW is collaborating with Coinweb and BNB Chain to integrate blockchain technology to its daily operations in Thailand. The automaker also plans to release a Web3.0 application that will reward customers with loyalty points for availing its goods and services. 

German luxury automaker, BMW, is partnering with Coinweb and BNB Chain to integrate blockchain technology into its daily operations and also create a blockchain-based loyalty rewards program for its customers. While blockchain infrastructure company Coinweb will provide the architectural framework for the application, BNB Chain will be used for payment settlements. The program will be exclusive to BMW’s customers in Thailand. 

According to the company, the blockchain integration is set to take place in two phases; the first stage will involve BMW incorporating the technology into its daily operations with aims to automate time-consuming manual processes such as its automobile financing services; in the second phase, Coinweb will develop a Web3.0-based application to power the automakers’ customer loyalty program.

The tier-based application will reward users with reward points for their involvement in BMW’s blockchain ecosystem where they can improve their tier and status based on their actions, such as when they use the carmaker’s services or when buying the company’s goods. 

Owners will also be able to redeem their points to purchase goods and services from BMW Thailand, as well as on the global ecosystem that will be linked in the future. Binance Smart Chain’s BNB token will be used for transactions in the application. 

“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,” said Toby Gilbert, CEO of Coinweb.

Bjorn Antonsson, the Head of Leasing at BMW Thailand, said that the automaker has been examining the progress of blockchain technology and how it could be applied in various use cases for the past several years. In 2018, the firm partnered with London-based blockchain startup Circulor and developed an application that would help it ethically source cobalt that is to be used in its cars. That same year the company also collaborated with blockchain-based supply chain management firm VeChain (VET). 

BMW says that with the integration of blockchain-based solutions in its daily operations, it will be able to completely eliminate manual paperwork and in turn contribute to the firm’s goals of efficiency, transparency and sustainability. 

BMW is not the only automaker to integrate blockchain technology. Earlier this year, fellow German manufacturer and eternal rivals, Mercedes-Benz, teamed up with Art2People to create an exclusive NFT collection based on its famous “G-Wagon” line of cars. Similarly, Porsche collaborated with Berlin-based startup XAIN to develop a blockchain-based application that will be able to power its vehicles. In February, Italian automaker Alfa Romeo released its latest “Tonale” SUV, which came with NFTs that certifies the car upon ownership and then records and keeps the data for the vehicle’s lifespan.

At the time of writing, BNB is trading at $243.99 – down by 0.9% in the last 24-hours.

Also Check: Japan To Reverse Ban On Foreign-Issued Stablecoins 

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