German car manufacturer BMW plans to integrate Blockchain technology into its daily operations and create a blockchain loyalty program for its customers in Thailand. The popular automaker has hired blockchain infrastructure company Coinweb as a decentralized architecture provider and BNB Chain for transaction settlement.
The integration of Blockchain technology into the BMW workflow will take place in two phases. First, the decentralized technology will be integrated into BMW’s daily operations with the aim of automating time-consuming manual processes and streamlining the company’s auto finance services.
In the second phase of the project, Coinweb will develop a custom Web 3.0 application for BMW’s customer loyalty program. The program will use a blockchain-based rewards system to incentivize BMW Group customers. A customer’s level and status in the ecosystem will be determined by the loyalty rewards they have acquired through various actions.
Owners will be able to use their rewards to purchase goods and services from BMW, as well as a linked ecosystem in the future. BNB Chain, Binance’s native network, will be used to settle the transactions.
Toby Gilbert, CEO of Coinweb, explained to Cointelegraph how customers will be rewarded with the upcoming loyalty program: “Every time they have contact with the BMW ecosystem, whether it is buying a new car or going to a service, they will be rewarded”:
“Customers will be rewarded with loyalty points and will be able to spend in the ecosystem. We expect a global rollout in the future, but for now our partnership is with Thailand.”
BMW Thailand’s director of leasing, Bjorn Antonsson, said the company has actively followed the progress of decentralized technology and its various use cases over the years. Antonsson hopes that the integration of Blockchain technology into its daily operations will eliminate manual paperwork and contribute to the efficiency and transparency of the company.
Interest from automakers in decentralized technology is nothing new, and BMW has been involved with the technology since 2018. BMW first used Blockchain technology to track its cobalt supply and ensure its products are supplied using ethical practices. In addition to BMW, another popular German automaker, Mercedes, has been actively using non-fungible tokens and cryptocurrencies as promotional tools.
Italian car manufacturer Alfa Romeo used Blockchain technology to keep track of car registrations, while Ferrari’s new deal has also hinted at NFT integration.
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