German Car Manufacturer BMW Partners with Binance Chain for New Blockchain Loyalty Program
German carmaker BMW is tapping into blockchain technology to streamline its daily operations and to support a blockchain loyalty program for its customers in Thailand. The carmaker will use BNB Chain to process transactions while relying on Coinweb for blockchain infrastructure.
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BMW partners with BNB Chain and Coinweb
The integration of blockchain technology in the operations of BMW will happen in two phases. During the first phase, BMW will integrate decentralized technology into its daily operations. The objective behind the integration is to automate time-consuming manual processes while streamlining the automobile financing services provided by the company.
During the second phase, the company will work with Coinweb to develop a customized Web3 application that will support the customer loyalty program for the car maker. The program will run on blockchain technology, and it will be incentivising the customers of BMW Group.
A customer’s status within the ecosystem will depend on the loyalty rewards earned by completing multiple actions. The owners will use these rewards to buy goods and services from the German automaker while supporting a linked ecosystem in the future. Payments made through this program will be processed on BNB Chain.
The leasing head at BMW Thailand, Bjorn Antonsson, said that the company was monitoring the growth of decentralized technology and the use cases of the technology. The executive was optimistic that integrating blockchain technology in its daily operations would remove the need for paperwork and support the company’s efficiency and transparency.
The CEO of Coinweb, Toby Gilbert, also commented on the development, saying, “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.”
This is not the first time that BMW is showing interest in blockchain technology. The company has been involved with the technology since 2018. The first use case for blockchain technology by BMW was tracking the company’s cobalt supply to ensure that the company’s products were supplied through ethical means.
Car makers show interest in blockchain
BMW is not the only leading car maker showing interest in decentralized technology. In June, Chevy conducted its first non-fungible token (NFT) auction. However, the auction ended without any bids for the digital car collectibles. Chevy planned to release physical versions of the NFTs if they sold out.
Lamborghini also unveiled a partnership with Go2NFT and Skey Network to create an NFT certification for race car components. Mercedes, another German car maker, has also been running promotions through NFTs and crypto tokens.
Alfa Romeo, an Italian car maker, is also using blockchain technology to track car records. Another luxury brand Ferrari has also hinted at a possible NFT integration after securing a new deal. These deals show that the companies are leaning towards blockchain to support operations.
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