Customers will be able to use their accumulated awards to buy goods and services from BMW

BMW will receive blockchain loyalty program and cross-chain smart contract architecture from Coinweb.

BMW, a German car manufacturer, recently disclosed ambitions to integrate blockchain technology into its operations and create a blockchain loyalty program for its Thai customers. The well-known manufacturer will employ blockchain infrastructure provider Coinweb for decentralized architecture and Binance Chain for transaction settlement.

The BMW process will incorporate blockchain technology in two stages. The decentralized technology will initially be implemented in BMW's daily operations with the goal of reducing time-consuming manual processes and improving the company's automobile finance services.

Coinweb would develop a specialized Web3 application for the BMW customer loyalty program during the project's second phase. Through the program, customers of the BMW Group will receive rewards utilizing a blockchain-based system. The tier and position of a consumer inside the ecosystem will be determined by the loyalty points they have accrued through various actions.

"We are very excited to be working with such a great team at Coinweb, and anticipate all the positive outcomes of embracing DLT into our ecosystem. We foresee this shift of manual paperwork towards immutable records on the blockchain to immensely contribute to infallible efficiency and transparency," said CEO Bjorn Antonsson of BMW Leasing (Thailand) Co,.Ltd. "For our long-time customers here in Thailand, we look forward to continually cultivating their loyalty while rewarding them at the same time through the blockchain-based rewards system delivering real value to be rolled out in 2023."

In the future, customers will be able to use their accumulated awards to buy goods and services from BMW as well as from a connected environment. As a result, transactions will be settled using Binance's native BNB chain.

Customers will receive incentives "anytime they have touch-points with the BMW ecosystem, whether it be buying a new car or they go for a servicing," according to Toby Gilbert, CEO of Coinweb, in a statement outlining how they will profit from the impending loyalty program. He stated:

“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 roll-out but currently our partnership is for Thailand.”
“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 roll-out but currently our partnership is for Thailand.”
A wide range of web3 products and services, including NFT authenticated media + files, virtual cars + apparel + footwear, retail outlets, virtual environments, and more, are all covered by NFT and trademark applications that BMW recently filed.