BMW, a famous care manufacturer in Germany, is planning to integrate blockchain technology into its daily operations. According to the 29th of December report from Cointelegraph, BMW is working on creating a blockchain loyalty program for its customers in Thailand. For this initiative to be completed, the German carmaker has onboarded Coinweb, a blockchain infrastructure firm, as its decentralized architecture provider. And for settling transactions, the carmaker has onboarded BNB Chain.
According to the report, the integration of blockchain technology into BMW’s daily operations will take place in two phases. In the first process, the decentralized tech will be integrated into BMW’s daily operations for automating time-consuming manual processes and streamlining the automobile financing services of the company. Whine in the second process, Coinweb will develop a customized Web3 application for BMW’s customer loyalty program.
BMW’s customer loyalty program will use a blockchain-based rewards scheme to incentivize BMW Group clients. A customer’s status and tier in the ecosystem will be determined by the loyalty rewards they have acquired through several actions, as per the report. With these rewards, users will be able to purchase goods and services from BMW and a linked ecosystem in the future.
Regarding BMW’s customer loyalty program and its integration with blockchain infrastructure firm, Toby Gilbert, the CEO of Coinweb told Cointelegraph that customers will be rewarded every time they have touchpoints with the BMW ecosystem, the times when buying a new car or go for a service. Customers will be rewarded with loyalty points, and they will be able to spend within the ecosystem he added.
Bjorn Antonsson, BMW Thailand’s leasing head, said that the carmaker has been actively monitoring the progress of decentralized tech and its various use cases for several years. Bjorn believes that this integration of blockchain tech in the daily operations of BMW would eliminate the manual paperwork, which as result contribute toward the company’s transparency and efficiency.