German car manufacturer BMW is preparing to integrate blockchain into its daily operations and create a blockchain loyalty program for its customers in Thailand. Infrastructure firm Coinweb signed an agreement with BNB Chain for transactions, while the famous car brand decentralized structure provider.
BMW stated that it will integrate blockchain technology into daily operations in 2 phases. Stating that the decentralized technology will be integrated for daily operations first, the company stated that this way, time-consuming manual work will be automated and the company’s automobile finance services are desired to be facilitated.
In the second phase of the project, Coinweb will develop a customized Web3 application for customers of BMW’s loyalty program. The program will offer a blockchain-based reward system to incentivize BMW Group customers. A customer’s level and status in the ecosystem will be determined by the loyalty rewards they receive through various actions. Award winners will be able to use their prizes to purchase products and services from BMW and the BMW ecosystem. Binance’s local network BNB chain will be used to process transactions.
Coinweb CEO Toby Gilbert touched on the reward system in the loyalty program and explained how customers can earn rewards. Gilbert noted that customers will be rewarded each time they interact with the BMW ecosystem. He also gave examples such as buying a new car or going to a workshop. Gilbert also made the following statements on the subject:
“Customers will be rewarded with loyalty points and be able to spend those rewards within the ecosystem. We hope to do this globally in the future. But for now, we have only partnered for Thailand.”
BMW Thailand’s Head of Rental, Bjorn Antonsson, said that they have been actively examining decentralized technology and its uses for a long time. Antonsson explained that he believes integrating blockchain technology into day-to-day operations will speed up manual paperwork and contribute to the company’s efficiency and transparency.
This move by BMW is not the first transaction among car manufacturers to enable the use of decentralized technology. BMW first used blockchain technology in 2018 to track the supply of cobalt, making sure its products are sourced using ethical practices. Another German car manufacturer, Mercedes, is actively using NFT and cryptocurrencies as promotional tools. Italian car manufacturer Alfa Romeo is also using blockchain technology to keep car records. Ferrari is negotiating for NFT integration.