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HomeNewsAutomobile Giant BMW Agreed With This Altcoin!

Automobile Giant BMW Agreed With This Altcoin!


German auto giant BMW is collaborating with an altcoin project for its Blockchain loyalty program. In this context, BMW will integrate decentralized technology in two phases. He will use it first in his day-to-day operations to eliminate complex paperwork and in the second phase in the development of a customer loyalty program.

BMW agreed with this altcoin project

German automaker BMW plans to integrate Blockchain technology into its daily operations. Accordingly, it will create a Blockchain loyalty program for its customers in Thailand. The popular automaker has partnered with blockchain infrastructure firm Coinweb as its decentralized architecture provider and BNB Chain to settle transactions.

The integration of blockchain technology into BMW’s workflow will take place in two phases. First, decentralized technology will be integrated into BMW’s day-to-day operations to automate time-consuming manual processes and streamline the company’s auto finance services. In the second phase of the project, Coinweb will develop a Web3 application for BMW’s customer loyalty program. The program will include a Blockchain-based rewards program to incentivize BMW Group customers. It will determine a customer’s level and status in the ecosystem based on the loyalty rewards they receive through various actions.

Application limited to Thailand for now

Owners will be able to use their rewards to purchase goods and services from BMW and a connected ecosystem in the future. BMW will use altcoin project BNB Chain to process transactions. Coinweb CEO Toby Gilbert provided information on how customers will be rewarded under the upcoming loyalty program. In this context, Gilbert said, customers will be rewarded every time they have contact points with the BMW ecosystem to ‘buy a new car or go to a workshop’. Continuing his explanation, Gilbert also added:

We will reward our customers with loyalty points. In addition, customers will have the opportunity to spend within the ecosystem. Our hope is that the application will be global in the future. However, currently our partnership is valid for Thailand.

BMW Thailand’s head of leasing, Bjorn Antonsson, also made a statement on the subject. Antonsson said the company has been actively monitoring the progress of decentralized technology and various use cases for years. Antonsson noted that the integration of blockchain technology into their daily operations will eliminate manual paperwork. He also stated that it will contribute to the efficiency and transparency of the company.

Automakers take an interest in Blockchain

cryptocoin.com As you can follow, automakers’ interest in decentralized technology is nothing new. The auto giant has been showing interest in this technology since 2018. BMW first used Blockchain technology to track cobalt sourcing and ensure its products are sourced using ethical practices.

Apart from BMW, another popular German automaker Mercedes is one of those who stepped into this field. Mercedes actively used Non Fungible Tokens (NFT) and cryptocurrencies as a promotional tool. Italian automaker Alfa Romeo uses Blockchain technology to track car records. Meanwhile, Ferrari’s new deal also points to NFT integration.


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