BMW taps Coinweb and BNB Chain for its blockchain loyalty program

BMW is seeking the advisory services of Coinweb to ideally incorporate blockchain technology into its operations and consumer services in Thailand.

bmw wants Coinweb’s Help finance, contract set-up, contract implementation and manage its cross-chain loyalty program. Two-Phase Project Execution Plan Coinweb will see more bnb The chain gives its automotive partner (BMW) unlimited access to the blockchain’s decentralized ledger technology (DLT).

What to expect from Coinweb and BMW

The first phase will involve an overall feasibility assessment cross-chain Parallel-executing smart contracts to automate and streamline all BMW finance operations.

Streamlining and automation processes will also include full integration anti Money Laundering (AML) and Know-Your-Customer (KYC) features with National Digital Identity (NDID) of Thailand.

The second phase will see Coinweb building a blockchain-based customized SaaS Web 3 loyalty program, along with ways to incentivize BMW customers.

All Incentives Rewards in loyalty programs are earned through activities, and the number of dividends a customer earns will determine his or her level in the BMW ecosystem.

Due to the immutability and scalability of blockchain technology, the connected ecosystem makes it easy for reward owners to quickly redeem their rewards for products and services.

The BNB chain has been chosen as the anchor chain that initiates the operation of the blockchain with the least cost, superior speed, and high scalability,

Commenting on the development, Björn Antonsson, CEO of BMW Leasing (Thailand), said that BMW looks forward to reaping all the benefits of this. Incorporating DLT Thrilled to collaborate with a fantastic team in our ecosystem and at Coinweb.

The CEO believes that moving away from manual records to immutable records on the blockchain will significantly increase efficiency and transparency.

Antonsson said the brand is looking forward to fostering long-term relationships with its customers in Thailand and rewarding them as well as implementing a blockchain-based rewards program that will deliver real value in 2023.

Coinweb CEO Toby Gilbert also expressed the company’s enthusiasm in piloting such a statement in a statement. initiative With brands like BMW. At the same time, he hopes that a successful development process will provide a benchmark for other traditional brands to look at the potential and opportunities of blockchain technology.

BMW isn’t the only automotive brand exploring blockchain

bmw became the first automotive brand to explore blockchain in 2018, when it used blockchain technology to track its cobalt supply and ensure that all of its products Delivered adhering to global standards.

German car manufacturer Mercedes is actively exploring blockchain technology for its loyalty programs, logistics management and using NFTs as promotional tools.

Alfa RomeoAn Italian automaker has used blockchain technology to track vehicle records, and Ferrari’s new protocol may also include NFTs.

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