BMW is Set to Integrate BNB Chain and Launch Blockchain Loyalty Program
The German automaker will be using blockchain technology in its daily operations and launch a Web3 loyalty program for its customers.
BMW plans to use blockchain tech for its day-to-day operations
German luxury automaker BMW is diving deeper into Web3 as the company plans for a full blockchain integration into its operations. The popular carmaker is tapping blockchain firm Coinweb as its decentralized architecture provider and BNB Chain for settling transactions.
According to reports, the integration of blockchain tech into BMW's workflow will take place in two phases. First, the decentralized tech will be integrated into its operations to automate time-consuming manual processes and streamline the company's financing services.
In the second phase, Coinweb will develop a dedicated Web3 app that customers can use for a blockchain-based loyalty program. This app will help keep tabs on each customer's tier and status in the ecosystem based on their acquired loyalty points. BMW plans to roll out this program for its Thailand-based customers after integrating Web3 into its operations.
According to Coinweb CEO Toby Gilbert, users will receive loyalty points whenever they interact with BMW's ecosystem. This can be buying a new car or sending the car for a service. He explained: "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 rollout but currently our partnership is for Thailand."
BMW first used blockchain tech in 2018 to track its cobalt supply and ensure its products were supplied using ethical practices. When NFTs and metaverse started to gain in popularity, the company took a step further to explore Web3.
In 2021, BMW unveiled JOYTOPIA, a virtual platform built from scratch for people to explore during IAA Mobility 2021. Later in 2022, it decided to preserve the noise of its engine roars within the "Museum of Sound" NFT collection. The company then unveiled The BMW iX1 Metaverse for people to explore the new BMW iX1 model before registering its logo as a trademark for future Web3 projects.