3 months ago 2 min read

Blockchain Technology Used by BMW as Part of Loyalty Program

bmw-coinweb-bnb-web3-toby gilbert

Many leading manufacturers have recently been seen to be shifting their focus toward the whole NFT market. Now it's the time of BMW, the world's most prestigious automaker based in Germany, which has finally made the decision to pursue the integration of blockchain technology into its current organizational structure. As a result, it intends to actively interact with the BNB chain with Coinweb, a company that provides blockchain infrastructure. This adoption of blockchain technology will be successfully applied in routine operations as part of its ongoing plans. In addition to all of this, BMW is developing a blockchain loyalty program specifically for its Thai clients.

Incorporating blockchain technology is actually not all that unusual for BMW. It also used blockchain technology at some point in 2018 to manage and oversee its cobalt supply. However, under the current situation, the automobile manufacturer's objectives and vision call for using the BNB network for transaction settlement. It will be in the domain of providing a decentralized framework in the case of Coinweb.

The adoption of blockchain technology will take place over the course of two distinct phases. Decentralized technology will actively participate in its initial business operations and ongoing company operations. All of the labor-intensive manual processes will be eliminated as a result of this. Additionally, it will contribute to the company's financial services moving more quickly. However, in the case of Coinweb, the project's second phase will involve the usage process. In this instance, the company intends to completely and in terms of the company's customer loyalty program develop a bespoke Web3 application.

All of the connected clients will be eligible to get benefits that include loyalty points, according to Toby Gilbert, the CEO of Coinweb. Then, customers may use them to make purchases inside the ecosystem. This specifically targets their consumers who are based in Thailand at this time. The tier and stature of the consumers are determined by the loyalty points they accumulate.

The owners will be in the position of using their rewards for the process of acquiring all types of desired goods and services from BMW itself, as well as that of a connected environment, as part of the future plans. All transactions that are completed will be properly settled by the BNB chain.

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