BMW has decided to take the plunge into web3 by introducing blockchain technology in two core aspects: daily operations and a customer loyalty program in Thailand. Coinweb has been onboarded as its provider for decentralized architecture, while BNB Chain will be its partner for settling transactions.
To be rolled out in two phases, the integration of blockchain technology with BMW would initially begin with using the technology in its daily operations to reduce manual and time-consuming work, automate it, and simplify BMW’s automobile financing services. Further, an exclusive web3 app will be developed by Coinweb for the automobile manufacturer’s customer loyalty program, which will incentivize customers through loyalty rewards. Customers could use these rewards to make purchases from BMW.
Toby Gilbert, CEO of Coinweb said, “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.” Bjorn Antonsson, the leasing head of BMW Thailand, claimed that the company had been regularly monitoring the advancement of decentralized technology over the years and hoped it would reduce manual paperwork and increase transparency and efficiency. Automobile companies have warmed up to blockchain and web3 for years, and BMW has been no exception.