BMW Adopts Blockchain for Operations and Customer Rewards

BMW, a German automaker, is utilizing blockchain technology exclusively for the Thai market in an effort to increase productivity and customer engagement.

The company hired Coinweb as its blockchain infrastructure provider and BNB Chain as its transaction settlement platform to help with its big transition into Web3.

The first phase of the implementation of blockchain additions will concern daily operations. Here, the company wants to use technology to streamline its financial services and automate labor-intensive manual processes.

An updated customer loyalty programme will be the vehicle for the second stage of blockchain integration.

Each customer’s standing in the BMW ecosystem will be determined by how many reward points they have, which they accrue by carrying out various actions like purchasing a new car or having one serviced. The program can be accessed via an app created by Coinweb.

Customers will be able to use their points to buy goods and services from BMW as well as associated ecosystems, though specifics are still to be determined.

The blockchain features are currently only accessible in Thailand, but Coinweb CEO Toby Gilbert has since stated that BMW intends to eventually conduct an international rollout.

Although this project is BMW’s most significant to date, it is not the company’s first foray into blockchain technology. After testing the technology since 2018, the company has since used it to track its cobalt supply and ensure that its products are produced ethically.

Additionally, it is not the only blockchain-related automotive effort in recent days; last week, Mercedes, a fellow German brand, filed for five NFT trademarks.