BMW will roll out decentralized technology in two stages. Initially, the company plans to utilize this innovative solution to reduce complex paperwork in its daily operations. Later, they aim to develop a customer loyalty program that rewards customers with tokens or points for their purchases and activities associated with BMW products and services.

BMW, a renowned German car maker, plans to leverage blockchain technology in its everyday operations and build a loyalty program utilizing the same for their customers based in Thailand. The organization has brought on two esteemed firms – Coinweb as its decentralized frameworks provider and BNB Chain to handle the transactions expeditiously.

BMW is taking the plunge into blockchain technology by introducing its integration to its daily operations in two progressive steps. Primarily, they would like to automate cumbersome manual procedures while sharpening automobile financing services with the help of decentralized tech.

In Phase Two, Coinweb will create a tailored Web3 program for BMW’s customer loyalty scheme. This blockchain-based rewards system encourages customers of the BMW Group to participate in the ecosystem and climb its tiers based on their accumulated reward points acquired through different activities.

As part of the upcoming rewards program, owners will be able to use their points to not only purchase BMW products and services but also gain access to an integrated ecosystem. For smooth transactions, Binance’s native BTC chain will be used. Coinweb CEO Toby Gilbert further elaborated on the customer benefits when he said that customers can receive loyalty points every time they come in contact with any aspect of the BMW experience such as “buying a new car or servicing it”.

BMW Thailand’s leasing head Bjorn Antonsson indicated that the company has been keeping a close eye on decentralized technology and its countless applications over time. Antonsson anticipates that introducing blockchain tech into their daily operations would eliminate tedious paperwork, contributing to greater efficiency and transparency for the firm.

Automobile manufacturers’ interest in decentralized technology is far from a new revelation, with BMW involved since 2018. To ensure ethical production practices, BMW utilized blockchain tech to monitor their cobalt supply. Mercedes has also employed non-fungible tokens and crypto coins as promotional tools. Alfa Romeo used the same technology for tracking car records while Ferrari’s latest deal suggests NFT integration too!