BMW Launches Blockchain-Based Customer Loyalty Program in Thailand

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  • BMW is integrating blockchain technology into its operations in Thailand and developing a customer loyalty program based on blockchain.
  • The company has enlisted the help of blockchain infrastructure firm Coinweb as its decentralized architecture provider and Binance's BNB chain for settling transactions.
  • The customer loyalty program will use a blockchain-based rewards scheme to incentivize BMW Group customers.
  • Customers will be able to use their rewards to purchase goods and services from BMW as well as from a linked ecosystem in the future.
  • Coinweb CEO Toby Gilbert hopes that the project can be used as a benchmark to show that traditional businesses can fully leverage blockchain technology and benefit from it without deviating from their core values and mission.

German car manufacturer BMW is integrating blockchain technology into its operations in Thailand and developing a customer loyalty program based on blockchain. The company has enlisted the help of blockchain infrastructure firm Coinweb as its decentralized architecture provider and Binance's BNB chain for settling transactions.

BMW and Coinweb
Source: DYORspot.com

Partnership with Coinweb and Binance:

The integration of blockchain technology into BMW's workflow will take place in two phases. Phase 1 will involve integrating decentralized technology into BMW's daily operations with the goal of automating time-consuming manual processes and streamlining the company's automobile financing services. Phase 2 will see Coinweb develop a customized Web3 application for BMW's customer loyalty program.

Details of Customer Loyalty Program:

The customer loyalty program will use a blockchain-based rewards scheme to incentivize BMW Group customers. A customer's tier and status in the ecosystem will be determined by the loyalty rewards they have acquired through various actions, such as buying a new car or going for a service. Customers will be able to use their rewards to purchase goods and services from BMW as well as from a linked ecosystem in the future.

BMW's Previous Involvement with Decentralized Technology:

BMW Thailand's leasing head, Bjorn Antonsson, said the company has been actively monitoring the progress of decentralized technology and its various use cases over the years. Antonsson hopes that the integration of blockchain technology in their daily operations will eliminate the manual paperwork and contribute to the company's efficiency and transparency. In 2018, BMW began using blockchain technology to track its cobalt supply and ensure ethical practices.

Conclusion:

Coinweb CEO Toby Gilbert said the company is excited to be working with BMW on such an "exciting project." Gilbert hopes that, once fully launched, the project can be used as a benchmark to prove that traditional businesses can fully leverage blockchain technology and benefit greatly from it without deviating from their core values and mission.

FAQ about BMW's Blockchain-Based Customer Loyalty Program in Thailand

What is BMW integrating into its operations in Thailand?

BMW is integrating blockchain technology into its operations in Thailand.

What is BMW developing in Thailand?

BMW is developing a customer loyalty program based on blockchain in Thailand.

Who is helping BMW with its integration and development?

BMW has enlisted the help of blockchain infrastructure firm Coinweb as its decentralized architecture provider and Binance's BNB chain for settling transactions.

How will the customer loyalty program work?

The customer loyalty program will use a blockchain-based rewards scheme to incentivize BMW Group customers. Customers' tiers and status in the ecosystem will be determined by the loyalty rewards they have acquired through various actions, such as buying a new car or going for a service. Customers will be able to use their rewards to purchase goods and services from BMW as well as from a linked ecosystem in the future.

What is the goal of the customer loyalty program?

The goal of the customer loyalty program is to incentivize BMW Group customers and encourage them to engage with the BMW ecosystem. It aims to cultivate customer loyalty and reward customers for their loyalty through the use of blockchain technology.

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