BMW Partners With Coinweb & BNB Chain to Launch Blockchain Loyalty Program

• BMW is partnering with Coinweb and BNB Chain to develop a blockchain loyalty program.
• The two-phase project execution plan will involve Coinweb and BNB Chain offering BMW access to DLT, as well as developing blockchain-based customized SaaS web3 loyalty programs with incentives for BMW customers.
• BNB Chain has been chosen as the anchor chain to ensure minimal cost, better speeds, and higher scalability.

German luxury automaker BMW is partnering with Coinweb and BNB Chain to develop a blockchain loyalty program for their operations and customer services in Thailand. The two-phase project execution plan will involve Coinweb and BNB Chain offering BMW unfettered access to decentralized ledger technology (DLT), as well as developing blockchain-based customized SaaS web3 loyalty programs with incentives for BMW customers.

In the first phase, Coinweb will conduct a comprehensive feasibility assessment for cross-chain parallel-executing smart contracts meant to automate and streamline all finance operations of BMW. This will include the integration of anti-money laundering (AML) and know-your-customer (KYC) features with Thailand’s National Digital Identity (NDID).

The second phase will involve building the loyalty programs with modalities for incentivizing BMW customers. All incentives or rewards earned by customers through activities will be linked to their tier in the BMW ecosystem, and the number of dividends they have will determine their tier. Due to the immutability and scalability of blockchain technology, the connected ecosystem makes it easy for rewards owners to quickly redeem their rewards for products and services.

To ensure minimal cost, better speeds, and higher scalability, BNB Chain has been chosen as the anchor chain for the BMW loyalty program. Bjorn Antonsson, CEO of BMW Leasing (Thailand), expressed his excitement about the partnership, stating that it “will open up new opportunities for customers to benefit from the advantages of blockchain technology.” He added that “This initiative will create a better customer experience and enable BMW to better serve its customers.”

The partnership between BMW and Coinweb and BNB Chain is a major step towards incorporating blockchain technology into the automotive industry. It will not only open up new opportunities for customers, but will also help BMW better serve its customers. The loyalty program will provide more convenience and rewards for customers, as well as better security and transparency.