• BMW is integrating blockchain technology into its daily operations and developing a customer loyalty program.
• The first phase of the project will involve automating time-consuming manual processes and streamlining the company’s automobile financing services.
• The second phase of the project will involve the development of a blockchain-based rewards scheme to incentivize BMW Group customers.
German car manufacturer BMW recently announced its plans to integrate blockchain technology into its daily operations and create a customer loyalty program for its customers in Thailand. The popular carmaker has onboarded blockchain infrastructure firm Coinweb as its decentralized architecture provider and Binance’s native BNB chain for settling transactions.
The integration of blockchain technology into BMW’s workflow will take place in two phases. Firstly, the decentralized tech will be integrated into BMW’s daily operations with the goal of automating time-consuming manual processes and streamlining the company’s automobile financing services. This will allow BMW to reduce the paperwork and bureaucratic hurdles associated with traditional financing systems, while providing customers with a more efficient and secure system.
The second phase of the project would see Coinweb develop a customized Web3 application for BMW’s customer loyalty program. The 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 via various actions. Owners will be able to use their rewards to purchase goods and services from BMW as well as from a linked ecosystem in the future.
The rewards system will be based on a simple point system that rewards customers for interacting with the BMW brand. Customers can earn points by taking part in surveys, making purchases from BMW and participating in promotional campaigns. Points can also be earned by referring friends to the loyalty program and sharing their BMW experiences on social media.
Once customers have accumulated enough points, they can use them to purchase goods and services from BMW, or exchange them for other rewards such as discounts or special offers. The rewards program will also be integrated with BNB chain, allowing customers to pay for goods and services with their rewards points.
The BMW blockchain loyalty program is set to be launched in the first quarter of 2021 and will be available to customers in Thailand. The company hopes to expand the program to other countries in the near future. Through this initiative, BMW is hoping to provide customers with a more efficient and secure system of rewards and to provide them with a more personalized experience.