BMW, one of the most popular car manufacturing companies in the entire world and based in Germany wants to become part of blockchain technology.
The company has revealed its intentions of exploring blockchain technology. It is also eager to tap blockchain technology into the operations that it carries out on a daily basis.
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On top of that, the company is eager to integrate blockchain technology into its loyalty program. To be precise, the company is eager to launch a new loyalty program that will be based on blockchain technology.
BMW Wants to Launch Loyalty Program in Thailand
The company officials have confirmed that for now, they want to launch a blockchain-based loyalty program for Thailand. It clarified that it will be available for customers based in Thailand.
BMW has already gotten in touch with two major blockchain entities that will support it from the world of crypto-blockchain.
The first entity is the BNB Chain while the other one is Coinweb. BNB Chain is one of the largest blockchain networks in the crypto-blockchain industry while Coinweb is a major blockchain infrastructure firm.
The BNB Chain will be used by BMW for the purpose of settling transactions while Coinweb will provide it with blockchain capabilities for the loyalty program.
The infrastructure company will be responsible for providing the German car maker with a decentralized architecture.
Blockchain Integration into Workflow
BMW is also interested in integrating blockchain technology into its workflow. However, it will be implemented in two different phases.
The first phase will tap into the daily operations that currently take a lot of time to complete and finalize.
The integration of the blockchain and decentralized technology would allow them to introduce automation into the processes. This way, the daily operations will be made much easier than they are at the moment.
These processes will be streamlined and brought up to speed to meet the standards of the financing services of the automobile industry.
The second phase would include the support of Coinweb. The platform will be responsible for coming up with an innovative and highly engaging application based on the Web3 environment.
This is where the customers of BMW will be able to gain access to the loyalty program. The BMW Group wants to grant incentives to regular customers in Thailand.
They will introduce a rewards scheme that will be based on blockchain technology. They will be able to take full advantage of that and will be able to benefit from it as much as possible.
The system will be tier-based for the customers and they will be decided on the basis of the loyalty rewards a customer wins from the entire program.
The program will require the users to stay interactive and engaged with the protocol. This way, they will be able to earn even stronger rewards and gains from the program.
They will have to perform several actions that would allow them to earn more rewards and earn more loyalty points.
Once the users have earned the loyalty rewards, they will be able to redeem them and acquire benefits in real time. On the other hand, the users winning the loyalty points will be able to use them for various purposes.
The users will be able to purchase different kinds of goods and even acquire different services from German car manufacturers. They will remain linked with the blockchain-based ecosystem of BMW.
All the transactions made through the loyalty program will be settled through the BNB Chain. This would ensure that the transactions remain secure and safe.
Other companies such as Fiat and BMW’s biggest rival, Mercedes, are also entering blockchain technology.
While BMW is tapping the loyalty program ecosystem, these companies are going with a different approach. Both companies are aiming to go for the metaverse technology to target more audiences.