BMW Partners With Coinweb to Bring Blockchain to Loyalty Programs

• BMW has partnered with Coinweb to incorporate blockchain technology into its business operations and customer loyalty program.
• Coinweb will provide decentralized infrastructure while the BNB chain will be used to settle transactions.
• Customers will be able to redeem rewards for BMW products and services and access a closed community.

The famous German carmaker BMW has announced a partnership with Coinweb, a blockchain infrastructure firm, to incorporate blockchain technology into its business operations and customer loyalty programs. This collaboration is aimed at providing BMW customers with a seamless experience when interacting with the company.

The incorporation of blockchain technology into BMW’s operations will occur in two phases. The first phase is focused on streamlining the company’s daily operations through the elimination of paperwork. It will also enable BMW to provide more efficient automobile financing services. The second phase is the introduction of a customer loyalty program.

To facilitate this, Coinweb will create a custom Web3 app for BMW customers. This reward system will be based on blockchain and will determine the tier and status of customers in the ecosystem. In addition, customers will be able to redeem rewards for BMW products and services and access a closed community established by the company. As a means of payment, customers will be able to settle transactions using Binance’s native BNB chain.

Toby Gilbert, the Chief Executive of Coinweb, shared insights into how the reward system will work. According to him, every customer’s touchpoint within the BMW community has a record stored on the blockchain which will determine the respective customer’s status and rewards.

The partnership between BMW and Coinweb has attracted the attention of other carmakers, such as Mercedes, Alfa Romeo, and Ferrari, who have shown interest in exploring decentralized technology. Therefore, it is likely that BMW’s decision to incorporate blockchain technology into its business operations and customer loyalty program could pave the way for other carmakers to follow suit.