BMW partnered with Coinweb to implement a decentralized and efficient architecture, as well as the BNB chain to help settle its every transaction.
BMW integrated blockchain solutions via BNB Chain and Coinweb, a blockchain infrastructure firm, to automate routine operations and provide blockchain loyalty programs to its customers in Thailand.
According to reports, BMW joined Coinweb to provide a decentralized and efficient architecture to its operations. The BNB network, on the other hand, will assist the car manufacturer in completing every transaction.
In the first phase, BMW will focus on fully automating all of its business activities, particularly its financial operations.
Notably, the second phase will concentrate on launching a new customer loyalty program via a customized Web3 app developed by Coinweb. This app will use reward points to determine each customer’s position in the BMW ecosystem. BMW customers will be able to purchase its products in the near future as a result of the rewards, with transactions settled on the BNB chain.
It is worth noting that BMW is subscribing to the potential of blockchain technology for the second time, having done so four years ago to track its cobalt supply.
In addition to BMW, Ford launched a blockchain pilot in 2019 to ensure that cobalt is sourced ethically and without the use of child labor. Furthermore, automakers such as Volkswagen and Hyundai will use blockchain technology in their operations.