Facebook Twitter Instagram
    Crypto AcademyCrypto Academy
    • Home
    • News
    • Price Predictions
    • Price Analysis
    • NFTs
    • Learn
    • Press Releases
    • Coins
      • Bitcoin
      • Ethereum
      • Cardano
      • Safemoon
      • Dogecoin
    • Advertise on Crypto Academy
    Facebook Twitter Instagram Telegram
    Crypto AcademyCrypto Academy
    Home»News»BMW is Integrating Blockchain Technology
    News

    BMW is Integrating Blockchain Technology

    Dren.HBy Dren.HDecember 29, 2022Updated:December 29, 20222 Mins Read
    BMW is Integrating Blockchain Technology
    Share
    Facebook Twitter LinkedIn Email Reddit Telegram WhatsApp

    Car manufacturer giant BMW aims to integrate blockchain technology via Coinweb with hopes to revolutionize the car industry.

    BMW, one of the biggest car manufacturers based in Germany, is working on integrating blockchain technology.

    It has recently partnered with Coinweb in order to implement the infrastructure needed for initiating a blockchain loyalty program. At first, the plan is to start with customers in Thailand.

    Coinweb brings blockchain technology to BMW – Introducing their mass user base in Thailand to the cross-chain infrastructure.https://t.co/lrKKc9YeaG

    Ecstatic to be ending 2022 with a💥
    What will 2023 bring us? pic.twitter.com/Z666FHlEzS

    — Coinweb.io (@CoinwebOfficial) December 29, 2022

    This plan has two key phases. In the first stage, they aim to implement blockchain technology for day-to-day operations, in order to successfully shorten the time it takes to operate all the financial services in the company.

    In the second stage, they will implement a Web 3.0 app for users in Thailand. Through this app, users will be able to receive customer loyalty rewards via blockchain. 

    These rewards can then be monetized and used to buy other services from BMW. The plan is to use the BNB chain.

    Toby Gilbert, CEO of Coinweb, stated that customers will be rewarded every time they interact with the BMW ecosystem. Simply put, every time these users buy a service from BMW, they will receive loyalty points.

    BMW representatives also stated that they had been planning for blockchain adoption for a while now. Those representatives stated that blockchain can make the company much more efficient and transparent.

    It is not the first time BMW uses blockchain technology, however. They have been using blockchain for supply-chain purposes and making sure everything runs smoothly (and ethically) on the supply side.

    But BMW is not the only one to do so. The likes of Mercedes, Ferrari, and Alfa Romeo also touched upon Web 3.0 in recent months. 

    It will be interesting to see how the use of blockchain will help BMW and how it may influence the crypto market as a result.

    Previous ArticleSEC Official Dan Berkovitz Steps Down After Several Meetings With SBF 
    Next Article Goldman Sachs Plans To Cut Workforce By 8%

    Related Posts

    Russia to Utilize Cryptocurrency Exchanges for Global Financial Transactions

    Temporary Suspension of BKEX Services Amidst Money Laundering Investigation

    Gemini To Base European Operations in Dublin

    Facebook Twitter Instagram Telegram RSS
    • Home
    • Advertise on Crypto Academy
    • Terms and Conditions
    • Privacy Policy
    © 2023 Crypto-Academy.org. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version