Site icon Crypto Academy

BMW is Integrating Blockchain Technology

BMW is Integrating Blockchain Technology

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.

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.

Exit mobile version