The crypto sector had the entry of several significant companies throughout 2022. Major manufacturers were seen exploring the NFT market. BMW is now prepared to integrate blockchain technology into its system. The BNB chain will be used by the German manufacturer along with blockchain infrastructure company Coinweb.

BMW intends to use blockchain technology for its everyday operations. In addition to this, the car manufacturer is working on creating a blockchain loyalty program, particularly for its Thailand-based customers.

However, this isn’t the first time that the car manufacturer is employing blockchain tech. Back in 2018, BMW used blockchain tech to monitor its cobalt supply. 

BMW will use blockchain technology in its processes in two stages. The BNB chain will be used for settling transactions while Coinweb will focus on providing a decentralized architecture. The decentralized technology will first be included in BMW’s regular business operations with the aim of negating laborious manual procedures and expediting the firm’s financing services.

Coinweb will also be essential to the project’s second phase. A unique Web3 application will be made by the company just for BMW’s customer loyalty program.

User loyalty points earned through various behaviors will define their tier and position. Owners will eventually be able to use their rewards to purchase goods and services from both BMW and a connected environment in the near future. 

Coinweb CEO Toby Gilbert commented about that and said,

“Customers will be rewarded with loyalty points and they will be able to spend within the ecosystem. Our hope is that there will be a future global rollout but currently our partnership is for Thailand.”