BMW Modernizes Operations Using Coinweb and BNB Blockchain Technology

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By Degen Lipsa

BMW, a German automaker, has partnered with Coinweb and BNB Chain in order to integrate blockchain into its daily operations and create a blockchain loyalty programme for its Thai customers as declared on 29th December,2022.

According to the sources, the plan will be executed in two phases.

The partnership’s initial stage will see the development of a roadmap for evaluating the use of cross-chain, concurrently executing smart contracts to replace time- and resource-consuming manual processes. Several blockchains will be used by Coinweb, the contractor, with the BNB chain serving as the anchor chain.

Also, To simplify the application process for auto finance, Coinweb intends to implement a fully integrated Know Your Customer (KYC) and Anti Money Laundering (AML) tool based on Thailand’s NDID system.

In the second stage, Coinweb would create a specific Web3 application for the BMW customer loyalty programe. Customers of the BMW Group will be rewarded through the programe using a blockchain-based system. The loyalty rewards that a consumer has accumulated through various actions will determine their tier and status within the ecosystem.

Planning to improve the efficiency, Bjorn Antonsson, CEO of BMW Thailand addressed that they were grateful to work with Coinweb and integrate DLT’s into their system. Meanwhile, Toby Gilbert, CEO of Coinweb, hopes that the project once launched would serve as a reference for the companies that are looking to leverage the benefits of Blockchain technology.

BMW intends to incorporate blockchain technology into its everyday operations and provide its Thai customers with a blockchain loyalty programme.
BMW to partner with Coinweb to acquire the advantages of Web3

In 2018, BMW became the first automaker to investigate blockchain after using the technology to trace its cobalt supply and make sure that all of its goods were delivered in accordance with international regulations. After which multiple automotive companies have established themselves in the WEB3 like TESLA, Mercedes, Italian Alfa Romeo.

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