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BMW adopts BNB Chain for its customer loyalty program in Thailand

BMW, the first automotive brand to adopt blockchain technology several years ago, is now partnering with Coinweb to streamline some of its processes in Thailand. Thus, BMW will have a full-fledged multi-chain Web3 ecosystem in the near future, all based mainly on Binance’s BNB Chain.

BMW Collaborates with Coinweb to Use Blockchain

Coinweba company specializing in the integration of blockchain technology (DLT), partnered with BMW to streamline and secure certain operations of the German company.

The famous car manufacturer will therefore use the services of Coinweb for its operations in Thailand from the year 2023, in particular in order to automate processes usually carried out manually, or to organize vehicle financing.

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According to the press release, the use of smart contracts will allow integrate anti-money laundering tools as well as a process-based customer identification system Know your customer (KYC), all in connection with the NDIDthe Thai digital ID service.

Secondly, Coinweb provides a solution for software as a service (SaaS) for the BMW Customer Loyalty Service, all centered around Web3. Specifically, a real incentive loyalty program will be implemented through different activities, will lead to rewards to determine the rank of an individual within the ecosystem.

The rewards will initially be redeemable for BMW manufacturer’s rewards and services, then soon ” within a connected ecosystem », and all of this will work through the use of blockchain.

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The BNB channel as a keystone

According to information from Coinweb, the transactions of this future ecosystem will be interoperable between different blockchains, but it is Binance BNB Chain who will have the role of anchor chain », a motivated choice because of « its performance in terms of cost, speed and capacity “.

Bjorn Antonssonthe CEO of the Thai subsidiary of BMW, underlined the extent of this promising partnership:

“We are very happy to work with such a great team at Coinweb and we anticipate all the positive results relating to the integration of DLT technology into our ecosystem. We anticipate that the move from manual paperwork to immutable records on the blockchain will go a long way toward unfailing efficiency and transparency. Regarding our long-time customers here in Thailand, we look forward to cultivating their loyalty while rewarding them through the blockchain-based system. […]. »

BMW thus becomes the latest car manufacturer to get closer to the blockchain, shortly after its competitor Renault, which recently launched its first genR5 non-fungible token (NFT) collection. Also this summer, Mercedes-Benz adopted the Polygon sidechain (MATIC) for a marketplace project.

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Published by Editions Larousse

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Source : Press release

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