BMW Partners with Coinweb to Introduce Blockchain Loyalty Program

• BMW has partnered with Coinweb to incorporate blockchain technology into its business operations and customer loyalty program.
• The first phase will involve smoothing out daily operations with the elimination of paperwork, and streamlining automobile financing services.
• The second phase will involve a customer loyalty program, built on blockchain, where customers can earn rewards redeemable for BMW products and services.

German carmaker BMW has announced a partnership with blockchain infrastructure firm Coinweb in order to incorporate decentralized technology into its business operations and customer loyalty program. The first phase of this initiative will involve the use of blockchain technology to bring greater efficiency to BMW’s daily operations, allowing for the elimination of paperwork and the streamlining of automobile financing services.

The second phase of this project involves the introduction of a customer loyalty program, built on blockchain, where customers can earn rewards for various actions within the BMW community. These rewards are redeemable for BMW products and services, as well as access to a closed-off community which BMW plan to establish soon. Transactions will be settled using Binance’s native BNB chain.

Coinweb CEO Toby Gilbert has commented that this partnership “will mark a major milestone for BMW as they move into the decentralized technology space”, and that every customer’s touchpoint within the BMW community will have a relevance in terms of accumulating rewards.

Other carmakers, such as Mercedes, Alfa Romeo and Ferrari, have also expressed their interest in exploring the use of blockchain technology, but BMW’s partnership with Coinweb is the first such agreement. It is hoped that this will be the first step towards a wider adoption of decentralized technology within the automotive industry.