BMW Chooses BNB Chain And Coinweb For Blockchain Loyalty Program
BMW will use BNB Chain to set transactions on their incoming blockchain system.
- BMW is planning to use decentralized technology in the development of their customer loyalty program as well as their day-to-day operations.
- Other brands – such as Mercedes, Alfa Romeo, and Ferrari – have also expressed interest in investigating decentralized technology further.
Smart Contracts In The Car Industry
The German carmaker BMW has partnered with Coinweb, the startup focusing on unifying blockchains, to incorporate the decentralized technology into its business. BMW will use the BNB chain to settle transactions, while Coinweb will provide decentralized infrastructure.
This incorporation will be in two phases. The first phase is incorporating blockchain tech into the carmaker’s daily operations, including admin and financial operations. The second phase is the introduction of a customer loyalty program through a Web3 application for customers.
“We foresee this shift of manual paperwork towards immutable records on the blockchain to immensely contribute to infallible efficiency and transparency”, said Bjorn Antonsson, CEO of BMW Leasing in Thailand.
BNB Chain: What and Why
Powered by Binance, the BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
The cheap fees and fast transaction speeds are cited as reasons for using BNB Chain.
By using BNB Chain, BMW is building and fostering new ecosystems filled with a range of functionalities, based around digital assets that empower mass adoption of the metaverse and also provide users and players with new use cases. Combining these different blockchain projects enables a full-fledged parallel ecosystem serving users from around the globe.
What About Other Carmakers ?
Mercedes, another German leading automobile manufacturer, is also utilizing blockchain technology. Many other automakers are now in the NFT game, including Lamborghini, Porsche, Chevrolet, Aston Martin. Even Ferrari’s recent partnership involves NFTs, while Alfa Romeo has been tracking car records with blockchain tech.
Clearly, big brands from the automobile industry implementing blockchain technology into their businesses will lead other industries to follow and drive mass adoption.
From Blockchain to Metaverse technologies, Web3 will lead to increasing immersive experience and more interactivity between brands ans users.
