Recently, it has been observed that many major manufacturing companies are beginning to lean towards the overall NFT space. Now it’s time for BMW, the absolute top-of-the-line automotive manufacturer based in Germany. The company ultimately decided to incorporate blockchain technology into its existing organizational structure. Therefore, its purpose and intent is to be actively involved in the BNB chain, along with Coinweb, which happens to be a blockchain infrastructure company. As part of our ongoing plans, the inclusion of this blockchain technology will be effectively utilized in our daily operations. On top of all this, BMW is building a blockchain loyalty program, especially for Thailand-based customers.
Incorporating blockchain technology, by the way, is not at all foreign to BMW. In 2018, it utilized blockchain technology to control and monitor cobalt supplies. However, in the current scenario, the automaker’s plan and vision is to utilize his BNB chain for settlement of transactions. In the case of Coinweb, it will be an area that provides a decentralized framework.
The use of blockchain technology can be divided into two distinct phases. In the initiation process, decentralized technology plays an active role in ongoing business functions. This is done with the sole purpose of eliminating all strenuous manual-based processes. Along with that, it will also play a role in speeding up corporate financial services. However, in the case of Coinweb, the usage procedure is done in the second stage of the project. In this case, a company has built a completely customized Web3 application and plans to build a customer loyalty program for the company.
According to Coinweb CEO Toby Gilbert, all connected customers will stand to receive rewards including loyalty points. Customers can then use them within the ecosystem. At the moment, this is aimed at customers who happen to be based in Thailand. For loyalty points earned by a customer, it determines the demographics and height of the customer.
As part of future plans, owners will find themselves in a position to redeem awards for the process of purchasing all kinds of desired products and services from BMW itself and the connected environment. . If all transactions are executed, they will be duly settled by his BNB chain.