BMW is taking the lead in the web3 race among automakers after announcing plans to fully integrate blockchain into its operations.
BMW to use the BNB blockchain
The German automaker BMW has partnered with BNB Chain, the blockchain division of the world’s largest cryptocurrency exchange platform Binance, and blockchain infrastructure platform Coinweb.
Coinweb brings blockchain technology to BMW – Introducing their mass user base in Thailand to the cross-chain infrastructure.https://t.co/lrKKc9YeaG
Ecstatic to be ending 2022 with a💥
What will 2023 bring us? pic.twitter.com/Z666FHlEzS
— Coinweb.io (@CoinwebOfficial) December 29, 2022
According to the announcement, BMW also plans to introduce a blockchain-based loyalty program for its customers in Thailand, having integrated web3 into its system.
In the case of BMW, BNB Chain will handle the transactions, while Coinweb will provide the necessary infrastructure to integrate blockchain technology into the company’s operations.
In addition, Coinweb will develop an app for BMW customers to use in the loyalty program.
Toby Gilbert, CEO of Coinweb, had this to say about the loyalty program, “Customers will be rewarded with loyalty points and will be able to spend within the ecosystem. We hope to expand globally in the future, but for now our partnership is in Thailand.”
BMW and Web3
In another notable foray by BMW into Web3, the company used blockchain technology to track its cobalt supplies in 2018.
Last month, BMW filed a trademark application for its logo to enter the metaverse and the world of non-fungible tokens (NFTs).
Automakers on the Web3
Although several automakers have made forays into Web3, most have focused solely on offering sporadic supplies of non-fungible tokens.
Lamborghini’s approach was more interesting: the GT Racing Team franchise announced in July that it had partnered with Go2NFT and blockchain platform Skey Network to create an NFT certification for race car components.
During Art Basel Miami, Porsche launched a brand experience in the metaverse and unveiled its first collection of non-fungible tokens (NFT).
In December, Mercedes-Benz unveiled ‘Mercedes Benz’, ‘Mercedes’, ‘S-Class’, ‘G-Class’ and ‘Maybach’ brand applications for metaverse and NFT.
And most recently, Rolls-Royce Motor launched ‘The Six Elements’: six one-of-a-kind Phantom Extended Series II cars combined with an exclusive NFT in collaboration with world-renowned British artist Sacha Jafri.
“We are happy to collaborate with the great team at Coinweb and look forward to seeing the incredible effects of adding DLT technology to our environment.”We anticipate that this shift from manual documents to immutable records on the blockchain will greatly contribute to efficiency and iron-clad transparency,” said BMW Leasing (Thailand) Co,.Ltd managing director Bjorn Antonsson. “For our oldest data customers here in Thailand, we hope to continuously nurture their loyalty as we reward them with the blockchain-based reward system that gives real value and will be launched in 2023.”
Coinweb.io is a tier 2 cross-chain computing platform that began its journey in mid-2017.
With an impressive lineup of team members and a board of advisors from the worlds of traditional technology, business and blockchain, Coinweb believes it solves some of the most critical problems that exist in Distributed Ledger Technology today.
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