BMW Korea Pilots Blockchain Based Rewards Program Ahead of Worldwide Rollout October 7, 2020 October 7, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 7, 2020 by Kelly Cromley

BMW Korea Pilots Blockchain Based Rewards Program Ahead of Worldwide Rollout

BMW customers will soon begin receiving blockchain rewards under the membership scheme named BMW Vantage. According to The Korea Times, BMW Korea is the foremost division of BMW Group to pilot the novel scheme and intends to completely roll out it in the country by the end of 2020. If the trial succeeds, the company aims for a worldwide launch.

The aforesaid program rewards points utilizing blockchain technology to safely set aside and monitor tokens for partaking clients. Those who purchase latest BMW models for the first time could be rewarded with 300,000 to 500,000 points.

Those who buy old models of BMW, for example X1, X2, BMW 1 and 2 series could be rewarded with 600,000 points. Likewise, buyers of BMW5 or BMW 6 series cars will be rewarded with 900,000 points. For buying pre-owned BMW, customers will be rewarded additional points based on vehicles prices.

Purchasing BMW cars is not the only option available to earn reward points. An app with social gaming features were introduced by BMW Korea with which users will be able to earn reward points.

Broadly, the objective of points based program will be to offer resolute users with rebates on car maintenance and other services offered by BMW. Those placed in a higher tier in the program will receive invitations to cultural activities conducted by BMW.

In the past few years, BMW has been utilizing blockchain solutions for both client facing and b2b operations. As a co-founder of the Mobility Open Blockchain Initiative, the manufacturer has partnered with elite blockchain coders and tech companies such as Hyperledger, IBM and IOTA. In March, BMW announced its intention to unveil its supply chain solution, PartChain, to 10 component suppliers this year.

Two years before, the car manufacturer was trialing with a tokenized rewards system to foster drivers to monitor mileage on their leased vehicles.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.