BMW to Employ BNB Chain For Blockchain Loyalty Program
BMW will employ BNB Chain and Coinweb technologies to support a cross-chain Customer Loyalty Program in Thailand. BMW will implement the connectivity in two steps and attempt to modernize the manufacturer using the effectiveness of blockchain.
The initial stage would streamline time-consuming procedures and optimize automobile financing operations, according to a press statement dated December 29. In the second stage, Coinweb will develop a multichain Web3 solution for consumers that is rooted on BNB Chain. The low transaction costs and quick transaction times are given as justifications for utilizing BNB Chain.
“We are thrilled to be collaborating with such a talented group at Coinweb, and we eagerly await the beneficial implications of adopting DLT in our environment. We anticipate that the transition from manual documentation to unchangeable documents on the blockchain would significantly pave way for unfailing transparency and effectiveness.
“In a press statement, BMW Leasing (Thailand) Co., Ltd.’s chief executive officer Bjorn Antonsson stated: “We look ahead to further nurturing the loyalty of our long-standing clients in Thailand, while compensating them with a blockchain-powered rewards system that will give genuine value next year,”
BMW will utilize Coinweb to provide new opportunities for automobile owners to get incentives for purchasing products and services. The technology will facilitate the creation of a new consumer economic environment that could only be made possible by blockchain technology.
“”It is a privilege to trial such an interesting initiative with BMW, Coinweb’s initial partnership with such a prominent household name,” said Toby Gilbert, CEO of Coinweb. “Once this initiative is fully deployed, we believe it will serve as a standard to demonstrate that conventional companies can completely embrace blockchain technology and gain enormously from it without compromising their basic values and goal.”
BNB Chain, formerly referred to as the Binance Smart Chain (BSC), is a community-led, decentralized, and censorship-resistant blockchain fueled by Binance. It comprises of BNB Beacon Chain and BNB Smart Chain, both of which are EVM-compatible and support a multi-chain environment. BNB Chain intends to provide the framework for the world’s simultaneous digital environment using the MetaFI idea.