In order to enable a cross-chain customer loyalty program in Thailand, BMW will leverage technology from both Coinweb and BNB Chain. The integration will be carried out by BMW in two stages, with the goal of modernizing the auto industry with blockchain technology.
As stated in the December 29 news release, the first phase would automate time-consuming procedures and streamline automobile finance operations. In the second stage, Coinweb will create a multichain Web3 application anchored on BNB Chain for its users. BNB Chain is recommended because of its low fees and quick transaction rates.
“We are very excited to be working with such a great team at Coinweb, and anticipate all the positive outcomes of embracing DLT into our ecosystem. We foresee this shift of manual paperwork towards immutable records on the blockchain to immensely contribute to infallible efficiency and transparency,” CEO Bjorn Antonsson of BMW Leasing (Thailand) Co,.Ltd, said in the release.
BMW plans to use Coinweb to give its customers additional options to use rewards to buy goods and services. A new customer economic ecosystem will be made possible by the technology, which is only possible with blockchain technology.
What is BNB Chain?
The BNB Chain, formerly known as the Binance Smart Chain (BSC), is a blockchain powered by Binance that is community-driven, decentralized, and censorship-resistant. It is made up of the EVM-compatible BNB Beacon Chain and BNB Smart Chain, which support a multi-chain ecosystem. BNB Chain seeks to create the infrastructure necessary to support the global parallel virtual economy through the idea of MetaFI.
GIPHY App Key not set. Please check settings