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BMW Korea trials a blockchain-powered rewards program ahead of global launch

BMW Korea trials a blockchain-powered rewards program ahead of global launch

Prospects of the world-famous automotive producer will quickly be capable of declare blockchain tokens as rewards as a part of a brand new membership scheme, referred to as BMW Vantage.

The Korea Occasions reported on Oct. 7 that BMW Korea is the primary department in BMW Group to run a trial of the brand new scheme and goals to completely launch it within the nation by the tip of 2020. It profitable, the corporate is planning a world rollout.

The points-based rewards program makes use of blockchain know-how to securely allocate and observe tokens for collaborating prospects. First-time patrons of recent BMW fashions might be eligible for 300,000–500,000 factors. Consumers of present automobiles, just like the  X1, X2, BMW 1 and a pair of sequence automobiles, might obtain as much as 600,000, and people who buy new BMW 5 or BMW 6 sequence automobiles as much as 900,000. For BMW repurchases, prospects will obtain further factors based mostly on the automobiles’ costs.

Shopping for BMW automobiles is not the one method to earn factors. BMW Korea has rolled out an app with gaming and social options, by means of which customers may earn their dues. Broadly, the aim of the points-based scheme will probably be to offer loyal customers with reductions on automotive upkeep and different BMW providers. For these with higher-tier membership in this system, the corporate is promising them invitations to cultural occasions organized by BMW

In recent times, BMW has been utilizing blockchain options for each customer-facing and business-to-business operations. As a co-founder of the Mobility Open Blockchain Initiative, the producer has collaborated with high-profile blockchain builders and tech corporations comparable to Hyperledger, IBM and IOTA.

In March, BMW introduced plans to roll out its provide chain answer, PartChain, to 10 suppliers in 2020.

As early as 2018, the automotive maker was experimenting with a tokenized rewards system to encourage drivers to trace mileage on their leased automobiles. 

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