Cryptocurrencies

BMW Ready to Launch its Blockchain and Cryptocurrency-Based Rewards Program! – Cryptocurrencies

We had already written you a paper on a BMW taking the blockchain turn. It was April 2020 but hey, we were in another world, in the one before the confinement. BMW is now relying on the mushroom and “blockchain” itself a little more with its reward points system. A reliable network for a reliable car: logical, right?


Good points at BMW

Customers of Bmw will soon be able to obtain blockchain tokens as part of a loyalty program called Bmw vantage.

Daily The Korea Times indicated that the subsidiary BMW Korea will be the first branch to test the program ahead of an international launch, scheduled for late 2020.

The program is based on a system of traceable points on the blockchain. The first buyers of new models can get between 300,000 to 500,000 points.

Acquirers of existing vehicles such as the X1 and X2 models as well as the Bmw Series 1 and 2 can receive up to 600,000 points.

For series models Bmw5 or Bmw6, these points can go up to 900,000. Customers making redemptions will receive additional points depending on the price of the vehicles.

A greener, more affordable, blockchain-style BMW

Buying vehicles isn’t the only way to get points. BMW Korea has designed a gaming and social networking application that can also be used to receive rewards.

In general, the aim is to offer discounts on the maintenance of their vehicles and other services.

Customers belonging to the higher “third parties” will receive invitations to cultural events organized by Bmw.

The automobile company has developed several blockchain solutions both at the consumer level but also, as part of its business-to-business operations.

As co-founder of Mobility Open Blockchain Initiative (MOBI), the manufacturer is working with blockchain companies to develop greener and more affordable mobility solutions.

In March 2020, Bmw announced the deployment of a solution for its supply chain, PartChain.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Soon the possibility of buying your BMW in Bitcoin (BTC)? Tesla is therefore not the only one who can claim to have a certain affinity with the cryptosphere. With a BMW now rolling on the blockchain roads, cryptocurrencies will make their entry into the daily lives of many motorists: a powerful engine to accelerate their adoption safely.

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