BMW Partners With Coinweb To Deliver a New Blockchain Project

Coinweb and BMW have signed a partnership agreement to deliver blockchain-based tools to its operations. Coinweb will be advising BMW financial services on cross-chain Smart Contract set-up and implementation as well as a cross-chain Customer Loyalty Program.

the German luxury car manufacturer, announced a partnership with Coinweb On Dec. 29,2022.

This new project will be delivered in two phases. The first phase includes the development of a smart contracts platform with the objective of streamlining different processes that need to be completed for the financing of BMW-branded vehicles. According to a press release, this would encompass the implementation of a “fully integrated Anti Money Laundering (AML) & Know Your Customer (KYC) tool” adapted to Thailand’s local laws.

The second phase will involve creating a blockchain-based loyalty program to reward BMW customers in Thailand for using the company’s products and services, assigning a rank to each customer directly related to their rewards accumulation.

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.

said CEO Bjorn Antonsson of BMW Leasing (Thailand) Co

Coinweb.io is a layer-2 cross-chain computation platform that began its journey in mid-2017. With an impressive line-up of team members and a board of advisors from the worlds of traditional technology, business and blockchain, Coinweb believes they are solving some of the most critical problems that exist within Distributed Ledger Technology today.