Victor Ugochukwu · Dec 14, 2020 . 5min read
BMW launches a Blockchain-powered rewards program in South Korea
The car manufacturer BMW is trialling the new blockchain rewards program, BMW Vantage which provides consumers tokenized points.
By Komal Joshi · Oct 8, 2020 . 5min read
BMW Korea announced the launch of a blockchain-based rewards program called BMW Vantage. BMW Vantage will be formally launched soon. It is a membership program that will provide services like accumulating reward points as coins and utilizing them for payments and discounts. It will allow consumers to utilize services over various sectors, like mobility, culture, travel, and education via affiliates.
Korea is the first country wherein BMW will launch its program, and after that, it intends to introduce the program globally. The auto company is providing the membership service to new as well as enduring consumers. When a consumer purchases a BMW vehicle, they can register on the BMW Vantage mobile app and get BMW Points, which can be used to get a discount on vehicle maintenance, or order an airport pickup service purchase a new vehicle, gifts or vouchers.
Users to gain BMW points through games and payments
Additionally, the user can also receive BMW Points via games and payments. The company has reached enduring customers who purchased a vehicle in the past three years. The initial 1,000 consumers who register will gain 30,000 coins through the app. Additionally, the automaker said in its announcement that BMW Korea intends to offer several services to experience BMW in routine life by this open platform. It plans to expand communication with consumers.
BMW is involved in various blockchain projects. It is an establishing member of the MOBI consortium and generates vehicle identity standards with Ford, Honda, GM, and others. Earlier, it collaborated with VeChain to develop a blockchain-based used car mileage app.
However, recently, it revealed the PartChain project to utilize Blockchain for the traceability of components. BMW and DHL led a blockchain test for supply chain operations in the Asia Pacific.
Moreover, Blockchain has been the first option for reward programs globally. For instance, the social media platform Reddit recently introduced its blockchain-powered community points system.
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