{"id":29771,"date":"2023-01-04T13:58:53","date_gmt":"2023-01-04T13:58:53","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/01\/04\/bmw-thailand-to-use-blockchain-technology-for-daily-operations\/"},"modified":"2023-01-04T13:58:53","modified_gmt":"2023-01-04T13:58:53","slug":"bmw-thailand-to-use-blockchain-technology-for-daily-operations","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/01\/04\/bmw-thailand-to-use-blockchain-technology-for-daily-operations\/","title":{"rendered":"BMW Thailand To Use Blockchain Technology For Daily Operations"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"divBody\">\n<div id=\"ctl00_CPI_dvBody\">\n<p> Luxury car maker BMW is set to use blockchain <span class=\"landLinks\">technology<\/span> in Thailand for their daily operations. BMW Thailand has partnered blockchain company Coinweb to develop tools to automate the vehicle financing processes and loyalty program.<\/p>\n<p>BMW Thailand will use Blockchain&#8217;s Distributed Ledger Technology (DLT) to bring a whole new experience to its customer base in Thailand.<\/p>\n<p>Coinweb will be advising BMW Financial Services on cross-chain Smart Contract set-up and implementation as well as a cross-chain Customer Loyalty Programme.<\/p>\n<p>The project is set to be executed in two phases. The first phase will see a feasibility assessment for cross-chain parallel-executing Smart Contracts with the aim to automate time-consuming manual processes and streamline operations for vehicle finance offered by BMW through BMW Leasing (Thailand) Co. Ltd.<\/p>\n<p>The company said this may include a fully integrated Anti Money Laundering (AML) &amp; Know Your Customer (KYC) tool based on Thailand NDID that will mitigate pain points associated with vehicle finance applications.<\/p>\n<p>The second phase will see Coinweb build a customized SaaS Web3 application for a Customer Loyalty Program, with transactions broadcast to multiple blockchains, with Binance&#8217;s BNB chain being chosen as the anchor chain due to performance suitability in regards to cost, speed, and capacity.<\/p>\n<p>The loyalty program incentivises BMW Group customers with a blockchain-based rewards program. Owners will be able to redeem the rewards for products and services both with BMW and in the future within a connected ecosystem. The blockchain-based rewards system will be rolled out in 2023.<\/p>\n<p>This will see a shift of manual paperwork towards immutable records on the blockchain to immensely contribute to infallible efficiency and transparency.<\/p>\n<p>BMW Group is not new to blockchain technology. It co-founded the Mobility Open Blockchain Initiative (MOBI) in 2018. It is an industry-wide solution to enable all partners participating to link their <span class=\"landLinks\">business<\/span> processes more closely and coordinate between companies. <\/p>\n<\/p>\n<\/div><\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>BMW Thailand To Use Blockchain Technology For Daily Operations<\/a><br \/>\n<br \/>2023-01-04 13:58:53<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxury car maker BMW is set to use blockchain technology in Thailand for their daily operations. BMW Thailand has partnered blockchain company Coinweb to develop tools to automate the vehicle&#8230;<\/p>\n","protected":false},"author":2,"featured_media":29772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1563089145-599997674d42?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=1950&q=80","fifu_image_alt":"","footnotes":""},"categories":[32],"tags":[],"class_list":["post-29771","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/29771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=29771"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/29771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/29772"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=29771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=29771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=29771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}