Oct 07, 2020
BMW Korea announced Wednesday that the company would soon launch a blockchain-powered program in South Korea. It is the South Korean subsidiary of the German automaker BMW. The program, called BMW Vantage, will encourage customers to interact with the brand and, in return, give them rewards.
BMW will launch the blockchain-powered program in South Korea in the initial phase. But the world-famous automaker aims to bring the program to the global market over time. The app, developed using the blockchain technology will enable customers to collect reward points and take advantage of the company’s products and services at a discount.
Customers who buy new BMW models for the first time will be allowed to receive points between 300,000 and 500,000. The buyers of models and series such as X1, X2, BMW 1, and BMW 2 will get up to 600,000 points. Finally, buyers of the latest and largest series such as BMW 5 or BMW 6, will be able to earn up to 900.000 points.
The only way to earn points is by not just buying cars. The BMW Vintage program offers users the chance to earn points in different ways. According to the words of BMW Korea, customers who use the company’s mobile app and participate in its games and events can also earn membership points.
Blockchain-based applications have long been accepting in South Korea. For example, citizens in Busan (the second-largest city in the country) have registered digital IDs in a public ledger. This allows city services such as driver’s licenses to become undocumented. Also, BMW has several blockchain-based projects. BMW develops vehicle identification standards together with Ford, GM, Honda, and others.