Korea "Launches BMW" to The Blockchain World and Throws "Internet Points" at Its Customers

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(Edited)

For over half a century BMW's slogan has been Sheer Driving Pleasure, and to some extent it has quite accurately defined the experience of driving a bimmer. Only someone that hasn't done that can disagree. I have, and can't complain in any way about being behind the wheel of a BMW. The German auto maker has a long respectable history in producing some of the most appealing, sporty and luxurious vehicles in the world and it's not done yet.

Although the whole global economy has been shaken by the Corona pandemic and its financial crisis, BMW has still managed to sell 477.111 vehicles in the first quarter of the year and it's proud to announce that 14% out of them are full electric ones. The pandemic and the virus spread started in China, and China seems to have been the first to slip out of it, hence the car market for BMW that has seen the best recovery after the virus is of course China.

However, it is Korea that is launching the first rewards program based on blockchain technology and crytpocurrencies. That translates to internet points given to new buyers, and members, for acquiring new and used BMWs. The rewards program is of course not exclusive to South Korea, but just a test pilot, and it will soon be rolled out to the rest of the world. These being in my opinion, as I mentioned in a previous post as well, the first steps towards tokenizing everything in the world.

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Sooner than later cryptocurrencies will replace fiat money and will also fill holes where we didn't even know they existed. That means more ways of earning and spending, and of course some sort of control over the population given to the hands of the governments as well, with that. Can't log against human evolution though so, lets see what's the whole BMW reward program about.

BMW Vantage, as the program is named, will...

"According to BMW Korea, users of the blockchain-based reward program can get discounts on services provided by BMW and its partners, including vehicle maintenance. The company also said that high-tier membership users would also be able to receive invitations to cultural events hosted by BMW. Additionally, the statement reads that first-time BMW buyers could receive up to 500,000 points, and those who purchase second-hand BMW vehicles can get additional points based on the car’s price. Somewhat expectedly, the new BMW 5 and 6 series will bring up to 900,000 points."

Don't know if @trumpman, who seems to be the God of collecting free internet money around here, will buy himself a BMW, if the program rolls out to Greece in the near future, just for the points, but free money is free money, and such collectibles, as I call them, or the free internet money seems to be popping in all sort of industries changing the way we do marketing, finance and of course revolutionizing payment systems.. and tracking. That's just the beginning for sure.

What's unclear for now is how much is one damn BMW point be worth... and I assume it won't be too much, as I already see it just as a smart marketing strategy, and first step in testing blockchain technology by BMW, but I doubt it will be tradeable on any exchange or that it'll be volatile in any way, as BTC is for example. Probably nothing more than fidelity points, but these points will for sure use blockchain tech and that's a thing.

In that direction, the blockchainization of everything, South Korea seems to be making big steps towards implementing it on a large scale, including Blockchain-Based Payments Aimed At The Elderly. How's you country on the evolutionary scale of blockchain technology by the way?

Thanks for attention,
Adrian

Posted Using LeoFinance Beta



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