BMW to Use Blockchain Tech and Reward Drivers with Tokens

In partnership with blockchain startup DOVU, the German multinational auto giant will be using blockchain tech and issue tokens to drivers as rewards.

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Auto giant BMW is partnering with DOVU to utilize blockchain tech and incentivize drivers into logging the mileage in leased vehicles.

The system that DOVU created will allow BMW to understand what their vehicles go through.

In an interview with CoinDesk, DOVU Head of Product Alex Morris said that drivers who participate and log mileage will be rewarded with tokens that can be spent on services:

“[Drivers] can earn tokens, but down the line they’ll also be able to spend tokens on services – for example, they might be able to get replacement tires or something like that using the Dovu ecosystem.”

According to Morris, BMW had defined the parameters of rewards in a smart contract and they chose mileage. The mileage tracking system they use now are “unreliable” in that they do not give the company data that they could actually use.

Morris says that mileage is the most important factor in determining the resale value of vehicles:

“The problem is quite an important one for them to solve, so when we suggested tokens to incentivize them to do that they were really excited.”

The partnership is now moving on to phase two: trial phase. Actual drivers will test the system for around 6-8 weeks.

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