Jaguar Land Rover IOTA partnership in the works? According to the automaker, yes! They’re currently trialing blockchain technology to enable their cars to automatically report road condition data, such as traffic congestion, to navigation providers or local authorities. In return, users would receive IOTA tokens.
Using “Smart Wallet” technology, the cryptocurrency earnings can then be used to buy coffee or pay tolls, parking fees, and electric charging on the move. The wallets can also be topped up by using traditional fiat.
Jaguar said that its cars would be equipped with Internet of Things (IoT) sensors to provide data via IOTA’s “Tangle” distributed ledger, which includes messages. The data would then be sent to appropriate city authorities. For example, the car would communicate if a tree was blocking a road or a car accident occurred – as well as providing more accurate traffic congestion readings and localized weather reports.
The trial is currently undergoing at Jaguar’s software engineering center in Shannon, Ireland, which has already integrated the technology to several well-known vehicles, including the Jaguar F-PACE and Range Rover Velar.
This isn’t Jaguar Land Rover’s first foray into cryptocurrency – back in 2017, Jaguar Land Rover-backed blockchain startup DOVU was also planning to launch a similar blockchain platform that would reward users for sharing data, similar to what’s being pursued with IOTA.
What do you think? We’ve got Nike coming into the cryptocurrency world – travel agencies as well as huge market trading platforms are also claiming their spot for cryptocurrency. Where are you going to be? What do you think? Let us know on our Facebook page!
