Jaguar Land Rover Owners Will Soon Be Able to Earn IOTA Cryptocurrency for Sharing Data
Blockchain technology has quickly expanded to use cases around the world, and there are many car companies that have implemented some version of this ledger to learn more about customers. Companies with smart driving vehicles have used it to track their movements, among other use cases. Now, Jaguar is getting involved, adding blockchain software to Land Rovers.
The use of blockchain technology will allow consumers to earn IOTA cryptocurrency, though the client will need to share their data to reap the reward, according to a report from the New York Times. The vehicles will automatically report the data, which includes information about traffic congestion, potholes, and other details to the local authorities. The information will also be reported to navigation providers.
If the car is involved with ride-sharing programs, then the drivers will also receive rewards for that participation. With the new tokens earned, clients are able to pay tolls, parking, and charging for electric cars. Ultimately, the company hopes to get to a point where there’s no congestion, no accidents, and no emissions, as extreme as those aspirations may be.
The technology is being tested out in Shannon, Ireland at the software engineering base for Land Rover. There are already a few vehicles that have integrated the “smart wallet” features, which includes the Jaguar F-PACE and Range Rover Velar.
So far, the availability of the blockchain-based software-enabled vehicles has no timeline, according to Jaguar. IOTA’s co-founder and co-chairman, Dominik Schiener, said that the technology being used in this case is “easily adapted” for other vehicles as well. Schiener added that there is no coin for a specific vehicle manufacturer, because they want to establish “one universal token for this machine economy.”
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