IOTA and Jaguar working together to reward drivers in IOTA token

British carmaker Jaguar and Landrover are testing new software with IOTA to reward vehicle owners in cryptocurrency to share data, reports Reuters.

According to Jaguar, their overall goal is to “achieve zero emissions, zero accidents, and zero congestion”. The company plans to use IOTA blockchain and tokens to reward users that take actions which furthers this goal.

Jaguar is developing a special kind of wallet called “Smart wallet” which will automatically be installed on Jaguar and landrover cars. Vehicle owners will get IOTA tokens rewarded on their “Smart wallet”, for performing a specific action such as automatically sending Driving related data.

Drivers can also earn IOTA tokens by participating in eco-friendly and community building exercises such as ridesharing. The tokens can be used to pay for parking, toll booths, and as a payment for electric vehicle recharge.

The car company is testing the technology out at the new Jaguar Land Rover software engineering base in Shannon, Ireland. Several vehicles, including the Jaguar F-PACE and Range Rover Velar, have been equipped with the “smart wallet” features, the company reports.

There is no timetable as to when it will be commercially available. Jaguar Landrover is a wholly owned subsidiary of India’s largest auto manufacturer, Tata Motors.

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