Jaguar Land Rover, one of the world’s top notched automotive companies,plans to install “smart wallet” technology in its vehicles, Reuters reported on Monday. The company’s new development will pave the way for its car’s drivers to get cryptocurrency as a reward for sharing data.
The new technology is undergoing testing at the new Jaguar Land Rover software engineering base in Shannon, Ireland and doesn’t have a proper timetable for its commercial rollout, the company said. Engineers have already started equipping the new feature in several cars such as Range Rover Velar and Jaguar F-PACE.
Drivers can rip the benefits of the Smart wallet by carrying out actions such as permitting their cars to report useful data automatically. The data could be based on traffic congestion or potholes to local authorities or navigation providers.
The company also stated that drivers would be eligible to earn the rewards if their vehicles take part in a ride-sharing program. There are lot of benefits for using the tokens as it could be useful to pay or parking, tolls, and charging EVs.
The main aim of the new initiative was to maintain zero accidents, zero congestion and zero pollution, the company said.
People familiar with the matter told Reuters on Friday that the new software can be adapted by all the new vehicles. IOTA seeks to enable interoperability with all the big car makers. So there is nothing called BMW coin, Jaguar coin, but a single token for this machine economy.