Cryptocurrency is starting to get its long awaited global exposure. Digital currency is undoubtedly the money for the future and the future seems to be closer than usually expected. IOTA (MIOTA) Jaguar recent partnership is an added advantage to crypto sphere entirely.
The partnership itemized four innovative takeaways for users of Jaguar Land Rover, British largest auto manufacturer.
Earn Cryptocurrency with Smart Wallet technology as you drive
With innovative Smart Wallet technology, drivers of Jaguar Land Rover can now earn cryptocurrency and make payments as they drive.
This is purposely invented to make life easy and interesting for the users of the automobile product. IOTA Foundation’s director of partnerships, Holger Köther, expressed his excitement in partnering with such a reputable Auto Company.
Köther said: “Our distributed ledger technology is perfectly suited to enable machine-to-machine payments for smart charging, parking and tolls, in addition to creating opportunities for drivers to earn their own digital currency. We are excited to partner with Jaguar Land Rover in implementing its IOTA-powered car wallet, delivering a major convenience benefit for their customers worldwide.”
Earn Credits as You Share Traffic Jams and Potholes Information
Using ‘Smart Wallet’ technology, there are allocated credits to be earned as drivers of Jaguar Land Rovers share information about traffic jams and potholes information on their way, which can be used to spontaneously pay for parking, electric vehicles charging and tolls.
The partnership between Jaguar Land Rover and IOTA Foundation has enabled the automobile manufacturer to use the trending cryptocurrency technology to equip ‘distributed ledger’ technologies purposely to make and receive the payments in quick succession without paying for the transaction.
The Jaguar Land Rover Software Architect, Russell Vickers said “The connected car technologies we are developing will be transformative and truly turn your Jaguar or Land Rover into a third space, in addition to your home or office. In the future an autonomous car could drive itself to a charging station, recharge and pay, while its owner could choose to participate in the sharing economy — earning rewards from sharing useful data such as warning other cars of traffic jams.”
Smart Wallet Technology Enhances Jaguar Land Rover’s Innovative Missions
The new Smart Wallet technology aims at accomplishing Jaguar Land Rover’s destination mission. The British Automobile company researches to achieve a congestion free, accidents free and emissions free driving environment, which can be possible by giving its product users means of earning rewards in cryptocurrency [IOTA (MIOTA)] with Smart Wallet when they share live traffic updates. This will drastically reduce road congestion by giving drivers alternative routes which reduces tailpipe emissions from the traffic jam.
Experts at the new Jaguar Land Rover software engineering centre are developing new Technologies
The new Jaguar Land Rover software facility in Shannon, Republic of Ireland, houses engineering experts that are developing technologies with ‘Smart Wallet’ functionality to aid electrification and advanced driver assistance systems features (self-driving) of Jaguar and Land Rover automobiles with the support of Irish Development Agency.
Jaguar Land Rover’s Executive Director of Product Engineering, Nick Rogers said “…Working with our engineering hub in the UK, the team in Shannon are pioneering and testing these sophisticated connected technologies that will help people to make the most of the time they spend in their car. Jaguar Land Rover is embracing autonomous, connected, electrified and shared mobility technology as we endeavour to make cars safer, cleaner and smarter for everybody.”