As it was reported, Jaguar Land Rover, one of the world’s leading carmakers, has jumped onto a digital coins bandwagon. Currently, the company is putting the crypto wallet installed into its cars
to the test. To elaborate on this, the Jaguar Land Rover drivers will be rewarded with IOTA coins in exchange for the information they will provide. The data the company is interested in is related to traffic jams, road issues as well as the performance of its cars in certain areas.
This way, Jaguar Land Rover tries to tackle multiple road issues. Firstly, it seeks to beef up the operation of its vehicles, and thus improve the safety of its cars and minimize the incidences of road accidents.
Secondly, the automobile producer is strongly committed to eliminating carbon dioxide emissions and congestion on the roads. To this end, it utilizes cryptocurrency to incentivize the drivers to take part in carpooling. In other words, participation in shared rides programs entitles motorists to IOTA coins rewards.
Currently, the British automobile manufacturer has incorporated the crypto software into the Range Rover Velar and F-Pace cars, among some others. Though, it is not yet stated when this latest product will be rolled out.
IOTA coins
IOTA is crypto meant for IoT. And these are the shared public ledger tools that constitute the backbone of IOTA coins.
What makes it stand out from the rest of cryptocurrencies, including Bitcoin, is the fact that with IOTA, conventional crypto flaws go out the window. Specifically, people can send and receive coins and information without paying fees. Furthermore, scalability is no longer the issue as far as IOTA is concerned.
The co-founder of the IOTA foundation, Dominik Shiener, stated: ‘IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy’.
As of November 7, IOTA is trading at $0.28.
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