Who shares data, is rewarded with the crypto currency IOTA, which can be used, among other things for the payment of charging or parking fees.

The British car manufacturer Jaguar Land Rover wants to reward its drivers in the future with crypto-currency if they share data on the traffic situation or provide their vehicle for ride-sharing. This is reported by the news agency Reuters. According to this, Jaguar Land Rover is developing a corresponding solution with the IOTA Foundation, which is developing the eponymous cryptocurrency. This is due to their high transaction speed specifically to Internet of Things applications.

The cryptocurrency should help achieve the goal of “zero emissions, zero accidents and zero delays,” said the automaker. Each vehicle will be equipped with a “smart wallet” on which the cryptocurrency is paid, for example, when you report potholes or slowly flowing traffic. This money could also be used to pay toll, parking and charging fees.

IOTA wants to become industry standard

According to Jaguar Land Rover, some vehicles have already been equipped with this technology for testing purposes and are testing their suitability for everyday use. A time frame, however, when the technology could find application in production vehicles, was not called. However, they are confident and emphasize in an announcement that by 2025 75 billion devices will be connected to the IOTA network – including many cars.

As IOTA founder Dominik Schiener points out, the token is cross-platform and can therefore be used by any company. Jaguar and Land Rover drivers could therefore also send cryptocurrency to BMW drivers, if they would offer similar functions based on the IOTA network in the future.

image by Shutterstock

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