Shannon, Ireland, April 29, 2019 — Jaguar Land Rover announces plans to let drivers earn cryptocurrency in their cars and making it possible to use that money to make payments for toll booths and the likes.
Mining for Jaguar or selling personal data?
Wouldn’t it be great to earn some money while driving around in your car? I bet that kind of feature would make some kind of impact and disrupt the automotive industry at least a little. Maybe it would even have an impact on the FinTech world.
Jaguar is planning a concept together with IOTA Foundation to allow their drivers to earn cryptocurrency and making payments on the move using their “Smart Wallet” technology. It’s not quite certain to what degree this would be about crypto mining and where it would involve selling individual data but it could serve as a welcome incentive to some.
We covered the basics of cryptocurrency before but it is rare to meet a major company investing in the mining process of it all. But does it make sense? Every currency needs a counter-value after all.
Comments from Jaguar Land Rover and IOTA
In the official statement, as published earlier today, we were able to get some insights from Nick Rogers, Executive Director of Product Engineering at Jaguar Land Rover. He states, “Our Shannon software development center is advancing the use of cryptocurrency to make people’s lives better, by allowing drivers to safely share data and make payments from their vehicle. 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 endeavor to make cars safer, cleaner and smarter for everybody.”
His counterpart on this project, Holger Köther, Director of Partnerships at the IOTA Foundation comments, “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.”
Would you be interested in such a solution? We’d love to hear your opinion below in the comments.
YouTube: Jaguar | Earn As You Drive with ‘Smart Wallet’ Technology
Photo credit: The feature image is owned by Jaguar.
Source: Jaguar press release