Jaguar Land Rover to reward drivers with IOTA tokens
Jaguar Land Rover has announced a new pilot scheme they are testing which will "reward" drivers with IOTA tokens in return for sharing data. Data such as traffic congestion and accidents will be reported to navigation providers and local authorities, with drivers being given IOTA tokens in return.
The scheme has further incentives by rewarding cars that participate in a ride-sharing program and may be able to use the tokens to pay for toll charges and to charge an electric vehicle.
Jaguar has already started testing the "smart wallet" in their F-PACE model, and Land Rover in their highly coveted "Velar". However, there is no timespan for when this could become a commercial norm. With the long-term aim to have "zero emissions, zero accidents, and zero congestion", this form of blockchain adoption could well become an integral part of "smart cities" of the future.
One of IOTA's key aims is to create interoperability within various brands, ensuring the token is compatible with various car manufacturers. Should this pilot scheme be a success, it is likely that similar technology will be adopted going forward to help increase safety and efficiency on the roads.
On announcement of the news, IOTA's price was up 15% this morning, well ahead of the majority of the market, settling around $0.32.
Velar interior image licensed via Shutterstock
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