Jaguar Joins Forces With IOTA For Driver-Rewarding Crypto Wallet

Britain’s largest car maker, Jaguar Land Rover, announced the tests of new software, allowing drivers to earn IOTA tokens as they drive their vehicles.

Jaguar is developing a “smart wallet” software which will enable drivers to get rewards in IOTA tokens for sharing road data, such as potholes and traffic jams to officials and third-parties. Users will also get rewards for charging their electric vehicles. Тhe rewarded IOTA tokens can be exchanged for consumables or for paying road taxes, parking fees. “Drivers will never have to worry about having change in their pockets to pay their fees, or to manage a wide variety of accounts for everyday service payments.”

At first, the new software will be implemented in Jaguar’s bestsellers – the F-PACE and the Land Rover Velar. Jaguar joins the list of global car manufacturers entering the blockchain space after Mercedes announced Blockchain implementation in their supply chain.

IOTA’s plans are not just to partner with Jaguar, but to create a whole ecosystem form machine economy, which will operate via Blockchain and the IOTA token. Dominik Schiener, IOTA’s co-founder, stated that “Jaguar, Mercedes, BMW, Volkswagen, and others can communicate with officials and service providers with a universal token for eliminating the inconvenience while being environmentally friendly.

IOTA token is a blockchain project designed for data and money transfers without fees and costs. As of press time IOTA is trading at $0,2983. Shortly after the news that Jaguar and IOTA will partner to bring blockchain on the road, trading volumes soared up from $14 million to little over $95 million in just 24 hours. The price of the token also increased – from 0,26$ on April 29th to a high of $0,32 on April 30th.