The leading car manufacturer in Britain, Jaguar Land Rover, has partnered with IOTA to reward users for sharing crucial information such as traffic status when driving. The partnership is another ray of adoption shone on cryptocurrencies.
To facilitate the reward system, the auto manufacturer will use a smart wallet. However, drivers can either activate or deactivate the option of sharing information to earn IOTA coins. Some of the information to be shared includes broadcasting the presence of potholes and traffic level, with relevant authorities.
IOTA tokens earned for such actions can be used to pay for parking and toll fees. They can also be used for offsetting charging costs for the electric models. More than sharing traffic-related information, IOTA coins can be earned by sharing a ride.
The partnership is aimed at achieving “zero emissions, zero accidents, and zero congestion,” said Jaguar Land Rover. Zero emissions will be achieved in the sense that by sharing the traffic conditions, other drivers will make an informed decision thus reduce the idling time.
The installation of the smart wallet is already being tested on Jaguar and Range Rover models such as F-Pace and Velar respectively. While the feature is at its testing phase, the automobile manufactures did not provide a testing timeline to signal the entry of commercial usage.
While speaking to Reuters, Dominik Schiener, co-founder, IOTA, noted that the smart wallet could easily be “adapted into all new vehicles. IOTA wants to enable interoperability will all these different players. So there is no Jaguar Coin, no BMW coin, but one universal token for this machine economy.”
On Twitter, a discussion about the partnership is already brewing with the likes of Anthony Pompliano, co-founder & partner, Morgan Creek Digital, exuding confidence about the future of crypto adoption.
Unfortunately, this was not the case for others like Elizabeth Stark who has affiliations with the Lightning Network. For Stark, “the virus of critical vulnerabilities is spreading.” Other Twitter users commenting on the development portrayed caution while indicating that the smart wallet should not be linked to any “critical systems.”