British automotive company Jaguar Land Rover has picked up the cryptocurrency fever. The company has teamed up with the IOTA Foundation for the initiative, which will focus on the cryptocurrency.
Jaguar Land Rover has started testing the technology of smart contracts that will encourage drivers to earn cryptocurrency while driving. It sounds like a dream come true. Drivers earn crypto-rewards in exchange for information about “traffic, i.e. traffic congestion, traffic, or potholes”. That is, if you don’t mind to provide information in real time when you are on the road, this information is sent to the “providers of navigation or local authorities”. This is the price for which drivers receive compensation in order to reduce carbon dioxide emissions that would have arisen as a result of work vehicles idling when stuck in traffic.
These rewards can be spent starting from the acquisition of coffee on the way to fare, to pay for the cost of Parking and even connecting to the nearest electric charging station. The automaker is currently experiencing the software in Shannon, Ireland. Without a doubt, Elon Musk (Elon Musk) drew attention to it, especially considering that Jaguar Land Rover is taking steps in the development of electric vehicles.
The cryptocurrency community has begun to react rapidly to news about the development.
Others were more cautious, including Elizabeth stark (Elizabeth Stark) Lightning Network.
Distributed technology is IOTA with the smart wallet “to carry out and receive payments”. In this style of cryptocurrency there are no fees for transactions and, as suggested by the technology, payments will accelerate.
Software developer Jaguar Land Rover, Russell Vickers (Vickers Russell) said:
In the future, Autonomous vehicle will be able to drive to a charging point to recharge and pay, and the owner may choose participation in the economy of sharing – earning rewards from the sharing of useful information, such as warning other vehicles about traffic jams.
Closer Holger (Holger Köther) with IOTA Foundation said:
Our blockchain technology is ideal for implementation of smart payments for Parking and fees, as well as to create opportunities for drivers to earn their own digital currency.
IOTA is known for its extensive technology developed for the Internet of things (IoT). Technology open-source, that is open source, specializiruetsya on machine learning technology for data transfer and micropayments, all functions, which will offer new Jaguar Land Rover. The proposal was supported in Germany IOTA Foundation.
IOTA is a 15 rating among cryptocurrency cryptocurrency by market capitalization, after the announcement of cooperation with Jaguar Land Rover rose nearly 12%. This is good news not only for investors IOTA, but for the cryptocurrency space as a whole. This suggests that the coins begin to bargain for their own improvements, and not just because of the vagaries of bitcoin.