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Jaguar Land Rover Plan to Reward Drivers with IOTA, IOTA Price Heads North

Per a recent Reuters report, Jaguar Land Rover is readily grabbing headlines, for it plans to allow drivers of cars to earn IOTA for sharing data. For the same, the giant is working with the  IOTA Foundation to develop the smart wallet technology. The technology will help award drivers for reprting useful data, traffic congestion and potholes to authorities.

The report further mention that drivers can also earn IOTA if the car is a part of the ride sharing program. The tokens earned by drivers can hence be used for paying tolls, charging cars and parking charges. 

Dominik Schiener, IOTA co-founder and co-chairman of its board, told Reuters:

"The smart wallet technology ... can be easily adapted into all new vehicles. IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy."

JLR further mentions that the goal is to achieve zero accidents, zero emissions and zero congestion. Presently, the software is being tested at the  company's software development center in Shannon, Ireland. However, no date for the commercial release has yet been announced. 

Per data by Autocar

"JLR predicts that 75 billion devices will be connected to IOTA’s network by 2025 and that transactions will become faster because of the absence of processing fees."JLR drivers "will also be able to top up their virtual wallet by more conventional means."

Following the news, IOTA price has surged 15.21 % in a period of 24-hours, as per data provided by CoinMarketFeed. 

In another news reported by CoinMarketFeed, a  project at the University of Nevada is recently garnering headlines for developing a new blockchain-powered vehicle project. The project is named The Intelligent Mobility project. It is being coordinated by the University of Nevada, Reno and the Nevada Center of Applied Research (NCAR). The universities have chosen enterprise blockchain and Internet of Things (IoT) firm Filament to develop an autonomous vehicle smart city project.

Also, recently  Chinese City Guangzhao has issued a blockchain license using blockchain and AI. The license has been reportedly issued at the administrative center of Huangpu District. Further, this is the first business license issued using blockchain and AI in China. 

Huangpu District piloted its commercial service blockchain platform and it has reduced the bid submission time and has also helped avoid double submissions. 

The license purportedly allows startups to file an application, and simultaneously open a bank account. In addition, to submitting a tax invoice application using a WeChat mini-program.

Image Credit: Pixabay