IOTA Cryptocurrency & IOTA Tangle Simply Explained (MIOTA)
British company Jaguar Land Rover is working with the IOTA Foundation to develop technology that will incentivize drivers to earn cryptocurrency while driving.
The new system automatically credits IOTA Coins for transmitting useful data on road conditions such as traffic jams or potholes. The payments are a reward for helping drivers to combat environmental pollution due to idling vehicles and unnecessary travel when taking a detour.
The cryptocurrency goes to the built-in smart wallet. The money earned can be spent on buying coffee on the road, paying for travel, parking or connecting to a charging station. No transaction fees will be charged and payment processing technologies will be improved.
The information is sent to navigation service providers or local authorities, so the owner of the car must give prior authorization to share data in real time in order to activate the payout function. The automaker is already testing the technology in Shannon, Ireland.
In the future, Jaguar Land Rover plans to integrate this system into self-driving vehicles. This will allow vehicles to pay for charging and other travel costs on their own, and owners will be able to control their participation in the sharing economy..
Jaguar is actively introducing progressive digital technologies into their products. We recently reported that the company also tests a system that will help the driver move around the city with less delays, avoid traffic jams, red traffic lights and has a number of other innovative features.
text: Ivan Malichenko, photo: carsweek, icdn-5.motor1
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