Jaguar Land Rover Offers Crypto Rewards in IOTA
Litecoin’s Charlie Lee said not too long ago that mainstream crypto adoption will be driven be more real-world use cases for cryptos.
These seem to be popping up with each passing day, and more moves in the industry are leading the digital assets towards mass adoption, without a doubt.
Jaguar Land Rover launches a crypto initiative
British car manufacturer Jaguar Land Rover launched a crypto initiative, and in exchange for customer data, drivers will be able to gain IOTA via a smart wallet.
This collaboration will allow drivers to earn crypto while they are on the road. They will reportedly earn credits for automatically sharing info about traffic jams and potholes.
They will also enjoy the ability to spend IOTA automatically in order to pay for tolls, parking, and electric charging.
Drivers will also be able to use their rewards to buy food on the go.
“‘Smart Wallet’ removes the need for drivers to hunt for loose change or sign up to multiple accounts to pay for a variety of daily services,” according to the official notes.
The continue and detail that “‘Smart Wallet’ uses the latest cryptocurrency technology and Jaguar Land Rover has partnered with the IOTA Foundation to harness ‘distributed ledger’ technologies to make and receive these payments.”
The Smart Wallet needs no transaction fees and more than that, over time, transactions will become much faster.
What does the future look like?
Jaguar Land Rover software architect Russello Vickers said that the connected car tech they are currently working on would transform everything and they will be able to turn people’s Jaguar or Land Rover into a third space.
He called this an addition to your home or office.
He said that in the future, an autonomous car could drive itself to a charging station, recharge, and pay.
Meanwhile, the owner of the car will be able to earn rewards from sharing data such as warning of car jams and more.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.