Jaguar Land Rover (JLR) is seeking to reward its car owners with cryptocurrency. The manufacturer plans to reward drivers whenever they share information. This info will include congestion, bad roads, and road accidents. The crypto can then be used to pay for toll booths, parking and filling stations. This initiative will not only drive car buyers to Jaguar but also grow crypto adoption.
Car Manufacturer To Push For Crypto Adoption
Jaguar has set up a team to tap into the distributed ledger technology. Working under Jaguar’s Destination Zero project, the team hopes to achieve something that no other car manufacturer has. Reward car owners/drivers for sharing information about the roads they are using. This is expected to be possible with cryptocurrencies like IOTA.
“Of course, there’s a little bit of a reward for detecting these potholes. Using cryptocurrency like IOTA, we’re able to pass this reward directly onto our customers.”
Jaguar vehicles will be able to detect and report on their surroundings. For example, if the vehicle hits a pothole, it will collect this info and report it to local councils. For this, the owner will be rewarded with some cryptocurrency. And it gets better, the distributed ledger will also be capable of using the same cryptocurrency to pay for parking or tolls.
This initiative, Aaron Hetherington, a software developer on the distributed ledger technology team, says it is set to make roads safer and driving environment-friendly. The car manufacturer hopes that this way, they can achieve, “zero accidents, zero congestion, and zero emissions”.
The Race: Jaguar Vs Volks Wagen
Of course, Jaguar is not the first car manufacturer to invest in blockchain technology. Germany’s Volk Wagen has been making headway. The company has a dedicated blockchain team looking into the technology. IOTA announced in 2018 a partnership deal with this team.
This would see IOTA and VW collaborate in real-world integration of VW vehicles to IOTA to ensure vehicle efficiency. The vehicles would be capable of collecting info and securely updating it, this info would be analyzed and used to enhance efficiency in driving and servicing. The project remains in development.
It is now looking like it’s becoming a race. One that has to be worn on two fronts. One, which manufacturer will launch the first vehicle that is integrated into a blockchain. And two, which does it best to ensure the highest efficiency and customer satisfaction.
For the crypto market, this means crypto adoption, especially for IOTA holders. The project is designed for integration with machines and both Jaguar and VW are likely to look to it and its native token in their endeavors.