The automaker is currently in its test phase of utilizing blockchain technology to potentially allow drivers to enable their vehicles to automatically report road and freeway data, such as heavy traffic and dangerous road conditions, to GPS navigation providers, first-responders, and traffic control rooms. In return, those that opt into this program will be able to receive IOTA tokens. The initiative began with a partnership with non-profit IOTA Foundation and Jaguar Automobile, the company announced Monday.
Using smart wallets, such as the Nano Ledger, the cryptocurrency earnings can then be used to purchase goods like coffee or juice–or even pay tolls, parking fees, and virtually anything from a vendor that would accept IOTA.
Russell Vickers, a Senior Software Engineer at Jaguar commented:
“In the future an autonomous car could drive itself to a charging station, recharge and pay, while its owner could choose to participate in the sharing economy – earning rewards from sharing useful data such as warning other cars of traffic jams.”
Jaguar Motors claimed that its vehicles can be easily outfitted with IoT sensors which would then be used to send anonymized data to IOTA’s “Tangle” distributed ledger, with valuable data and messages. This data would then be transmitted to the appropriate recipients, whether it be an NGO conducting environmental studies, or the authorities in case of an accident detection. For instance, vehicles may “talk” to eachother using these IoT devices and determine if an there was an accident that needs to be reported. As IoT and edge computing technology grows rapidly, there is no doubt that blockchains will be heavily involved in its growth. The two technology go hand-in-hand and are poised to be the next revolutionary technology to change the scope of human-computer interaction in the world.
The pilot is currently underway at the automaker’s engineering and R&D facility in Shannon, Ireland. However, this is not Jaguar’s first attempt at launching a blockchain-powered rewards system for sharing metadata while driving. Back in 2017, Jaguar Land Rover-backed blockchain startup DOVU planned to launch a similar system to reward customers, but it is unclear as to what happened with that program.
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