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Drivers will soon be able to earn credits with Jaguar’s Smart Wallet technology

By CRM staff

Toronto, Ontario – April 29, 2019 –  Jaguar Land Rover drivers will soon be able to earn cryptocurrency and make payments on the move using its new connected car services.

The new Smart Wallet technology is currently being tested at the OEMs new software facility in Ireland on several models including Jaguar F-PACE and Range Rover Velar Drivers.

Drivers will be able to earn credits using Smart Wallet technology by enabling their cars to automatically report on the conditions of the roads the cars drive on. The credits can be used to pay tolls, parking fees or pay for the charging of their electric vehicles. For instance, the car will be able to automatically collect data on traffic congestion or potholes and send it to navigation providers or local authorities.  In return, the driver will receive a credit. 

Jaguar Land Rover has partnered with IOATA Foundation to harness ‘distributed ledger technologies to make and receive these payments which means there will be no activation or transaction fee. 

“Our distributed ledger technology is perfectly suited to enable machine-to-machine payments for smart charging, parking, and tolls, in addition to creating opportunities for drivers to earn their own digital currency. We are excited to partner with Jaguar Land Rover in implementing its IOTA-powered car wallet, delivering a major convenience benefit for their customers worldwide,” said director of partnerships for the IOTA Foundation Holger Köther.

The whole objective of this new car service is to achieve its destination zero vision: “zero emissions, zero accidents, and zero congestion.” The connected ‘Smart Wallet’ services will promote a reduction in congestion with the sharing of live traffic updates and offering alternative routes to drivers, reducing tailpipe emissions from idling in traffic.

“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,” said Jaguar Land Rover Software Architect Russell Vickers.

 

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