Jaguar Land Rover is reportedly planning to use blockchain technology and reward drivers with cryptocurrency for sharing their data.
According to a report by coindesk.com, the automaker is partnering with IOTA Foundation to reward drivers with IOTA tokens in exchange for reports to navigation providers or local authorities on road condition data such as traffic congestion.
Drivers can redeem their cryptocurrency earnings to buy coffee, or to pay tolls, parking fees and electric charging on the move, and could also be topped up using conventional payment methods.
According to Jaguar, it will be equipping its cars with internet of things (IoT) sensors and provide data through IOTA’s “Tangle” distributed ledger, including messages.
The data would then be transmitted to the authorities and report instances such as car accidents.
Tests led by software engineers in Shannon, Ireland have already been integrated to several vehicles including Jaguar F-Pace and Range Rover Velar.
(Photo source: mashable.com)