Jaguar Land Rover Leverages Crypto technology for Connected Cars, Partners with IOTA

Jaguar Land Rover, Britain’s largest car manufacturer, announced their partnership with IOTA foundation for their distributed ledger technology to make and receive payments with their Smart Wallet.

Jaguar Land Rover's software engineering base in Shannon, Republic of Ireland, testing advanced connected technologies and equipped many vehicles with Smart Wallet technology. Jaguar Land Rover's research is targetted towards its Destination Zero strategy which aims to achieve zero emissions, zero accidents, and zero congestion.

Executive Opinion

Executive Director of Product Engineering, Jaguar Land Rover,Nick Rogers, said: “Our Shannon software development centre is advancing the use of cryptocurrency to make people’s lives better, by allowing drivers to safely share data and make payments from their vehicle. Working with our engineering hub in the UK, the team in Shannon are pioneering and testing these sophisticated connected technologies that will help people to make the most of the time they spend in their car. Jaguar Land Rover is embracing autonomous, connected, electrified and shared mobility technology as we endeavour to make cars safer, cleaner and smarter for everybody.”

Holger Köther, director of partnerships, IOTA Foundation, said: “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."

How Land Rover plans to leverage MIOTA technology?

Equipped 'smart wallet' technology, connected car services will report automatically report useful road condition data such as traffic congestion or potholes to navigation providers or local authorities. This will help car owner earn credits in terms of cryptocurrency which can be redeemed at coffee, road tolls, parking fees and for smart charging electric vehicles.

The announcement said that 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.

This is the big win for IOTA towards their vision to enable all connected devices through verification of truth and transactional settlements.