The UK based major automobile manufacturing giant, Jaguar is now working on a project for testing its smart wallet technology to reward users, especially car drivers for reporting potholes on the roads. The company has collaborated with the IOTA to encourage people to share important feedback about the road conditions that may cause car owners dismay.
Based on the partnership with IOTA, Jaguar is meant to serve drivers with the information they share with the system. Jaguar is also working to smooth out the process for drivers by installing its smart wallets into its vehicles for safe storage of token, in order to help those who are not familiar with cryptocurrency.
With this partnership, the company is looking forward to its destination zero strategies that aim to reach zero accidents, zero carbon emission and zero congestion. Users sharing data with other drivers will alert them about the current traffic conditions and offers then alternative routes in turns saving fuel cost and emissions. Meanwhile, for sharing the information, the users will be awarded the credits in cryptocurrency which can be redeemed to pay tolls, parking, charging points for electric vehicles etc.
According to the co-founder and co-chairman of IOTA Dominik Schiener, the company is seeking to spread its operation with other automobile company in the market. He believes:
“The smart wallet technology can be easily adapted into all new vehicles; IOTA wants to enable interoperability with all these different players. So there is no jaguar coin, no BMW COIN but a single universal coin for this machine economy. “
However when will the company will completely implement it in their system is unknown, yet the incentives are assumed as a good way to promote the use of cryptocurrency, which is waiting for expansion in the near future. This is also the first time the asset and cryptocurrency industry is stepping into the automobile industry, with the appreciating move by IOTA foundation. With such collaboration, we accept cryptocurrency to soon reach into mainstream adoption while offering real use cases.