Drivers will soon be able to earn rewards in cryptocurrency in exchange for sharing their data. Rewards in cryptocurrency in exchange for valuable driver data by Jaguar Land Rover.
The company conducts trials with blockchain technology currently. In these trials, users receive IOTA tokens when they allow the enabling of their cars to automatically report road condition data, such as traffic congestion, to navigation providers or local authorities. Jaguar Land Rover said last Monday, that a partnership with the non-profit IOTA Foundation has been the impetus for the initiative.
The company said that once they receive cryptocurrency earnings, they can redeem to purchase various products. Such as coffee, pay tolls, parking fees and electric charging on the move. Conventional payment methods can also top up wallets.
Internet of things (IoT) sensors will equip in Jaguar Land Rover vehicles. Through these sensors, data, including messages will provide through IOTA’s “Tangle” distributed ledger, and then transmitted to the appropriate city authorities. If a tree was blocking a road; or if an accident had occurred.
Rewards in cryptocurrency in exchange for valuable driver data by Jaguar Land Rover. The company’s software engineering center in Shannon, Ireland, is where the pilot is conducted. The auto giant has already integrated the technology to several vehicles, including the Jaguar F-PACE and Range Rover Velar.
Russell Vickers, the software architect said:
“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.”
To launch a blockchain platform to reward users for sharing mobility data such as location, distance traveled and weather conditions also the goal of DOVU in 2017. DOVU is a blockchain startup by Jaguar Land Rover.