Jaguar Land Rover Plans to Give Drivers Crypto in Return for Their Data

Jaguar Land Rover is trialing tech that may soon let drivers earn rewards in the IOTA cryptocurrency for sharing data on road conditions.

AccessTimeIconApr 29, 2019 at 9:00 a.m. UTC
Updated Aug 18, 2021 at 11:15 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Jaguar Land Rover may soon let drivers earn rewards in cryptocurrency for sharing their data.

The automaker is currently trialing blockchain technology allowing users to enable their cars to automatically report road condition data, such as traffic congestion, to navigation providers or local authorities and, in turn, receive IOTA tokens. The initiative comes via a partnership with the non-profit IOTA Foundation, Jaguar Land Rover said Monday.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Using “smart wallet” technology, the cryptocurrency earnings can then be redeemed to buy coffee or to pay tolls, parking fees and electric charging on the move, the company said. Wallets can also be topped up using conventional payment methods.

    Jaguar said that its cars would be equipped with internet of things (IoT) sensors to provide data via IOTA's "Tangle" distributed ledger, including messages. This would then be transmitted to the appropriate city authorities. For instance, cars could communicate if a tree was blocking a road or a car accident had occurred, as well as providing more accurate localized weather reports.

    jlr

    The pilot is being conducted by the auto giant’s software engineering center in Shannon, Ireland, which has already integrated the technology to several vehicles, including the Jaguar F-PACE and Range Rover Velar.

    Software architect Russell Vickers 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.”

    Back in 2017, Jaguar Land Rover-backed blockchain startup DOVU was also planning to launch a blockchain platform to reward users for sharing mobility data such as location, distance traveled and weather conditions.

    Jaguar image via Shutterstock; smart wallet screen image via the company 

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.