IOTA News: Jaguar is testing bonus payments in IOTA for drivers

Home News IOTA News: Jaguar is testing bonus payments in IOTA for drivers

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Marcel Knobloch –
29.04.2019

IOTA is considered to be crypto currency of the machines and means of payment in the Internet of things. One of the largest car manufacturers worldwide, is currently testing a program in which the systems of cars are with a smart Wallet of IOTA connected, and thus a variety of possibilities for car owners opened.

Reuters reported yesterday that Jaguar Land Rover is currently testing a IOTA Wallet, which rewards the owner of the vehicle for the exchange of travel data with MIOTA and for the payment of “tolls, Parking fees and fees of electric cars” can be used. IOTA is a distributed Ledger that, in contrast to Bitcoin, not the Blockchain technology, but a directed acyclic Grapen used to achieve a high level of scalability and Transaction throughput. Many companies in the free economic test, the IOTA Tangle is currently in various fields.

The IOTA-Wallet will be piloted at the site in Shannon (Ireland) in the Jaguar F-PACE and the Range Rover Velar. Up to the present time, the company has announced no official date for the practical use. The price of IOTA has increased within the last 24 hours, with more than 14% to 0.276€. However, IOTA is located far from the former all-time high, as is visible here that positive messages can still have an impact on the price of crypto-currencies. This correlation was pronounced in the bull market by the end of 2017 more.

Dominik Schiener, co-founder of IOTA, explained to Reuters that the Wallet can be in each vehicle to integrate (freely translated):

The Smart Wallet technology … can easily be integrated into all new vehicles. IOTA would like to enable interoperability with all of these different actors. So, there’s no Jaguar-Coin, no BMW-Coin, but a universal sign for this machine economy.

IOTA is already working with companies like Bosch, Volkswagen, or BMW, the opportunities and the potential of the technology to the test in practice. In this case, the use is not limited to the automotive industry, but also companies from the energy sector or, for example, the UNOPS pilot project.

Featured Image: Wit Olszweski | Shutterstock