Jaguar Land Rover, one of the biggest British luxury car manufacturer, has announced they are testing a Smart Wallet which will allow drivers to earn crypto and make payments on the move.
“The connected car technologies we are developing will be transformative and truly turn your Jaguar or Land Rover into a third space, in addition to your home or office,” Russell Vickers, Software Architect at Jaguar Land Rover, said before adding:
“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.”
They’re using the IOTA distributed ledger to reward drivers for sharing information like whether there’s a pothole on the street or whether there’s been a car accident.
Sensors can automatically gather this information, with drivers then usually able to opt-in on whether they want to share the information with their car manufacturer.
As reward, in this case Jaguar is testing giving them some crypto. They can then use these rewards to pay electric charging stations, toll booths, or they can withdraw them and convert them into fiat. Drivers will be able to top up the Smart Wallet in traditional ways too.
“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,” Nick Rogers, Executive Director of Product Engineering at Jaguar Land Rover, said before adding:
“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.”
The combination of a number of technologies is now reaching the stage where crypto usage is utilized in production.
The improvement of Wi-Fi ranges, the very new sensors technology, GPS, and then the blockchain, can allow for the connection of numerous machines to facilitate automatic payments.
As far back as 2017, for example, the German energy giant Innogy launched hundreds of ethereum based electric car-charging stations.
Something like a Jaguar Smart Wallet could then digitally connect to these charging stations with the payment made automatically.
In addition, Hewlett Packard Enterprise and Continental have announced a new blockchain based platform for data sharing.
The information Jaguar is gathering from drivers, for example, can be shared with other car manufacturers so that an Audi driver also knows there’s a traffic jam or a pothole.
Some of the information Jaguar could gather, however, might be sensitive from a competitive perspective. Say how long the tires take to burn out.
This blockchain data sharing platform tries to facilitate the exchange of information that benefits everyone – like avoid the pothole – while not sharing competitive information unless the manufacturer wants to perhaps because the competitor is willing to pay quite a lot for it with the exchange of data happening peer to peer between the manufacturers without intermediaries.
So creating a wholistic system with crypto blockchain playing an important role as the internet of things now starts becoming a reality.