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Jaguar Land Rover to Reward Car Owners With Iota for Data Sharing

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British car manufacturer Jaguar Land Rover has announced it will be paying car owners Iota if they take part in a vehicle data sharing scheme.

Iota Rewards

Jaguar Land Rover has plans for improving vehicles and road conditions and the latest offering to its car owners is a part that will be crucial for collecting required data. Owners of their luxury cars can opt in now to transfer data generated from their vehicles to Jaguar Land Rover. To incentivize this, the owners will be rewarded with Iota tokens, which will be sent directly to their designated wallets. Users will also be able to redeem the tokens for various activities, such as paying for tolls and even buying coffee.

The data collected is the part of Jaguar’s Destination Zero plan. Destination Zero intends to gather and analysis enough data to ensure that accidents, especially in automated vehicles are brought down to zero practically.

Russell Vickers, one of the software programmers who is working on the software that would gather and analyze the data, 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.”

Iota also has been excited about the partnership, with its Head of Relationships, Holger Kother saying, “Our distributed ledger technology is perfectly suited to enable machine-to-machine payments for smart charging, parking and tolls, in addition to creating opportunities for drivers to earn their own digital currency

The partnership has seen Iota price jump nearly 20% in the market.

Blockchain in Vehicles

Vehicle manufacturers around the world have started to use blockchain, from enhancing the driving experience of car owners to increasing efficiencies in the supply chain. Sports car manufacturer Porsche has started using a blockchain concept “You Owe Me”, where owners can park their cars or cross tolls without paying. The amount would be billed be Porsche to car owners and the money transferred to respective receivers.

Hyundai is using blockchain to secure connections between cars and their owners’ smartphones, while Volkswagen and Ford have partnered with IBM to use blockchain for tracking of ethically sourced raw materials for batteries of their electric vehicles.

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