Using ‘Smart Wallet’ technology, owners earn credits by enabling their cars to automatically report useful road condition data such as traffic congestion or potholes to navigation providers or local authorities. Drivers could then redeem these for rewards such as coffee, or conveniently use them to automatically pay tolls, parking fees and for smart charging electric vehicles.
‘Smart Wallet’ uses cryptocurrency technology and Jaguar Land Rover has partnered with the IOTA Foundation to harness ‘distributed ledger’ technologies to make and receive these payments. The system requires no transaction fee to operate. Drivers could also top-up the ‘Smart Wallet’ using conventional payment methods.
The connected technology is being trialled at the new Jaguar Land Rover software engineering base in Republic of Ireland, where engineers have already equipped several vehicles, including the Jaguar F-PACE and Range Rover Velar, with ‘Smart Wallet’ functionality.
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