JLR Offers Customers Cryptocurrency Earnings

Jaguar Land Rover is testing an in-car payment system that could earn its customers bonus incentives with cryptocurrency.

Its ‘Smart Wallet’ system claims to allow JLR owners earn credits every time their vehicle automatically reports journey data, such as traffic congestion or road hazards, to navigation providers or local authorities. The cryptocurrency credits can then be redeemed for services including coffee, road tolls, parking fees and for smart charging BEVs.

JLR is developing the technology in partnership with the IOTA Foundation and claims that, unlike other similar systems, it requires no transaction fee. The carmaker predicts the network will gain speed with 75 billion connected devices by 2025. The technology is being trialed at JLR’s software engineering base in Shannon, Republic of Ireland, where engineers have already equipped several vehicles, including the Jaguar F-PACE and Range Rover Velar.

Russell Vickers, JLR software architect, said: “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. 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.”

— Paul Myles is a seasoned automotive journalist based in London. Follow him on Twitter @Paulmyles_

 


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