U.K. automaker Jaguar Land Rover said it is testing software that will allow drivers of its vehicles to earn virtual currency as an incentive for sharing data.
The company's so-called "smart wallet" technology will be installed in cars to reward drivers with IOTA tokens when they let their vehicles automatically disclose helpful information, like traffic congestion, to navigation providers or local authorities.
The IOTA cryptocurrency uses a distributed ledger technology, allowing people and machines to transmit money and data with no transaction fees, as its platform.
IOTA co-founder Dominik Schiener said, "IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy."
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