Earn Cryptocurrency and Make Payments While Driving Jaguar’s New Smart Wallet

Drivers will soon be able to earn cryptocurrency and make payments on the move using innovative connected car services being tested by Jaguar Land Rover. The goal is to “achieve zero emissions, zero accidents, and zero congestion.”

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Drivers will soon be able to earn cryptocurrency and make payments on the move using innovative connected car services being tested by Jaguar Land Rover.

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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’ removes the need for drivers to hunt for loose change or sign up to multiple accounts to pay for a variety of everyday services.

  • Innovative ‘Smart Wallet’ technology will let drivers earn cryptocurrency on the go
  • Credits can be earned for sharing information about traffic jams and potholes and used to automatically pay for tolls, parking and electric charging
  • Connected services are part of Jaguar Land Rover’s Destination Zero vision – zero accidents, zero congestion and zero emissions
  • Technology on test at new Jaguar Land Rover software engineering centre in Shannon, Republic of Ireland

‘Smart Wallet’ uses the latest cryptocurrency technology and Jaguar Land Rover has partnered with the IOTA Foundation to harness ‘distributed ledger’ technologies to make and receive these payments. Unlike other similar systems, due to its structure, it requires no transaction fee to operate and over time transactions will get faster across the entire network, forecast to include some 75 billion connected devices by 2025*. Drivers could also top-up the ‘Smart Wallet’ using conventional payment methods.

“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,” stated Russell Vickers, Jaguar Land Rover software architect.

“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. 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,” stated Nick Rogers, executive director of product engineering, Jaguar Land Rover.

“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. We are excited to partner with jaguar land rover in implementing its iota-powered car wallet, delivering a major convenience benefit for their customers worldwide added Holger Köther, director of partnerships, IOTA foundation.

The advanced connected technology is being trialled at the new Jaguar Land Rover software engineering base in Shannon, Republic of Ireland, where engineers have already equipped several vehicles, including the Jaguar F-PACE and Range Rover Velar, with ‘Smart Wallet’ functionality.

The leading technology research forms part of Jaguar Land Rover’s Destination Zero strategy which aims to achieve zero emissions, zero accidents, and zero congestion. Part of reaching this target is developing a shared economy where the vehicle plays an integral role as a data gatherer in the smart city of the future. For example, the connected ‘Smart Wallet’ services will promote a reduction in congestion with the sharing of live traffic updates and offering alternative routes to drivers, reducing tailpipe emissions from idling in traffic.

Experts at the innovative Shannon R&D facility, are developing new technologies to support electrification and self-driving features on future Jaguar and Land Rover vehicles. Supported by the Irish Development Agency, the Shannon team is also developing the next generation of electrical architecture as well as exploring advanced driver assistance systems features for future vehicles.

This follows news earlier this month that car giants, General Motors and BMW, are looking to share driverless car data on the blockchain while Hyundai is looking to develop a blockchain platform to track the history of used cars, demonstrating that there are opportunities for transformation across the automotive industry value chain.
 
Lone Fønss Schrøder, CEO of Concordium and Vice Chairman of the Board of Directors at Volvo Cars commented:
 
“Many players in the automotive industry are already considering blockchain technology usage that goes way beyond swapping tokens for data, and which include enabling the registration of car ownership, service records, and mileage securely and immutably on public blockchains. Another opportunity for the use of blockchain technology in the automotive industry is to use the same type of encryption schemes in various ways to enhance ownership control. If a token should be used in a blockchain system, it’s important for the user that it is helping bring costs down and users should not be at the mercy of potential outswings in the value of such a token.”
 
The auto market continues to move forward in embracing blockchain solutions.
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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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