Jaguar Land Rover (JLR) has begun testing a digital wallet that allows drivers to earn cryptocurrency credits in return for sharing information about traffic conditions such as jams and potholes — and then exchange them for a complimentary cup of coffee, parking charges or electric vehicle charging.
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, the car maker says.
The digital wallet is accessed via a vehicle’s dashboard display and stores cryptocurrency credits earned when the car automatically reports road condition data to navigation providers or local authorities.
JLR has partnered with The Iota Foundation to use distributed ledger technologies to make and receive the machine-to-machine payments.
The connected car technology is being tested at JLR’s new software engineering base in Shannon, Republic of Ireland, where vehicles including the Jaguar F-Pace and Range Rover Velar have been equipped with the Smart Wallet functionality.
A 56-second video shows the system in action:
JLR software architect Russell Vickers said the system would offer significant benefits.
“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,” he explains.
“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.”