The largest British automaker Jaguar Land Rover has started testing smart contracts based on the IOTA blockchain. According to Reuters, the program being developed is a smart wallet embedded in cars.
The new service will allow participants to receive IOTA tokens for providing information about road congestion and road pavement status, as well as for participating in the ridesharing program. Subsequently, drivers will be able to spend them on paying for parking or charging electric cars.
As their ultimate goal, developers call the reduction of accidents and traffic congestion.
It is known that this technology will be used in Jaguar F-PACE and Range Rover Velar. The launch date of the software for the mass consumer is unknown.
IOTA 24h Price Chart
These news had great impact on the IOTA price. It rose for almost 14% in 24 hours and is being traded around $0.3.