Jaguar Land Rover Unveils New 'Smart Wallet' Technology

Jaguar Land Rover Unveils New ‘Smart Wallet’ Technology

Jaguar Land Rover Unveils New 'Smart Wallet' Technology

Jaguar Land Rover drivers will soon be able to make money whilst passively combating the nation’s pothole pandemic. Whilst it may sound too good to be true, it’s part of a very real technology and it’s coming soon.

Smart Wallet Tech

Jaguar Land Rover’s ‘Smart Wallet’ technology will see drivers earn cryptocurrency for sharing information about traffic and potholes. They’ll then be able to spend the currency on the likes of tolls, parking and even the occasional coffee. JLR has been working in partnership with the IOTA Foundation, utilising its ‘digital ledger’ technology to make the payments possible. It’s the tool they’re using to allow for cryptocurrency payments between vehicles without the need for a central bank. JLR also believes drivers will be able to use the tech to automatically pay for electric vehicle charging. As it stands, the technology is being developed by JLR engineers in Shannon, Republic of Ireland, in the likes of the F-Pace and Velar models.

An Information Revolution

Whilst the technology sounds like a marketing gimmick, Jaguar believes it’ll be at the centre of the future sharing economy. Nick Rogers, Engineering Director, has spoken about the technology’s potential. He said, it will “make people’s lives better, by allowing drivers to safely share data and make payments from their vehicle.” He added, “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.”

There are potentially far broader advantages to the technology than driver convenience. The data recorded with allow local authorities to accurately monitor road conditions and more effectively respond to damage. JLR also believes the data will lead to less congestion and traffic on the nation’s roads.

Jaguar’s research into smart wallet technology is a part of its ‘Destination Zero’ strategy. As a part of this, it’s aiming to reach zero emissions, zero accidents and zero congestion. Transforming vehicles into features of a shared economy, being able to record and share data, is a fundamental part of the plan.

What do you think about the technology, are you happy to earn money by sharing data or are privacy concerns an issue?

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