Jaguar testing IOTA rewards for drivers, MIOTA shoots up by 11.6%

Jaguar testing IOTA rewards for drivers, MIOTA shoots up by 11.6%

Jaguar Land Rover is testing a “smart wallet” using IOTA; If launched, vehicle owners would be rewarded for sharing driving data and could “pay for tolls, parking, and charging for electric cars” using the cryptocurrency, according to Reuters on Apr. 28th.

IOTA is a distributed ledger that, unlike Bitcoin which leverages a blockchain data structure, uses a directed acyclic graph (DAG) to achieve scalability and high transaction throughput. The crypto is often lauded as a solution for internet-of-things (IoT) applications.

On Apr. 28th, Reuters reported that Jaguar Land Rover, a British multinational automotive company owned by Tata Motors, is testing an IOTA-enabled wallet at its engineering base in Shannon, Ireland, where the Jaguar F-PACE and Range Rover Velar are being fitted with the software. The company has yet to announce a release date for the software.

Jaguar F-PACE courtesy of Wikipedia

Dominik Schiener, the IOTA co-founder told Reuters that the smart wallet technology can be “easily adapted into all new vehicles.”

Binance IOTA/BTC on Cryptowat.ch

Following the 16:15 PDT news release, the price of MIOTA on Binance, the exchange with the largest trading volume, shot up from 0.00004918 BTC ($0.252) to 0.0005488 BTC ($0.283), an 11.6 percent increase.


Updated: Nov 7 at 2:37 am UTC

IOTA, currently ranked #17 by market cap, is up 4.28% over the past 24 hours. MIOTA has a market cap of $801.75M with a 24 hour volume of $24.8M.

Chart by CryptoCompare

IOTA is up 4.28% over the past 24 hours.

Posted In: , Adoption, Partnerships, Price Watch, Technology
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Mitchell Moos

Mitchell Moos

Contributing Analyst @ CryptoSlate

Mitchell is a software enthusiast and entrepreneur. His first startup built algorithms for optimizing cryptocurrency mining. Prior to CryptoSlate, Mitchell was a project manager at a firm that built distributed software on Hyperledger. In his spare time he loves playing chess and hiking.

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