Jaguar Land Rover wants to exchange vehicle data for cryptocurrency

Charlie Spargo's picture
by Charlie Spargo

Using the cryptocurrency Iota and its 'smart wallet' technology, the heritage British car brand is testing paying out for drivers' data consents.

Jaguar Land Rover want to know, for example, where traffic jams or potholes are - and want to make it worth people's while to share that information. They're trialling software in new vehicles to trade data for Iota.

The smart wallet would be installed in future vehicles manufactured, and giving consent to certain triggers, like automatic hold-up reporting or ride-share offering, would earn the digital currency.

Iota was designed to be suitable for the Internet of Things - and calls itself "the backbone of IoT".

Any cryptocurrency earned by a driver could be redeemed for costs like tolls, parking or electric charging.