Jaguar Landrover are about to unveil the ultimate ‘connected vehicle’ which features an integrated smart wallet, developed by the Shannon R&D facility at Jaguar Land Rover in Ireland.
With more and more smart city initiatives taking place around the world, vehicles with integrated wallets will be ready to take their place in the data sharing economy. The ‘Smart Wallet’ technology uses IOTA Tangle for data and value transfer, enabling micropayments to be made for services and even for earning money. Importantly, the wallet will also enable the car to be connected to other services, such as automatic reporting of hazardous conditions to city authorities, auto reporting of congested traffic for other vehicles to be able to avoid the area. The earning potential wlil be when you get paid to share these small amounts of data with other vehicles. These micropayments could later be used to pay for parking, tolls and electric vehicle charging.
IOTA Tangle hopes to provide a backbone for such information sharing systems, providing a data layer for the exchange of funds and data between all connected elements of the Smart City.