Jaguar, the British racing car company, announced the development of a cryptocurrency keychain to reward the users of their cars for sharing their car data through the IOTA blockchain.
The Jaguar purse or key ring is still in development, according to Reuters. The car company explains that they will reward the users of the company for automatically sharing data and reports, such as traffic jams and road bumps. Likewise, they will offer rewards for those who participate in a program of shared trips between Jaguar clients.
This purse, which could be integrated into Jaguar cars, will be tested on the new F-PACE and Range Rover Velar, part of the Jaguar Land Rover line. The software that acts with the IOTA network is being tested in Ireland and, for the time being, will not be commercially available.
Jaguar users will be able to change their IOTAs in tolls, parking and loading for electronic cars. However, the IOTA tokens could be invested in other activities; but it is not known at the moment the amount of cryptoactives that users will receive in exchange for the data of their car.
Currently each IOTA token is quoted at USD 0.315, a price that reflects a growth of 24.80% in the last 24 hours according to Messari. This is the first increase in IOTA after the crash of the cryptoactive price in the middle of last week, when it dropped from USD 0.310 to USD 0.253. This drop coincided with a correction in the price of bitcoin that affected the main cryptocurrencies of the ecosystem.