IOTA Demonstrates the Result of Its Big-Name Partnership with Jaguar

Libra Coin News
Fri, 08/30/2019 - 16:10
Alex Dovbnya
This is the first demonstration of the smart wallet that was created by IOTA in close cooperation with Jaguar
Cover image via

IOTA, the Germany-based project that merges Internet-of-Things (IoT) and crypto, has finally unveiled a so-called “smart wallet” during the grand opening of Powerhouse Brattørkaia.

The innovative product was developed in partnership with premium-class car maker Jaguar Land Rover.

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A much-anticipated feature

The Tangle-based wallet will be integrated into all-electric crossover Jaguar I-Pace, which is being heavily marketed in Norway. IOTA co-founder Dominik Schiener earlier said that he wanted to ensure interoperability between different cars with one token that would serve as a lynchpin for a machine economy.

The initiative is supposed to reduce car emissions and traffic congestion by incentivizing users to report relevant data, such as potholes or weather conditions. A vehicle that supports the smart wallet technology is able to earn money or spend it on micropayments (parking, charging, etc.).

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In the green

Jaguar is also testing an IOTA-powered charging feature, which allows car owners to charge from green energy sources. This feature can be easily turned off in the smart wallet menu.

With the help of its demonstration, IOTA strived to emphasize the importance of sustainable energy.

As reported by U.Today, the company earlier joined forces with Danish energy giant Energinet to lead the country’s transition to renewable energy.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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