JLR Tests “Smart Wallet” Tech

Jaguar Land Rover is testing a blockchain-based software that drivers can use to receive crypto-currency credits for sharing road information about traffic, nearby emergency vehicles and potholes.

The credits can be used to automatically pay for tolls, parking and electric vehicle charging. JLR is testing the so-called smart wallet technology with specially equipped Jaguar and Land Rover models at the carmaker’s software engineering center in Ireland.

The company developed the technology with the IOTA Foundation, a 2-year-old non-profit that specializes in the Internet of Things and crypto-currency applications. JLR predicts that 75 billion devices will be connected to IOTA’s network by 2025.