Once again, Tangle has proven its superiority over other similar technologies. Thanks to the very architecture of this distributed ledger, a Tangle based cryptocurrency has been chosen for rewarding drivers – Jaguar Land Rover will pay with IOTA for providing data from cars. As a result, the market rate of IOTA is moving up, and the capitalization of IOTA has increased by $150M.
Paracosm Project welcomes such progressive partnerships. This friendship of the IOTA Foundation and Jaguar Land Rover is another proof of bright prospects for Tangled based products – such as Paracosm platform and Caer Sidi service.
Drive a Jaguar – get MIOTA
The company Jaguar Land Rover plans to “achieve zero emissions, zero accidents, and zero congestion”. The first item here is probably about improving car technology. The others can be achieved with the support of data sharing systems – they give info about road conditions and positions of autos. Jaguar Land Rover develops its software that will be able to share such data, and it will include special “smart wallets” to reward drivers for allowing the software working.
From many existing cryptocurrencies, Jaguar Land Rover has chosen IOTA. Experts say that one of the reasons for this is the capability of the Tangle technology to handle a big volume of transactions. That’s one of the reasons why Paracosm Project also uses Tangle. IOTA from those smart wallets can be used in different ways, like payments for parking or charging electric cars.
Such partnerships make a significant boost in developing the IOTA community. We believe that progressive ideas of the Paracosm platform and Caer Sidi service will give the same quality of progress. For example, members of the IOTA community can participate in providing data transfer infrastructure.
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