Jaguar Land Rover produced over 600,000 vehicles last year. For a luxury brand, this is a substantial output. Tesla, by comparison, produced under 250,000. The news broke sometime yesterday afternoon that JLR is utilizing the IOTA tangle (blockchain) for their new cryptocurrency program. They’re going to have on-the-go payments (such as tolls, similar to EZ Pass) and also pay owners for data collected.
There’s some degree of privacy trade-off here, and the rewards don’t sound very high. You might be able to earn a cup of coffee now and then, but perhaps the toll-paying feature will be most interesting to users.
Presumably, they’ll top up an account with a fiat method and not have to worry about stopping at toll booths, similar to EZ Pass and other purposes. If we assume that Jaguar will sell half its production, that’s a few hundred thousand people who will be on-boarded into a form of crypto.