IOTA and Jaguar Land Rover are currently working together in order to explore distributed ledger technology (DLT) solutions related to the Economy of Things (EoT) and the Internet-of-Things (IoT). This is according to a press release shared by IOTA a few hours ago.
IOTA Explores New DLT Solutions With Jaguar Land Rover
As IOTA informed in a recent tweet, they will be exploring the potential of Blockchain technology for IoT and Smart Cities during an event at NTNU in Norway. IOTA is working with blockchain technology for the IoT and the EoT and it is currently working with a large number of companies around the world.
Jaguar Land Rover (JLR) has been working with IOTA for a long time. For example, they announced earlier this year that they were developing an IOTA-based car smart wallet to secure and monetize data exchanges with its vehicles.
The goal is to achieve their Destination Zero goal of zero accidents, zero congestion and zero emissions. This is why innovation plays an important role in helping the firm develop its strategy and improving its presence in the market.
IOTA, Jaguar Land Rover and +CityxChange will be holding a meeting at the Norwegian University of Science and Technology on August 28. IOTA will be providing different updates regarding the organization of their projects, how the technology can be applied to a wide range of industries and more. They are also going to be talking about the latest ecosystem updates.
Back on April 29, the IOTA Foundation announced its partnership with Jaguar Land Rover and unveiled an advanced connected vehicle that is integrated through the “Smart Wallet” project. The new Jaguar Land Rover “Smart Wallet” technology uses IOTA’s Tangle for data and value transfer. There are several vehicles, such as F-PACE and Range Rover Velar models that have already integrated this technology into their systems.
At that time, the IOTA Foundation informed:
“Mobility and cities will change dramatically in the next ten years with the advent of connected vehicles. These vehicles with their integrated wallets will play a critical role in a data sharing economy which will enable the smart cities of the future.”
IOTA is one of the largest cryptocurrency projects in the market. At the time of writing this article, IOTA is the 19th largest crypto, it is being traded around $0.26 per MIOTA and it has a market capitalization of $723 million.
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