Nike, Facebook, and Now Jaguar: Big Corporations Turn to Crypto

In a further sign of acceptance for the crypto business, Jaguar Land Rover (JLR) Limited has declared the testing of a crypto payment system. Details released show a wallet which enables users to earn while on the road’s evolution. The system will utilize IOTA, which developers say has the benefits of a zero fee network and inherent scalability.

JLR And IOTA, Another Coup For Crypto

The car business has suffered upheavals. From dieselgate to exploding airbags, not forgetting how the new child, Tesla, is turning the industry on its head. But in a bid JLR is turning to crypto.

After news of Nike’s cryptokicks, JLR is the second household name, in as many days, to announce plans for crypto adoption. Taking this into consideration, it seems as if the world has finally started to grasp the possibility that blockchain technology has to offer.

BREAKING: Jaguar Land Rover has partnered with IOTA to enable car owners & owners to earn cryptocurrency.

We’re speaking electronic wallets, tokens, and an entire ecosystem.

THE VIRUS IS SPREADING

— Pomp (@APompliano) April 28, 2019

JLR’s “Destination Zero” Vision

JLR’s “Destination Zero” vision sets out the company’s plans for sustainability. It seeks to achieve zero injuries zero emission, and zero congestion – a manifesto that is challenging to accomplish indeed. Their policy’s opening statement reads:

“A changing world: In a world, there are exciting opportunities in addition to challenges, not only for how we affect company, the environment and society for the better although for our future cars and services. ”

Our innovative ‘Smart Wallet’ technology will let drivers earn cryptocurrency on the go! See the technology in action at our Software Engineering Centre in Shannon. #ConnectedTechnology #SmartCity #IOTA pic.twitter.com/vQaUOk71t2

— Jaguar Land Rover (@JLR_News) April 29, 2019

But is the idea of shared economy, in which drivers receive rewards for their communal actions. Under this system, crypto can be earned by a driver for alerting others. Equally, any funds could pay for motoring expenses, such as parking or toll fees. This concept forms the basis of the future, in which technology will be used to improve lives’ city. On speaking of the partnership, Holger Köther, Director of Partnerships at IOTA Foundation stated:

“Our dispersed ledger technology is perfectly suited to empower obligations for charging, parking and tolls, as well as creating opportunities to earn their own money. We’re eager to partner with Jaguar Land Rover in executing its IOTA-powered car wallet, delivering a significant convenience benefit for their clients. ”

IOTA Price

On news of the collaboration, the IOTA price surged 17 percent to around $0.31 in the time of publication. This represents a 94% decrease in the all-time-high of $5.01, in December 2017. But nonetheless, is still welcome news considering the announcement bucked a sliding trend.

#IOTA reaction to the Jaguar news pic.twitter.com/ptXSuyxT0k

— blockchaincenter.net (@blockchaincent) April 29, 2019

The same, the present direction may experience some retracement. According to Lunar Express, a small dip in price might be incoming, as bulls struggle to break resistance in the $0.31 level. However, should resistance be broken, a potential rise to $0.41, or even $0.52 is possible in the not too distant future.

Bulls still have to manage that resistance zone and this rally can stall around 0.4165 and 0.4589. Bulls need to smash it through 0.52754 in order to make it striking! That my friends, would be our point of no return!!! #crypto #iota #trading #bulls #cryptotrading

— Lunar Express (@AskLunarExpress) April 29, 2019

The article Nike, Facebook, and Now Jaguar: Big Corporations Turn to Crypto appeared first on NewsBTC.

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