The automobile industry and the cryptocurrency world are set to embrace each other following the recent partnership between Jaguar Land Rover and MIOTA. The largest automobile manufacturer in the United Kingdom began testing software that will allow its drivers to earn IOTA [MIOTA], while sharing their driver data.

According to Reuters, IOTA will develop “smart wallet” technology integrated on Jaguar’s cars. Data pertaining to traffic congestion or potholes will be automatically reported to stakeholders like navigation providers and local law enforcement, and the drivers will be rewarded with the cryptocurrency. Participation in ride-sharing programs will also be rewarded, added the report.

The IOTA coins can be used to pay for tolls, parking, and charging electric cars. The partnership will further the “zero emissions, zero accidents, and zero congestion” goal, Reuters was told.

Currently, only the Jaguar F-PACE and Range Rover Velar have been upgraded with the “smart wallet” feature. Despite the Tata Motors-subsidiary testing integration, no timetable for commercial release has been announced by the company.

Dominik Schiener, Co-founder and Co-chairman of IOTA told Reuters,

“IOTA wants to enable interoperability with all these different players. So, there is no Jaguar coin, no BMW coin, but one universal token for this machine economy.”

Source: Trading View

This news had a significant impact on IOTA’s price. The coin jumped by a whopping 17.11 percent against the US Dollar over 24 hours.

With the attention firmly on the movement of Bitcoin [BTC], IOTA has stolen the spotlight as the month comes to a close. At 2300 UTC on April 28, the coin was trading at $0.261 and saw a jump by 18 percent to $0.308, which was the coin’s first price hike over this period.

The coin dropped down to $0.297, before hiking again by 5.31 percent. The coin’s relative movement was starker still, given Bitcoin was trading quite close to the Dollar, with no other notable rise in the larger coin market.

Market capitalization was around $725.65 million prior to the rise and shot up by 19.11 percent to $864.27 million after. The first immediate correction shaved $40 million, but the coin surged to $875.97 million after the second upswing, where it stood at press time.

Binance, the largest cryptocurrency exchange in the world, held the highest IOTA trading volume, accounting for 25.48 percent of the global volume in the trading pair IOTA/BTC. Other notable exchanges on the list were the controversy-ridden Bitfinex, Coinone, HitBTC, and Upbit.

The post IOTA [MIOTA] pumps by 17% as Jaguar integrates cryptocurrency for data-sharing access appeared first on AMBCrypto.

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