In Search of A New Use Case for Crypto: Driver Rewards
30 April 2019 - 2:42AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
April 29, 2019 -- ADVFN Crypto NewsWire -- Crypto may be on the
cusp of finally going beyond the use cases of a trading vehicle and
a simple form of currency. Jaguar seems to be leading the way in
this respect, at least in the automotive industry, because they are
considering paying car owners to enable sharing of their driving
data. If such an idea proves to be successful in practice, then we
just might see the dawn of the heralded data economy, in which the
power goes back into the hands of the consumer.
Even so, according to CoinDesk, as
of now, this idea is merely in a trial phase. First and foremost,
what’s important to know is that the effort is the result of work
between the car manufacturer and the IOTA Foundation. This, of
course, means that the IOTA currency will be used as the lynchpin
of the project, despite the fact that it has not exactly lived up
to its promises over the course of its history.
Reportedly, IOTA tokens will be
utilized as less of a way for customers and the company to transact
with each other and more of a traditional currency, as suggested
above. According to CoinDesk, this means the coins will be
redeemable in real-time for purchasing gasoline, time on an
electric charger or even for paying tolls. With this in mind, it is
important to note that as of now, it is not at all clear how or
where the two groups plan to have the initial infrastructure in
place for any of this to happen.
If anything can be taken from this
early-stage partnership, it is that the core use cases of crypto
projects can change over time as partnerships
develop. Even if Jaguar and the IOTA Foundation
fail with this particular pilot, crypto projects could take a page
from IOTA’s book and remember that re-invention is always
possible.
By: BGN Editorial Staff
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