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Nothing stimulates a cryptocurrency better than the news of a great partnership and they have been rare during the crypto winter. Many altcoins have simply been lined up to their lowest level in a long time, but one of them has recently been revived at the news of a great partnership.
Jaguar Land Rover will offer IOTA rewards
The UK's largest automaker announced yesterday that it has begun testing software that will allow drivers to be rewarded with cryptocurrency for data sharing. The Reuters report added that Jaguar Land Rover was developing a "smart wallet" that would be installed in vehicles to enable cryptographic deposits. Drivers could win the IOTA for information sharing such as traffic conditions or potholes via automatic sensors or connected navigation providers or local traffic authorities.
Cryptographic rewards can also be earned for participating in ridesharing programs and can be used to pay tolls, parking fees or charging points for electric cars, Jaguar added. The firm said it was aiming to achieve "zero emissions, zero accidents and zero congestion",
According to the report, the new technology is currently being tested on the new Jaguar Land Rover software engineering base in Shannon, Ireland. The Jaguar F-PACE and Range Rover Velar models have already been equipped with the "smart wallet" and engineers will test with the IOTA blockchain.
IOTA co-founder and co-chairman Dominik Schiener told Reuters;
"Smart portfolio technology can be easily adapted to all new vehicles. IOTA wants to allow interoperability with all these different actors. So there is no Jaguar part, no BMW part, but only one universal token for this economy of machines ".
Not everyone is convinced that IOTA was the right choice and the Bitcoin maximalists reacted as expected;
Jaguar will start giving $ IOTA as a reward to his drivers …
Then, they will understand that IOTA is a vaporware …
And instead, they will do what they should have done from the beginning …
Reward their drivers with Bitcoin
– Josh Rager ? (@Josh_Rager) April 29, 2019
However, it does not recognize that it is unlikely that the Bitcoin network will be able to handle the volume of transactions needed to facilitate this new crypto ecosystem.
Market reaction IOTA – FOMO City
As expected, the IOTA markets reacted instantly and the token went from an intraday trough of $ 0.26 to $ 0.32 and continues. The daily volume had also doubled from $ 10 million to $ 25 million at the time of writing. The 20 percent water pump is a lengthy process for IOTA, which has dropped dramatically compared to market capitalization in recent months.
tear $ IOTA pic.twitter.com/alvdljjdFM
– The crypto dog (@TheCryptoDog) April 29, 2019
Since the beginning of the year, IOTA has lost 13% and has been extremely bearish. On the other hand, coins like the NBB have won 300% this year, so IOTA is lagging far behind. On his record of more than $ 5, the Tangle-based token spilled nearly 94% of its content and was one of the worst altcoins ever to perform. IOTA has remained virtually inactive since last September and has not moved for seven months.
IOTA price 24 hours. Coinmarketcap.com
This partnership could finally be the lifeline that IOTA needs to get out and find the bullish ground. The only hope of the MIOTA hodlers is that a big dump does not follow the pump of today.
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