IOTA collaborates with Jaguar, uses proof-of-concept demo for tracing car energy

• The goal of this collaboration is to show the public both the source and use of Jaguar I-Pace’s energy.
• PoC is believed to be beneficial for the future of energy-conscious smart cities. 

IOTA has recently announced its partnership with auto manufacturer Jaguar Land Rover and French energy R&D center Engie Lab Crigen for a proof-of-concept (PoC) demonstration for tracing car energy with DLT. Their goal is to show the public both the source and use of a Jaguar I-Pace’s energy at the Trondheim Powerhouse.

Russell Vickers, the manager of Jaguar Land Rover’s vehicle-as-a-service engineering group, believes that PoC will be beneficial for energy-conscious smart cities in the future. He said:

“This agile initiative demonstrates vividly how cities can transform both infrastructure and transportation into a sustainable and mutually beneficial ecosystem. We are excited to let the public see how energy-positive buildings and vehicles such as the I-Pace in this demonstration can create positive sustainability innovation in line with Jaguar Land Rover’s Destination Zero strategy.”

Reportedly, the Jaguar I-Pace consists of an Iota-backed smart wallet that could be used for energy-charging, dubbed “Green Charging,” which is similarly tracked down by IOTA’s DLT. This would allow I-Pace owners to charge their cars exclusively with renewable energy. Users can also potentially earn IOT tokens by allowing their car to report data on road conditions, weather and traffic automatically. IOT tokens can also possibly be used for paying services such as tolls, parking and charging.

IOT/USD daily chart

IOTA has had two straight bullish days but had a bearish start to Wednesday (like rest of the crypto market). IOT/USD is currently priced a $0.248 and has found resistance at the downward trending line. The market is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 curve also doubles as immediate market resistance.