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Jaguar Land Rover planning to allow owners to earn cryptocurrency

Jaguar Land Rover, Britain's largest auto manufacturer, said on Monday it is testing software that will allow drivers of its cars to earn the IOTA cryptocurrency as a reward for sharing data. The company is developing what it calls "smart wallet" technology to be installed in its automobiles. This would reward Jaguar car drivers with IOTA coins for actions such as enabling their vehicles to automatically report useful data, such as traffic congestion or potholes to navigation providers or local authorities. Drivers could also earn rewards if the car participates in a ride-sharing program, Jaguar said. The tokens earned could be used to pay for tolls, parking and charging for electric cars. The overall goal was to "achieve zero emissions, zero accidents, and zero congestion," the company said. Global car companies are exploring blockchain applications, figuring out different ways in which they can leverage the technology to suit their different needs. Blockchain, the system powering cryptocurrencies like bitcoin, is a shared database that is maintained by a network of computers connected to the internet. The British car company is testing the technology at the new Jaguar Land Rover software engineering base in Shannon, Ireland, where engineers have already equipped several vehicles, including the Jaguar F-PACE and Range Rover Velar, with "smart wallet" features, the company said. It does not yet have a timetable for when it will be commercially available, said Jaguar, a subsidiary of Tata Motors. The IOTA token is based on a distributed ledger technology that enables people and machines to transfer money and data without any transaction fees. IOTA trades on digital asset exchanges and was last at 27 U.S. cents per token. "The smart wallet technology ... can be easily adapted into all new vehicles," Dominik Schiener, IOTA co-founder and co-chairman of its board, told Reuters on Friday. "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," he added.

Jaguar Land Rover won't get a bailout from the UK

Bailout talks between Jaguar Land Rover and Tata Steel with the UK government have ended, leaving both firms to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported on Friday. The report said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors and Tata Steel, both owned by Indian conglomerate Tata Group. The bailout plan, titled "Project Birch", had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out. The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement. The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment. Related Video: Earnings/Financials Government/Legal Jaguar Land Rover

Jaguar explains the perfect driver seating position

Although the shapes of car seats are one-size-fits-all, manufacturers have created numerous ways to customize how seats are positioned in efforts to cater to the multiple sizes of drivers. Whereas old vehicles only had the options of reclining and sliding forward or backward, new cars have seats that move up, down, forward, backward, and just about any other direction. In a new video, Jaguar demonstrates exactly how to use these features to find the perfect seating position. The advice comes from Steve Iley, Jaguar Land Rover's chief medical officer. Many people only think of seating position as a means to comfort, but when dealing with posture, it can affect a person's health. Iley's first tip is to empty out your pockets, thus avoiding any impingements. That includes anything from wallets to keys to cellphones to stowed-away snacks. Before putting a seatbelt on, the driver should then make sure his or her butt is all the way to the rear of the seat and that the entire back is touching the seat. Next are the seat adjustments. Iley suggests moving the back of the seat until the driver's spine and pelvis are aligned and straight. Note in this position the driver's thighs should be resting on the seats without any pressure points. Following this step, check the distance and position of the feet relative to the pedals. Jaguar says in the correct position, the leg should still be slightly bent when a pedal is fully pressed. The driver's elbows should be in a similar slightly bent position. With both hands on the wheel, make sure the arms aren't straight and have a slight kink at the elbow. In an ideal position, the driver's shoulders should remain in contact with the seat even during turning. Last, the headrest should be aligned with the top of the head. Not mentioned in Jaguar's advice is that NHTSA urges you to sit at least 10 inches from the steering wheel — as far back as you can while still comfortably reaching the pedals and wheel — in order to minimize the potential for serious injuries from airbag deployment, and the old 10-and-2 hand position is discouraged for the same reasons. Hands at 3 and 9 or at 4 and 8 are the new norm. AAA demonstrates in the video below. If any part of this doesn't make sense, you're in luck. Both videos are helpful. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.