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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.

Seven-figure cars highlight day one of RM's Monterey auction

RM Auctions is one of several houses holding auctions during the Monterey weekend, and Friday night's festivities got quite pricey. Seven-figure vehicles were not at all uncommon during the first day of the two-day event, with the 1953 Ferrari 375 MM Spider, seen above, crossing the block for $9,075,000.
Other big earners included a pair of rare Ferraris, a 1950 166 MM Barchetta and a 1955 750 Monza Spider, which took $3,080,000 and $4,070,000, respectively. Outside of the red Italians, a 1939 Mercedes-Benz 540K Special captured $7,480,000 while a stunning, color-appropriate 1955 Jaguar D-Type took $3,850,000. We've got images of these vehicles, and a few other stunning examples of last night's auction, in the gallery above.
Thought it seems impossible, tonight's auction is expected to see even more high-dollar action. The winner of the 2012 Pebble Beach Concours, a 1928 Mercedes-Benz 680S Torpedo Roadster is expected to command over $10 million. Also crossing the block will be a car we reported on a few weeks back - a supremely rare 1967 Ferrari 275 GTB/4 NART Spyder. One of only 10 in the world, it's expected to take anywhere from $14 to $17 million when it hits the stage tonight.

Jaguar details new Ingenium four-cylinder engines [w/video]

When Jaguar lifted the veil on its new XE sports sedan earlier this month, it only revealed details on one engine - that being the 3.0-liter supercharged V6 in the flagship XE S. But we already knew that the British automaker's new entry-level model will offer many other powertrain options, and now it has revealed a little more.
Jaguar has been developing a new family of 2.0-liter four-cylinder engines it calls Ingenium, which will be offered in a wide array of configurations and specifications. In advance of its debut at the upcoming Paris Motor Show, the Leaping Cat marque has announced the specifications of the two diesel versions. The first will offer 161 horsepower and 280 pound-feet of torque and some of the best environmental credentials on the market. There will also be a more potent version with 177 hp and 317 lb-ft, which Jaguar says is "one of the highest torque outputs in the class." Either way, both versions feature variable exhaust valve timing, cooled low-pressure exhaust gas recirculation and selective catalytic reduction technologies to help meet the stringent Euro 6 standards.
That's all well and fine, but considering that Jaguar doesn't offer diesels in North America, the chances of these oil-burners making their way Stateside seem slim. But if you watch the video below, you'll also find basic specs on their gasoline counterparts as well. Like the diesels, they're turbocharged and displace 2.0 liters, but in petrol form, they offer 197 hp and 206 lb-ft of torque, or 236 hp and 250 lb-ft.