Cryptocurrency users no longer need to perform a complex mining operation in their cars in order to earn tokens on the road – by some linguistic irony, Fiat has provided a solution.
Stellantis, Fiat’s parent company, has partnered with Kiri Technologies to reward drivers with cryptocurrency, according to a statement from the Italian car manufacturer on Tuesday. People using the latest Fiat 500 electric car will now receive 1 KiriCoin – worth € 2, or nearly $ 0.024 at time of publication – for every mile they drive. Fiat users who drive more efficiently through their vehicle’s energy consumption will also receive additional bonuses.
Gabriele Catacchio, Stellanti’s e-mobile communications host, said: “KiriCoins are created in a virtual wallet right inside the Fiat app. Driving data such as distance and speed is sent directly to the cloud, where it is automatically converted to coins. the calculation takes place instantly and is certified using an algorithm. blockchain “.
Stellantis said drivers using the system will be able to use tokens for products and services on the Kiri Market so they can buy gift cards for other retailers. Since the company does not manufacture 500 electric vehicles in North America, only EU drivers can receive cryptocurrency rewards.
The program is said to be aimed at promoting a “green driving style” in which people who drive more efficient cars receive more cryptocurrency rewards. According to Caccio, the company expects the number of such environmental loyalty programs to triple by 2024.
Fiat’s name comes from the Italian phrase Fabbrica Italiana Automobili Torino, which roughly translates to “Torino Italian Automobile Plant”. However, the term “fiat”, as in the case of coins, comes from a Latin word for the same spelling, which literally means “let it be done.”
While this way of earning digital driving rewards seems unique to Fiat, other users in space have developed innovative ways to earn cryptocurrency on the go. An industrial enthusiast set up a small farm at the BMV foundation that could mine both bitcoin (BTC) and ether (ETH).