Cryptocurrency adoption is gradually increasing and the latest announcement comes from the stable of Fiat. The carmaker will be rewarding efficient drivers of its electric cars with the KiriCoin crypto coin.
The company has partnered with startup Kiri Technologies amid its first-ever electric vehicle. Owners of its electric car named New 500 will be rewarded with KiriCoin, which can be swapped for vouchers and can be used for services including Spotify, Airbnb, Netflix, Apple and Amazon in the United Kingdom.
According to Fiat, drivers of its New 500 can secure about 125 pounds worth of the coins annually based on their efficient driving skills and the reward is something equivalent to 18 months subscription to Netflix or 12 months of the same for Spotify.
Country Manager Greg Taylor said the company is delighted to partner with the UK-based startup and pave the path to becoming the first vehicle maker to reward with KiriCoin.
Taylor added that the innovative offering may cement their new electric car's position at the forefront with respect to sustainability mobility as well as incentivizing the drivers for adopting responsible and efficient driving that enhances the car's efficiency and is respectful to the environment.
Fiat will simultaneously be working on efficient driving and maintaining ecoscore that is a rating of zero to 100. Customers equipped with top scores may save 20 percent on the charging costs which can be compared to about 50 pounds on charging costs at homes.
Fiat was founded in July 1899 by Giovani Agnelli, Cesare Goria Gatti, Luigi Damevino, Roberto Biscaretti di Ruffia, Emanuele Cacherano di, Carlo Racca, Bricherasio, Alfonso Ferrero, Lodovico Scarfiotti and Michele Ceriana Mayneri. It is headquartered in Longotto, Piedmont, Italy.
The company is the largest manufacturer of automobiles in the country and simultaneously credited as the largest in Europe It is the third-largest automobile manufacturer in the world. The first is General Motors followed by Ford.
The company's production reachedÂ the highest number in 1970 in Italy with 1.4 million cars and over 100,000 employees. Apart from automobiles, it has simultaneously manufactured railway engines, farm tractors, military vehicles, aircraft as well as weapons like the Fiat-Revelli Modello of 1914.
Fiat now manufactures from several locations outside Italy and the largest plant is in Brazil. It has factories in Mexico, Poland and Argentina. The company has received several awards including European Car of the Year for cars like Fiat 124, Fiat Uno, Fiat Punto, Fiat Panda, Fiat Bravo and Fiat 500.