Panasonic, the renowned tech giant, has joined forces with Jasmy to introduce a cutting-edge Web3 platform that facilitates the connection of personal data on the Internet-of-Things (IoT). This innovative platform will be based on Jasmy’s highly acclaimed Personal Data Locker product.
The collaboration between IoT platform developer Jasmy and Panasonic Advanced Technology commenced in February but was officially announced on March 26. The primary objective of this partnership is to offer users secure data storage while granting them complete control over access to their personal data. Additionally, the platform aims to enhance data processing and reaction times, thereby ensuring a seamless user experience. According to Jasmy’s chief financial officer, Hiroshi Harada, who is known by the name Hara on social media, the development of this new platform is expected to be completed within a span of three to six months.
Jasmy’s website explains that their Personal Data Locker utilizes blockchain technology to manage only hash values while storing data files in a decentralized network. This unique system eliminates any limitations caused by the storage capacity of individual blocks or large file sizes, ensuring optimal performance at all times.
Established in 2016 by former Sony executives, Jasmy made headlines in 2021 when it listed its very own cryptocurrency, JasmyCoin (JASMY), on various exchanges. The company proudly claims to be Japan’s equivalent of Bitcoin. According to its website, Jasmy operates on a business model where merchants pay to access the data stored by the company, and the data owners, represented by JASMY, are rewarded in return.
Earlier this month, Jasmy introduced the launch of a groundbreaking project called Janction, which aims to establish a public layer-2 and AI service hub by creating a GPU colony. This initiative further reinforces Jasmy’s commitment to innovation and advancement in the technology sector.
Following the announcement of the partnership between Panasonic and Jasmy, trading in JASMY experienced a remarkable surge, with a 111% increase within a 24-hour period. The value of JASMY reached a peak of $0.024 on March 26, rising from $0.021 the previous day. With a market capitalization of $1.1 billion, JASMY has captured the attention of investors and industry experts alike.
In conclusion, the integration of Panasonic’s expertise and Jasmy’s innovative technology is set to revolutionize the IoT landscape and empower users with greater control over their personal data. As the popularity of Bitcoin continues to grow, Jasmy’s emergence as a prominent player in the cryptocurrency market is indeed noteworthy.