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In current times, the valuable data generated from our everyday life is possessed by a small number of companies. With estimations that there will be 41.6 billion internet connected devices, generating 79.4 Zettabyte (approx. 80 billion terabyte) of data per year in 2025, as being stated in the official whitepaper of Jasmy, the stakes are high. The Jasmy Platform wants to capitalize on and ‘regain’ data sovereignty as it lays the focus of its efforts on Japan first and the world later.
The Jasmy platform, run by Jasmy Incorporated, wants to transform how Japan manages and controls personal data. It has developed a few Internet of Things (IoT) solutions that integrate blockchain in order to return data sovereignty back to individuals.
“Various problems concerning personal data need to be addressed and solved. We advocate “decentralization” as the key to the solution. Our idea is to provide a platform where everyone can manage their data based on their own judgement under secure and safe conditions.” – Jasmy Whitepaper
Jasmy speaks of the “Fourth Industrial Revolution,” which is a term describing the rapid technological advancement of the 21st century. It sees IoT technology as a cornerstone of this 4.0 revolution and sees the potential of the interconnection of devices and machines that could create a network capable of sharing an immense amount of data in real time. Data that needs to be secured under safe conditions.
The Jasmy team is led by experienced people from various industries, including former Sony executives. Kunitake Ando, Representative Director and former president of Sony, is known for his role in launching major products and services.
Kazumasa Sato, President and COO, has a deep background in marketing and IT. Hiroshi Harada, CFO, and Tadashi Morita, Senior Strategist and CSO, is an inventor and engineer, among many others.
This review of JasmyCoin (JASMY) was created for informational purposes. This article is not intended for promotion.
The Jasmy Ecosystem aims to create a data-driven environment where individuals and companies benefit mutually from secure and efficient data exchange. It includes a reward system and data management system of IoT devices where users are compensated for sharing their data.
The ambition resulted in a service called “Personal Data Locker,” a platform where people can safely manage their data in a peer-to-peer network and decide how much they want to disclose to businesses or services they wish to use.
Users can treat their personal data lockers like digital wallets or safe deposit boxes, controlling and managing their own data securely. Blockchain ensures that the data cannot be altered or stolen and allows users to track how their data is used.
Call centers benefit from PDL by not having to store excessive records, leading to better information management and smoother customer service interactions.
But it also provides base modules and introduces two core services, the Secure Knowledge Communicator (SKC) and Smart Guardian (SG), which consolidate essential components for easy use.
The Secure Knowledge Communicator (SKC) is a platform to control, manage, and trace personal data. It supports data democratization and allows anyone to access and use personal data only when necessary.
SKC offers a distributed user authentication system. Once users complete their identification and registration, they can securely store generated data in their personal data lockers, having full control over its access and usage.
Smart Guardian (SG) facilitates the registration of IoT devices on a distributed network and ensures that only the device owners can use their devices, integrating with the user’s ID from the SKC and the device’s own ID information.
SG helps manufacturers integrate smart technologies like smart interphones and security cameras into their products with enhanced security and lower costs.
Jasmy Secure PC is a cloud-based suite of services developed in collaboration with a leading BPO service company listed on the Tokyo Stock Exchange Prime. It’s designed to support mobile work environments by providing essential tools for data leak prevention, attendance management, and work efficiency analysis.
Like a vehicle’s dashcam, this feature records all PC activity, including file access history, and stores the logs on a cloud server for a set period. This transparency helps in monitoring and improving workplace practices.
This unique storage solution appears only in authorized environments and disappears elsewhere, like a ghost. It’s designed to protect sensitive data by ensuring it’s only accessible under secure conditions.
The administrative dashboard allows managers to monitor employee activity and access history in real time. It also enables remote actions such as access permissions for Ghost Storage and screen locking, enhancing security and managerial control.
By using decentralized technology such as Blockchain and Interplanetary File System (IPFS), immutability is one of the most critical components of the blockchain technology. This means that data must be consistently written into blocks and all the recorded blocks are impossible to alter.
Jasmy Incorporated has launched an ambitious project called “My Genome Guard,” which aims to revolutionize cancer treatment using personalized medicine. Their system, known as the Jasmy Personal Data Locker (PDL), ensures that genomic information is stored and managed with the utmost privacy and security.
Besides supporting a compensation system for those who contribute to genomic research, providing payments in JasmyCoin, Jasmy will also provide a Mutual Aid Payment in their cryptocurrency, as a form of research support ‘condolence money‘. The project that frames itself as the Japanese Bitcoin is literally aiding in cancer treatment.
Jasmy’s platform introduces a reward system where companies pay users for their personal data. This system emphasizes the value of personal data, offering rewards based on the quality and quantity of data shared, thus motivating users to participate actively.
While the Jasmy payment service aims to transform personal data into a tangible asset that can be converted into points, coupons which is a little bit similar to cash, uses Jasmycoin. With an eye to using it in the future as a reward to those who shared their information. The virtual currency, which was first listed in Japan in 2021 and has a circulating supply of 49,394,999,677 coins out of a total and maximum supply of 50,000,000,000 JASMY.
The current market capitalization of JasmyCoin stands at approximately $1,841,943,889.35.
JasmyCoins can be purchased on various cryptocurrency exchanges, including both centralized and decentralized platforms.
If we look into the future, we could see that Jasmy’s roadmap includes the commercialization of its platform services and implementing their Japanese strategy to expand globally. The next steps involve increasing the circulation of Jasmy tokens and enhancing community engagement worldwide through targeted media and marketing strategies. With their research grants, and their services that have been adopted by Nippon Travel Agency Co., which uses it to manage customer information, and Witz Corp., a Nagoya-based company that helps manage logistics at large events, you can say its technology can be used to enable better data analysis and sharing across many industries.
The project’s focus on integrating blockchain with IoT, combined with strong leadership (former Sony executives) and some strong strategic partnerships, could lay a solid foundation for its future in Japan. However, while the project could mature a little more, investors are advised to consider overall market conditions and perform due diligence before making investment decisions.
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