Panasonic, the renowned tech giant, has joined forces with Jasmy (JASMY) blockchain to introduce a groundbreaking Web3 platform.
Panasonic, the renowned tech giant, has joined forces with Jasmy (JASMY) blockchain to introduce a groundbreaking Web3 platform that will facilitate the seamless connection of personal data on the Internet-of-Things (IoT). The collaboration between the Japanese-based blockchain and Panasonic Advanced Technology was initiated in February, but the official announcement was made on March 26.
The newly developed platform, based on Jasmy's innovative Personal Data Locker product, aims to provide a secure data storage solution while granting users full control over access to their data. Additionally, it aims to enhance data processing and reaction times. The platform will adopt agile development methods coupled with Web3 technology, with a strong emphasis on speed. The intention is to create an open platform that can be widely utilized in various fields. Through this approach, the project envisions recruiting a large user base and fostering broad adoption.
Jasmy's Chief Financial Officer, Hiroshi Harada (known as Hara on social media), revealed on X that the decentralized personal data platform is expected to be constructed within the next 3 to 6 months. According to the information available on the Jasmy website, the Personal Data Locker manages only hash values on the blockchain, while the actual data files are stored in a decentralized network. This architecture ensures that the performance of the system is not hindered by limitations such as storage capacity of individual blocks or large file sizes.
Founded in 2016 by former Sony executives, Jasmy made headlines in 2021 when it listed its native cryptocurrency, JasmyCoin (JASMY), on exchanges. The company has been dubbed "Japan's Bitcoin" and operates a unique system where merchants pay Jasmy to access data stored within the platform, while data owners are rewarded with JASMY tokens.
The news of the partnership between Panasonic and Jasmy has led to a 3% gain in JASMY over the past 24 hours. Trading volume surged by over 100% to $256 million. The token is up 42.8% in the past month.
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