Panasonic Partners with Jasmy, Sparks Growth in Data Connectivity and Cryptocurrency Trading
Summary:
Panasonic has joined forces with IoT platform developer Jasmy to create a Web3 platform, facilitating connectivity of personal data on the Internet-of-Things. Leveraging Jasmy’s Personal Data Locker for data storage, this platform will enhance data privacy, improve processing speed, and allow users to control data access. Construction of the platform is expected to take between three and six months, according to Jasmy's CEO Hiroshi Harada. This partnership has led to a dramatic surge in JASMY trading, elevating its market cap to $1.1 billion.
In a recent development, Panasonic has teamed up with Jasmy to launch a Web3 platform aimed at linking personal data on the Internet-of-Things (IoT). The forthcoming platform will be established on Jasmy’s data storage product, Personal Data Locker. The partnership between IoT platform maker Jasmy and the Advanced Technology Department of Panasonic initially began in February, with the official announcement coming on the 26th of March. This innovative platform will ensure not only secure storage of data but also allow users to regulate data accessibility and enhance processing and response speed. The released statement highlighted the integration of Web3 technology with agile development strategies with a focus on velocity. They also aim for widespread user recruitment and aim for applicability across multiple sectors. Jasmy CEO, Hiroshi Harada or 'Hara' as he is known on social media, revealed that the construction of the platform would take between three and six months. Jasmy's Personal Data Locker, as seen on their site, manages only hash values on the blockchain while storing data files on a decentralised network, enhancing performance rate by not limiting the storage capacity of individual blocks and large file sizes. Jasmy, created by ex-Sony heads in 2016 and listed its cryptocurrency JasmyCoin (JASMY) on exchanges last year, is often referred to as "Japan's Bitcoin" on its site. Merchants are charged by Jasmy for use of data stored through them while simultaneously rewarding data owner JASMY. Earlier this month, Jasmy launched a DePIN project labeled Janction which seeks to transform a GPU colony into a public layer-2 as well as an AI service hub. The news led to a dramatic jump in JASMY trading, with a 111% increase over 24 hours, raising its market cap to $1.1 billion. On March 26th, it peaked at $0.024, up from $0.021 the previous day.
Published At
3/26/2024 9:10:00 PM
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