• The tech company Panasonic has partnered with Jasmy, an IoT developer to release a Web3 platform to connect personal data on IoT.
  • Web3 platform will provide secure data storage and give users control over access to their data, as well as improve processing and reaction times.
  • Jasmy has listed its JasmyCoin (JASMY) in 2021, which it is regarded as “billed as Japan’s Bitcoin.”

The tech firm Panasonic and IoT developer Jasmy cooperatively launched a Web3 platform to connect personal data on the Internet of Things (IoT), which will be built upon the Personal Data Locker product developed by Jasmy.

About the new web3 platform

Jasmy, an IoT platform developer, and Panasonic Advanced Technology started working together in February, but they didn’t announce until March 26. The new platform will speed up processing and reaction times, offer safe data storage, and give users control over who can access their data.

This platform emphasizes speed in development while fusing Web3 technology with agile development methodologies. Acccoridng to xxx official “We intend to use the public [platform] in a variety of fields, recruit users broadly, and implement it as an open platform.”

Hiroshi Harada, chief financial officer of Jasmy, said on X, a social media, that the new platform would be developed in “3-6 months.”

The Personal Data Locker, according to the Jasmy website, stores data files in a decentralized network and only manages hash values on the blockchain. Performance is not hampered by large file sizes or single blocks’ storage capacity because of this system.

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More information about Jasmy

Former Sony executives founded Jasmy in 2016, and in 2021 the company listed its JasmyCoin (JASMY) on exchanges. It is described as “billed as Japan’s Bitcoin” on its website. According to its website, merchants pay Jasmy to use their stored data, with JASMY, the data owner, receiving payment in return.

Earlier this month, Jasmy declared the start of a DePIN project named Janction. A GPU colony is to be transformed into a hub for public layer-2 and AI services.

On the news, JASMY’s trading, which has a $1.1 billion market cap, increased 111% in a single day. On March 26, it increased from $0.021 to a high of $0.024.