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Panasonic and Jasmy Collaborate to Develop a Secure IoT Identity Platform

Mar 27, 2024 at 12:01

Panasonic and Jasmy have joined forces to introduce an innovative platform aimed at managing personal data within the Internet of Things (IoT) ecosystem. This collaboration will leverage Jasmy’s Personal Data Locker technology to establish a decentralized data storage solution.

The partnership between tech leader Panasonic and IoT platform developer Jasmy was initiated in February and officially disclosed on March 26th. The forthcoming platform will prioritize user data security and control while enhancing data processing efficiency and responsiveness.

The development approach integrates agile methodologies with Web3 technology, emphasizing rapid deployment and widespread adoption across various sectors. Hiroshi Harada, the CFO of Jasmy, also known as Hara on social media, projected a development timeline of 3 to 6 months for the platform.

According to Jasmy’s website, the Personal Data Locker ensures data integrity by storing hash values on the blockchain while distributing data files across a decentralized network. This design effectively overcomes storage limitations and accommodates large file sizes without compromising performance.

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Established in 2016 by former Sony executives, Jasmy introduced JasmyCoin (JASMY) on exchanges in 2021, positioning itself as Japan’s equivalent of Bitcoin. Merchants pay Jasmy for utilizing stored data, rewarding data owners with JASMY tokens.

Jasmy recently unveiled the Janction project, aiming to transform GPU clusters into a public layer-2 and AI service hub, dubbed DePIN.

Following the announcement, JASMY trading surged by 111% within 24 hours, reflecting investor enthusiasm. The cryptocurrency reached a peak of $0.024 on March 26th, up from $0.021 the previous day, with a market capitalization of $1.1 billion.

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