In a significant move for the Web3 space, Panasonic has partnered with the Jasmy blockchain to unveil a new Internet-of-Things (IoT) platform. This collaboration aims to revolutionize the way personal data is connected across IoT devices.
Panasonic and Jasmy's Innovative Web3 IoT Platform
The partnership between Panasonic and the Jasmy blockchain, which began in February, has culminated in the launch of an innovative Web3 IoT platform, officially announced on March 26. The platform leverages Jasmy's Personal Data Locker to offer a secure and user-controlled data storage solution, promising to improve data processing and responsiveness.
The focus of this platform is on speed and agility, utilizing Web3 technologies to create an open ecosystem that can be applied across various industries. The goal is to attract a wide user base and encourage widespread use.
Development Timeline and Technical Insights
Hiroshi Harada, the CFO of Jasmy, indicated on social media that the decentralized personal data platform is slated for completion within the next three to six months. Jasmy's website details that the Personal Data Locker will manage hash values on the blockchain, while actual data files will be stored on a decentralized network, ensuring system performance is not compromised by block storage capacity or file size constraints.
Jasmy's Market Impact and Future Prospects
Since its inception by former Sony executives in 2016, Jasmy has been a notable player in the cryptocurrency market, especially after listing its JasmyCoin (JASMY) in 2021. Often referred to as "Japan's Bitcoin," Jasmy operates a unique model where merchants pay for access to data on the platform, and data owners are compensated with JASMY tokens.
Following the announcement of Panasonic's partnership with Jasmy, the JASMY token experienced a 3% increase in value over the last day, with trading volumes skyrocketing over 100% to $256 million. Over the past month, the token has seen a substantial rise of 42.8%.
