Panasonic has entered into a strategic partnership with IoT platform developer Jasmy to launch a pioneering Web3 platform, utilizing Jasmy’s Personal Data Locker to revolutionize how personal data is managed across the Internet-of-Things (IoT).
This collaboration, announced on March 26 following the commencement of their efforts in February, aims to deliver a decentralized data storage solution that empowers users with control over their data while enhancing data processing and reaction speeds.
A Focus on User Empowerment and Agile Development
The initiative seeks to merge agile development methodologies with the cutting-edge capabilities of Web3 technology.
The partners are committed to establishing the platform as an open ecosystem, inviting broad user participation and targeting a diverse array of applications.
“We will implement the public [platform] as an open platform, recruit users widely, and aim to use it in a wide range of fields,” the partners stated.
Jasmy’s CFO, Hiroshi Harada, known as Hara on social media platforms, indicated that the development of the new platform would span “3-6 months,” signaling a swift timeline for bringing this innovative solution to market.
Technical Innovations Behind Personal Data Locker
The Personal Data Locker, at the heart of this partnership, employs a novel approach to data management.
It maintains only hash values on the blockchain, while actual data files are stored within a decentralized network.
This design addresses the challenges of block storage capacity and large file sizes, ensuring optimal performance and scalability.
Founded by former Sony executives in 2016, Jasmy has been a forerunner in the IoT space, introducing JasmyCoin (JASMY) in 2021 and positioning itself as “Japan’s Bitcoin.”
The model incentivizes merchants to pay for access to data stored by Jasmy, rewarding data owners with JASMY tokens in return.
Expanding the Jasmy Ecosystem
In addition to this collaboration with Panasonic, Jasmy recently unveiled the Janction project—a DePIN initiative aimed at integrating a GPU colony into a layer-2 public blockchain and AI service hub, further expanding its ecosystem and utility.
The announcement of this partnership has had an immediate impact on the market, with JASMY experiencing a surge of 111% within 24 hours, peaking at $0.024 on March 26.
This momentum underscores the market’s optimistic response to Panasonic and Jasmy’s joint venture, highlighting the potential of their Web3 platform to set new standards in IoT data management and security.
