MEXC AMA Session with Mr. Harada from Jasmy
Guest : Mr. Harada, CFO of Jasmy
I’m Hiroshi Harada, the CFO of JASMY. You may also know me as HARA and I will be the main speaker today.
Questions from community:
Iris: Can you please give an introduction of JASMY to our community?
Mr. Harada: JASMY is an IoT platform company on a mission to provide the infrastructure which allows anybody to use data safely and securely.
We are currently developing and providing the “JASMY Platform” to achieve this.
The JASMY Platform aims to regain data sovereignty for each individual so that everyone can use his or her data safely and securely.
To achieve this, we have combined Blockchain and IoT technology to provide the optimal platform solution for customers around the world, and across industries.
We founded the concept “Decentralized Data Democracy” whereby our idea is to provide a platform where each individual can manage and control their data based on their own judgement under secure and safe conditions.
This includes giving permission of use to others without stress or fear. With the JASMY Platform, we will strive to realize a society where both personal data protection and utilization can be achieved simultaneously.
Our current service plan is to serve 50 corporate customers over the next two years, with 1.5 million individual users joining the JASMY platform and 1,000 participating companies in five years.
We have set a goal of exceeding 100 million individual users
JASMY’s core team is mainly created by the members from ex-Sony.
Here is a brief introduction to the core team.
Representative Director Kunitake Ando was the 7th president of Sony Corporation.
He has launched VAIO, Xperia (smart phone), created Sony Life Insurance and laid the foundation for the expansion to the current scale.
Besides the activities to create eco-system for innovation for Japanese companies, he is also the Chairman of the University.
President & COO Kazumasa Sato has built a career centered on marketing at Sony.
He had been deeply involved in the IT network business as a representative director of Sony Style and also the branding of the entire Sony Group.
Executive Vice President CTO Masanobu Yoshida started his career at Sony as a developer and video camera engineer.
Later on, he was responsible for cell phone development and the PDA business, which was the predecessor of today’s smartphones.
PDA was loved by customers worldwide with the CLIE brand.
CFO Hiroshi Harada has built an 11-year career at KPMG as a CPA.
In addition to accounting, finance, and tax, I am also versed of IPO and IR. I am responsible for building the token ecosystem, marketing, and listings.
Please click on the link to see the details.
thanks for your detailed introduction Hara. and Jasmy has a really experienced team 👍👍👍
Iris: Can you provide a more in-depth explanation about the technicality of JASMY?
Mr. Harada: Sure, you can refer below for our core services.
To enable the personal data lockers that JASMY platform users have, we have two Core technologies that we call SKC (Secure Knowledge Communicator) and SG (Smart Guardian).
With these technologies, users can manage their data while keeping their data safe and secure.
Both of these patents have been submitted.
As for our platform business model, JASMY will provide platform services to users.
Here, users will have an infrastructure called Personal Data Locker.
This creates an environment where users can attribute their data to themselves and decide for themselves what to do with it.
Service providers will be able to offer products and services without having user information.
By using the service, fresh data generated by IoT devices and other devices will be stored in the “Data Locker,” and service providers will be able to promote new businesses by utilizing this data.JASMY receives appropriate remuneration from the company in return for providing the platform.
Get more information about SKC and SG in our English home page:
Find out more details in our English Whitepaper:
to interrupt this for a sec — I’ve got a few DMs just now asking questions on Jasmy. Thanks for your interest and please be patient — we will have a free-asking session later.
Iris: Can you share an example on the service?
Mr. Harada: JASMY is developing a Personal Data Locker using KYC and KYM, which allows users to manage their own data, like a wallet or a safe deposit box, and to use it freely.
In addition, by using JASMY’s original distributed management technology, data cannot be tampered with or stolen, and the process of data usage can be tracked.
For example, by allowing users who contact the call centre for technical help to record their hardware and network information in a personal data locker and disclose the information in the locker to the person making the inquiry, we can avoid multiple user information calls, prevent leakage in the process, get a direct response from the manufacturer, and improve the quality of the response.
In addition, with personal data lockers, call centres do not need to keep excessive records, thus ensuring optimal information management and smoother, higher higher-quality responses in compliance with GDPR.
Second, JASMY describes a visible blockchain future by promoting the concept of platinum data.
Compared to big data, it is based on the concept of effectively utilizing individual information data, which is also called the “small data”.
JASMY thinks that it is not only necessary to explore the development of the “small data” model, but also to use this model to assist users in making better decisions when encountering difficulties in various daily life scenarios and key solutions.
This data has extremely high social value, therefore, JASMY also named this concept “Platinum Data”.
Get more information about KYC and KYM in our English white paper: https://www.JASMY.co.jp/images/whitepaper20200618_eng.pdf
For “Platinum Data” please click on these links：
Iris: What is the tokenomics of JASMYCoin, do we have any plan to further increase the value of JASMYCoin in the future?
Mr. Harada: Here is our token economy model that combines business models.
The features of JASMYCoin are:
i. Investors purchasing for capital gains in the market, and
ii. Companies using for business demand.The main use of JASMYCoin is that company can pay individuals JASMYCoin as reward for acquiring personal data, especially the personal data generated from IoT devices.
With the increase of partnering companies, the scale of our platform will continue to expand.
This will lead to the volume and the value of personal data owned by each individual to increase as well.
For the companies who are using JASMY’s services, the price liquidity of crypto currencies will have no impact on the financial reporting.
JASMY generates revenue from providing its platform as a service to companies.
Companies have the advantage of being able to develop their businesses regardless of token price movements.
On the other hand, JASMYCoin makes the accumulated personal data available in case they want to use the data stored in personal data locker generated from their services.
JASMYCoin is the only valid currency for the value of personal data on our platform.
Please click on the link to see the details.
Iris: Is there any updates you would like to highlight to us?
Mr. Harada: Indeed, we would like to invite everyone to our official telegram group, the Official JASMY Universe.
JASMY Universe aims to gather all our active users and of course our JASMY holders to discuss, get the latest update and reaching to our team moderators for any support or enquiries.
Here is the link for JASMY Universe — https://t.me/OfficialJASMYUniverse
On top of that, here is our official links for other social media:
🔹 Official Web Links
Website — https://www.JASMY.co.jp
Twitter — https://twitter.com/JASMYMGT
Twitter — https://twitter.com/JASMYMGT
Reddit — https://www.reddit.com/u/JASMY-MGT/
In addition to this, there are a few highlights of the year that we would like to announce.
We are proud to announce that Jasmy (JMY) has become the first Japanese blockchain project approved to be listed on the Japanese digital currency exchange.
Iris: well done 🥳🥳
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Mr. Harada: I think this is [Data democratization].
The reason for this.
The big wave of the Fourth Industrial Revolution:
Now that the “big wave” of the “Fourth Industrial Revolution” has begun to swallow the world, all goods, people and services are connected via the Internet and continue to expand into all areas of our lives.
From this “big wave”, new goods and services such as sharing economies like car dispatch services, automatic driving and robotics industry using AI, as well as checkout-free unmanned convenience stores are born.
Platformers who monopolize information:
Many of today’s network services are provided by giant platformers such as GAFA (Google, Apple, Facebook, Amazon). In return for using the service for free, we pass personal data such as behavior history which we as users should own, to the platformer.
In such a way, a large amount of data exchanged from service contacts such as communication networks and applications are exclusively collected by the platformer’s centralized system, managed and analyzed, and used for various purposes.
Who owns our data?
However, there have been numerous incidents in which data that,we believe, should be managed safely is quite easily leaked due to cyber-attacks, system defects, and human mistakes.
In addition, there have been cases where data tracked, collected and analyzed from networks is misused to deliver ads or clever contents that can lead you to websites you didn’t originally want.
The fast-growing giant platformers are now at a major turning point in their strategies
The basic idea of “DATA DEMOCRACY”:
Our basic idea is to return personal data to the hands of the individual it belongs to, and to realize “democratization of data” that is distributed and managed in a secure way.
The “Jasmy IoT Platform” will be developed based on this idea. Based on a solid relationship of trust between companies and customers on the platform, we will create an environment where data can be exchanged securely as valuables, and build a new era of information, a “new era of user-oriented information”.
We are confident that we will create a new IoT business model together with you on this platform and help Japan lead the world again in this “new era of information”.
Q1. Japan’s Personal Information Protection Law will be amended in April 2022. Do you think this law will benefit Jasmy’s business?
Of course, I strongly believe that.
Japan has had many accidents involving leaks, and I believe that the standard of handling for personal information is still very low.
With the enforcement of the law, companies and others will feel the need to do so.
Jasmy’s service has applied for an international patent, so it provides an infrastructure that is capable of complying with privacy laws around the world.
Q2. Can you burn some token from the supply?
Our tokens are not a burn system, but a mechanism to control the amount in circulation through the Jasmy Initiative’s HODL.
Q3. Good day Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
We are about to launch a token on the platform. Our tokens will be used in the near future as compensation for providing data. We are working with blockchain and AI companies on a daily basis on the content that our edge AI will value and enhance.
JASMY will be the right to award this value, and those who HODL more for longer will be granted a distribution interest by more data.
We also plan to have our own ownership rights.
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