Dialogue Jasmy: Breaking the Data Economy Dilemma and Achieving Data Value Sharing

Organizer: Qin Xiaofeng, Planet Daily

With the development of the internet, a vast amount of data has been generated, involving every aspect of people's daily lives.

However, traditional data storage has always been controlled by powerful centralized enterprises, and users are unable to enjoy the benefits generated from data monetization. Additionally, with data breaches, user privacy is not guaranteed.

How can we break the deadlock in the era of big data? The privacy protection project Jasmy is dedicated to protecting data that originally belongs to individuals and building a decentralized world of data autonomy.

On January 8, Jasmy CFO Hiroshi Harada and Jasmy Overseas Promotion Director Fan Jia visited the Odaily Planet Daily Super Topic Community to elaborate on "Breaking the Deadlock of the Data Economy and Achieving Data Value Sharing."

Fan Jia stated that traditional data storage and management are conducted in a centralized manner within enterprises, with servers set up internally and management centered around the enterprise. However, by utilizing blockchain technology, decentralized management can be achieved, significantly reducing the risk of massive data and information leaks. But relying solely on blockchain cannot completely solve data security issues; there will still be some security vulnerabilities that need to be addressed with other encryption technologies to further enhance data security.
"For this reason, we integrate blockchain technology into the Internet of Things, with unprecedented innovative ideas that cross industry barriers to provide the most suitable platform for customers worldwide. We started our business from the perspective of manufacturing with unique ideas. By utilizing decentralized management technology led by blockchain, we combine secure data management platforms with the Internet of Things to create the foundation for a new type of business."
The following is a transcript of the community interview:

Odaily: Jasmy is dedicated to protecting data that originally belongs to individuals and building a decentralized world of data autonomy to achieve data value sharing. First, could you please provide a detailed introduction to Jasmy's development stages and goals?

Fan Jia: Jasmy is a platform that aims to protect data that originally belongs to individuals through blockchain and Internet of Things technologies, enabling data security and value sharing.

Our goal in providing the platform is to return the data sovereignty that should belong to individuals back to the data owners, ensuring that every piece of data can be used with confidence. To achieve this, we integrate blockchain technology into the Internet of Things, with unprecedented innovative ideas that cross industry barriers to provide the most suitable platform for customers worldwide. We started our business from the perspective of manufacturing with unique ideas. By utilizing decentralized management technology led by blockchain, we combine secure data management platforms with the Internet of Things to create the foundation for a new type of business.

Jasmy's four development stages

Currently, the project is in the platform popularization phase. We have deep collaborations with large customer service call centers in Japan, well-known consumer electronics brands, and local governments. Some enterprise clients have already entered the final testing phase for commercialization, and this year we will fully implement Jasmy's services. We expect that within the next two years, the number of enterprise clients served will reach 100, and the number of individual users participating in the Jasmy platform will reach 1.5 million; five years later, the number of participating enterprises will reach 1,000, and the number of individual users will exceed 5 million.

At the same time, our project has also attracted attention and recognition within Japan, and we have basically confirmed that we will soon be listed on a virtual currency exchange in Japan.

Odaily: The core team of Jasmy consists of former Sony members. Could you introduce the core team members?

Fan Jia: The main core team of Jasmy has long-term work experience at Sony.

• Chairman Mr. Ando led the businesses of Sony VAIO PC, Xperia, and Sony Life, and has also served as the president of the Sony Group. He is currently actively involved in innovation activities for Japanese enterprises and serves as the chairman of Nagano Prefectural University.
• General Manager Mr. Sato was the main person responsible for marketing at Sony and served as the chairman of Sony Style, responsible for the overall brand image of the Sony Group.
• Deputy General Manager Mr. Yoshida joined Sony as a hardware engineer and served as an executive director at Softbank Mobile, responsible for introducing the iPhone business into the Japanese market.
• Senior Strategist Mr. Morita is a core member of Sony Computer Science Laboratories, proficient in the globally renowned contactless IC encryption technology "Felica." Felica has been used in Japan as an effective encryption technology for the past 20 years without any security incidents.
• CFO Mr. Harada worked as a certified public accountant at KPMG for 11 years, specializing in auditing, finance, taxation, IPOs, and IR-related businesses.

Odaily: How do you view the future development prospects of this project and its sector?

Fan Jia: Currently, there are other projects researching information security storage solutions, but there are relatively few projects like Jasmy that combine blockchain, the Internet of Things, and mature hardware encryption technology. As Jasmy's commercialization applications in some enterprise clients take shape, we believe that Jasmy, with its relevant patents and technologies, will have a promising future development prospect.

Odaily: In the era of big data, various data related to clothing, food, housing, and transportation are closely related to everyone. However, ordinary citizens do not enjoy the economic value brought by this data. Moreover, the continuous outbreak of data leakage incidents reminds us that our privacy rights are constantly being violated. What problems does the current development of the data economy face?

Fan Jia: From a personal perspective, individuals unknowingly provide unnecessary information to enterprises, leading to related privacy issues; at the same time, personal information is not well protected and stored by service providers; even information provided willingly by individuals is not effectively utilized or valued.

From an enterprise perspective, huge amounts of money need to be invested annually in data information management and maintenance; at the same time, different industries have introduced various regulations requiring enterprises to invest more in information security.

Odaily: Blockchain technology is seen by many as a remedy that can truly achieve "giving users control over their data." Could you please explain how blockchain technology can break the deadlock of the data economy? Previously, there have been several projects like Gongxinbao that focused on the concept of "blockchain + data privacy protection," but none have succeeded. Where did the problems lie?

Fan Jia: Traditional data storage and management are conducted in a centralized manner within enterprises, with servers set up internally and management centered around the enterprise. However, by utilizing blockchain technology, decentralized management can be achieved, significantly reducing the risk of massive data and information leaks. But relying solely on blockchain cannot completely solve data security issues; there will still be some security vulnerabilities that need to be addressed with other encryption technologies to further enhance data security.

Odaily: As a project in the same sector, what differentiated advantages does Jasmy have compared to these projects? Additionally, could you elaborate on Jasmy's solutions for privacy protection?

Fan Jia: Jasmy's main advantage lies in its advanced technology in data encryption. As mentioned earlier, most of our team members come from Sony, and we also possess over 20 years of verified encryption technology experience in the Japanese market. By combining Jasmy's unique encryption technology with blockchain, we can further enhance data security, and we have already applied for relevant patents for these core technologies.

At the same time, we have very high-quality and large-scale commercial partners in Japan, ensuring that Jasmy's technology can undergo sufficient commercialization validation in the early stages.

We provide a ready-to-use and convenient IoT integration environment through the Jasmy IoT platform:

- IoT Strategy and Management Support

With the arrival of the IoT era, the focus will be on how to quickly enhance user satisfaction in terms of business strategy setting and operational issue resolution. Jasmy collaborates closely with enterprise clients, providing end-to-end solutions from product planning that can output value through the IoT to the integration of IoT technologies.

- IoT Platform

Jasmy builds an IoT platform with innovative ideas and the latest blockchain technology, enabling secure and efficient data transmission and management within the platform. In addition, Jasmy also provides integrated hardware device management services, allowing users to manage and operate connected IoT terminal devices with confidence while enabling client enterprises to grasp the overall status of device usage.

- Provision of IoT Terminal Devices

In the entire IoT ecosystem, IoT terminal devices that work in coordination with sensors to collect perceived and detected data and receive remote operation commands are essential. Therefore, Jasmy provides enterprise clients with basic modules, including IoT communication modules and wearable devices, along with corresponding product usage licenses. These modules have the necessary functions to build IoT systems without imposing additional burdens on enterprise clients.

- Provision of IoT Service Development Environment

Jasmy provides enterprise clients in various business fields with the development environment needed to realize IoT services. In addition, the company plans to establish a developer community to facilitate the development of various applications in the future, enriching the service content.

- Provision of a Secure Data Analysis Environment

Jasmy will create an environment for client companies to analyze and utilize data obtained from IoT measurements, contributing to the creation of new value-added services. At the same time, by utilizing distributed management blockchain technology, data will be analyzed in a self-directed manner that respects individual rights, differing from existing platforms that centrally manage personal data.

Odaily: The white paper mentions that one of the features of the Jasmy platform is the provision of a "Personal Data Cabinet." Could you introduce its main functions and operating process?

Fan Jia: The Personal Data Cabinet proposed by Jasmy is a locked storage cabinet for safeguarding personal data in a distributed storage system. This Personal Data Cabinet is a distributed storage service based on a P2P network, and its main function is to provide services through "content addressing." That is, the file itself will be stored in the distributed storage system, while the hash value of the file will be recorded on the blockchain, indirectly utilizing the storage method of the blockchain. This way, we can solve issues such as reduced authorization speed due to large files when a user's personal ID is directly stored on our blockchain JasmyNet, and the increased costs of using the blockchain. Each individual's data and information will no longer be stored by enterprises or service providers but will be kept in a data cabinet that belongs solely to the individual.

Odaily: The "Personal Data Cabinet" is supported by two major technologies: Secure Knowledge Communicator (SKC) and Smart Guardian (SG). Could you introduce the innovations and advantages of these two technologies?

Fan Jia: SKC serves as a means to protect our Personal Data Cabinet and can achieve the following functions:

• User identity verification function before starting to use platform services (personal identification and authentication: Know Your Customer, hereinafter referred to as "KYC") and registration function.
• Allows users to connect, manage, and store personal data with JasmyNet according to their own will, authorize data provision, and track functionality.
• Allows enterprises or organizations to receive user data and authorization without always maintaining identifiable specific information, but only utilizing necessary information appropriately as needed.

The personal ID created by SKC can be easily and securely registered for IoT devices in a distributed network while providing an environment for device owners only. SG is the main means of protecting IoT device information, and its functions include:

• Binding registered devices in the network to their owners without the need for SKC for personal identification or authentication (Know Your Machine, hereinafter referred to as "KYM").
• Allowing devices to securely send and receive commands, enabling the data collected through sensing to be sent, received, and remotely operated according to the owner's commands.
• Because it uses a unique blockchain and distributed storage system, it has the capability to allow only the owner to securely store, manage, and use the data generated by the device.

Odaily: Currently, what applications and partners does Jasmy have? How have these partners contributed to the project's development?

Fan Jia: Here are some areas and cases of Jasmy's service applications:

1. Jasmy developed a high-security PC for the large Japanese customer service call center Transcomos, utilizing blockchain technology, a blockchain-based call service application software, and Jasmy's SKC service, helping 20,000 call center agents work efficiently from home during the COVID-19 pandemic. The overall project is currently in the final stage of commercialization testing, and this business will soon be fully promoted to all 40,000 call center agents at Transcomos.

2. Due to Japan's high security requirements for hardware devices used by financial service institutions, including computers, Jasmy has developed a high-security computer in collaboration with Sony VAIO, which will be widely used in banks and other financial institutions. The product combines blockchain technology and Jasmy SG services, achieving a secure usage environment that can only be accessed by the device owner through biometric technology and personal passwords. This allows professionals in the financial industry to easily work remotely, and the risk of data information being stolen or attacked is greatly reduced due to the blockchain-based distributed storage technology.

3. Jasmy collaborated with Japanese automobile manufacturers and mobility service companies to create a platform for recording tourist data for the Hokkaido local government, which will be used to promote Japan's first large-scale pilot project for autonomous driving and supporting facilities in the region. The platform can help the government collect and store relevant data from users of autonomous vehicles, avoiding personal information compliance issues in Japan. At the same time, the platform records various behaviors of tourists, such as modes of transportation, duration, distance, shopping consumption, and dining; the relevant data can be provided to local merchants, service providers, and municipal departments for new value creation based on different categories.

4. We have reached an agreement with a domestic company in Japan that possesses cutting-edge technology in regenerative medicine and cell culture to conduct joint research and testing on the safe management methods of personal genetic data.

5. We have reached an agreement with a restaurant company that has 50 chain stores in Japan to provide solutions for building a platform that does not carry customer information.

Odaily: In the Jasmy ecosystem, the token Jasmy Coin has been introduced. Could you explain the functions and issuance status of Jasmy Coin? What rights do users have by holding Jasmy Coin?

Fan Jia: In the ecosystem we envision, enterprises need to purchase Jasmy Coin in the market to exchange for related services. At the same time, individual users can receive corresponding Jasmy Coin rewards by providing personal information to trusted enterprises, and they can use these Jasmy Coins to exchange for corresponding services and products from service providers that have joined the Jasmy ecosystem, thus fully realizing the value of their personal data.

Odaily: Could you share Jasmy's next development plans and the plans for Jasmy Coin?

Fan Jia: Jasmy will further expand the number of enterprise clients and individual users in the next five years and continuously increase the size of the community. We have already signed contracts with several enterprise clients, including publicly listed companies in Japan.

We will announce information about business expansion and token value increase through press releases, but there will be no additional sales in the future. Therefore, for new investors, we will invite them to trade and purchase in the market (exchanges).

We have announced that we will officially launch trading on MXC (Matcha) on January 10, and there will also be clear plans for listing on other mainstream exchanges; in Japan, we will soon launch on domestic virtual currency exchanges.

Odaily: Data companies in China may face regulatory risks, and several projects have been investigated previously. How does Jasmy respond to regulation?

Fan Jia: Yes, as a Japanese company, we pay special attention to the risks of laws, regulations, and supervision. Jasmy has hired lawyers from "Nishimura Asahi Law Firm," the largest law firm in Japan, who are proficient in the fields of Fintech, finance, and patents as our legal advisors, and we strictly adhere to the regulations of different global markets to advance our projects, thereby avoiding various regulatory risks.

Odaily: The future development of the cryptocurrency industry should shift from virtual to real, empowering the real economy, or focus on the development of the digital economy? How should this be achieved?

Fan Jia: Jasmy will focus on both points.

First, our services are aimed at the real economy, helping enterprises enhance data security and effectively reduce the costs of information data management;

At the same time, the ecosystem we create promotes the development of the digital economy, allowing individual users to freely share their personal data with trusted brands and service providers to facilitate better service provision. In return, individual users can receive rewards in digital currency, which can be used as a tool for exchange to obtain desired services and products. All of this is made possible by the encryption technology of personal information.

Community Question 1: Are the Secure Knowledge Communicator (SKC) and Smart Guardian (SG) technologies developed by the project itself?

Fan Jia: Yes, these are technical concepts proposed by Jasmy based on the experience of our team members.

Community Question 2: What breakthroughs will Jasmy's partner fields have in the future?

Fan Jia: As mentioned in my previous answer, we will mainly focus on the construction of the IoT platform, and the fields and industries of our partners will also be quite broad.

Community Question 3: As an IoT platform, what similar projects or companies in your country compete with you, and what advantages do you have to ensure strong competitiveness in this sector?

Fan Jia: Currently, there are relatively few companies in the Japanese market that combine blockchain + IoT and related encryption technologies. Our competition mainly lies in technology and commercial resources, and we are currently applying for relevant patents, which will further help us ensure our competitive advantage.