Q&A: Jasmy’s CFO, Hiroshi Harada on JasmyCoin (JASMY) and the Company’s Future

JASMY and its token, JasmyCoin have big plans for the future.

The Jasmy Platform was founded in Japan as a decentralized way to deal with the problems related to the centralized custody of consumer data. Its mission is to develop an Internet of Things (IoT) ecosystem that gives businesses and users alike the ability to freely and securely share and monetize their data on their terms.

JasmyCoin (JASMY) is an Ethereum-based token that serves as the primary payment currency within the Jasmy platform. Users receive JASMY for sharing their data on the Jasmy marketplace. Founded in Japan, the platform has the unique designation of becoming the first legal and compliant crypto asset issued by a Japanese company and the first domestically issued cryptocurrency listed on a Japanese crypto exchange.

In May 2022, JasmyCoin (JASMY) was also featured as a new listing on Binance.US. Since then, we’ve sat down with Jasmy CFO, Hiroshi Harada to learn more about the platform, the token, and his plans for the exciting future of all things Jasmy.

Note: The opinions expressed below do not necessarily reflect the views of Binance.US. The commentary provided here is for general informational purposes only, and does not constitute financial investment, tax or legal advice.

Where did you work before Jasmy? Have you worked on any blockchain/crypto projects in the past?

Before joining the team, I specialized in audits and IPO at KPMG as a Japanese CPA. I got into the blockchain/crypto space after joining JASMY.

How did you and the team get into the blockchain/crypto space?

Our team’s background and strengths are in security, PC-based networks, and devices such as FeliCa — one of the earliest mass adoptions of NFC-based payment technology. Encryption, decentralization, and anonymity through privacy-enabling technologies had been at the heart of our past projects, so, naturally, we adopted blockchain/crypto as a pillar of our business.

Where & when was Jasmy founded?

Jasmy was established on April 5, 2016, in Tokyo. The global trend was GAFA centralization and big data. We predicted that decentralization would surely come next, so we started our own company with like-minded members.

What is the purpose of the Jasmy blockchain? What problems does it seek to solve?

When everyday devices and services are connected to the Internet, fundamental human needs and necessities such as clothing, food, housing, and transportation will change drastically. In such a world, the flow of data will be even greater than that of today. Jasmy’s mission is to create a mechanism/platform which allows all users to take ownership of their own data in a secure and private manner. Instead of letting a handful of big tech corporations take control of such sensitive data, Jasmy aims to help enable a world where everyone can feel safe and secure about the use of their own data.

How does Jasmy help solve traditional data storage problems?

Jasmy is constantly exploring ways to uniquely combine Blockchain and IoT technology to provide the optimal platform solution for customers around the world and across industries. We are currently working on a file storage solution that allows the user to access their own data in a passwordless manner, without any superuser in the middle. We hope to reveal more as development progresses.

What types of data is Jasmy able to store?

All types of data can be stored in our solution. It is not specific to a particular data type.

What types of dApps & projects can be built on Jasmy?

Anything that can be built on Ethereum chain can be built on Jasmy.

What is the difference between Jasmy NFTs & NFTs hosted on other Blockchains?

There are no fundamental differences technically, as the Jasmy platform is built based on the ERC 721 spec. On top of this, Jasmy has added its unique extensions to offer more features.

Do you have plans to make Jasmy NFTs available on marketplaces such as Binance NFT, OpenSea, & Magic Eden?

It is certainly possible and we are exploring the idea. Nothing has been decided at the moment, however.

Do you have plans to build your own NFT marketplace?

We do not have any specific plans at this moment, although this is another possibility.

What is the utility of the JASMY ERC-20 token?

Governance, Metaverse Utility, Data Access, etc.

What does it mean for Jasmy to be the first blockchain approved for listing on the Japanese digital currency exchange?

Crypto is regulated heavily and governed under strict rules in Japan. Being listed on the Japanese digital currency exchange is great encouragement and validation for us in advancing towards our goals.

What are some of the most exciting updates or developments coming in Q3?

As we announced on July 2, we are developing fan tokens for SaganTose, a professional soccer club that Jasmy sponsors. It will be the first step of the Jasmy Fan Token Platform. We believe that would be an exciting part of the Jasmy ecosystem.

Next, we are developing DD coin, the Japanese Yen-backed stable coin we will use in the Jasmy ecosystem. It’s crucial because the new reward system to promote data utilization relies on it. DD coin will be able to provide stable value for user data and help with regulatory compliance.

We are also working on what we call the Platinum Data Happiness Discovery Project. It is a project to work with users to identify which data is closely tied with the user’s happiness, using AI based analysis. For their participation, users are rewarded with Jasmy tokens. Currently, we only have Japanese participants in the trial, but hope that one day we would be able to launch this project in the US and other countries.

Where can people go to learn more and stay up to date on Jasmy announcements/developments?

Please stay tuned with our official website and global website. Follow us on Twitter @HARA_JasmyCFO and @JasmyMGT for daily updates.

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