Comprehensive interpretation of Jasmy ecosystem

I. Building a data ecosystem

Personal data cannot be applied properly because it is over-protected. The information utilization within enterprises is mainly vertical integration, and there are still many problems on how to break the barriers between enterprises. And our core services SKC and SG can provide appropriate solutions to complicated personal data problems.

Based on this premise, we believe that it is very important to create a virtuous circle ecosystem that can benefit both individuals and enterprises through data exchange. Through this system, the security and effective utilization of personal data can be improved. Companies can also reduce the number of working hours and related expenses of information management. By an effective reward system, individuals can be more willing to contribute to the data provision for utilization, and enterprises can make better products and provide better services by applying relevant data.

II. Forming an expandable ecosystem. While using the core technologies SKC and SG, we actively import IoT machines and new solutions with the member enterprises of the Initiative Group to attract the end users of the platform. With the application on the platform, enterprises can flexibly use blockchain technology to provide new solutions and reduce labor costs and server usage fees.

In addition, individual users can also get reassuring services from enterprises. By establishing a structure that benefits both enterprises and users, the number of personal data cabinets can be greatly increased in terms of geography, age and gender.

As the number of enterprises involved in the platform increases, the number of individual users will expand through these enterprises. The data of these individual users are stored in the personal data cabinet based on blockchain, and users can decide the use range of these data by themselves.

Enterprises will provide their own services in exchange for the authorization of these personal data. The usage and consideration of data are clearer, which makes users more willing to provide data and facilitate them to decide the use scope of data. With this mechanism, enterprises can share data across enterprises as long as they pay reasonable consideration. Since the right to use data is returned to individuals, it is possible to flexibly use the data among centralized enterprises, which was relatively difficult, so it can be speculated that the number of enterprises participating in the platform will greatly increase.

III. Advantages of Jasmy ecosystem

In the electronic environment, individual users, while enjoying the convenience brought by IoT devices, also become the data producers of all aspects related to their living environment. We believe that the owners of such information should be the individual users themselves, not the centralized enterprises.

Therefore, we hope to establish an environment through Jasmy ecosystem, in which data producers can choose who to provide and control the provision status. Enterprises that obtain high-accuracy data can create unprecedented innovative products and services through more accurate and detailed business analysis, and increase the number of customers and sales.

With the continuous infiltration of such environment in society, users who enjoy the benefits of new products and services will save the correct information in their personal data cabinets in order to receive more rewards from enterprises. In order to make better use of these data, enterprises need to be more honest in explaining and reporting the use of the data, so the degree of understanding of the data will be more correct, and their contribution to society and ethics will be related to their business results. A virtuous circle is formed by promoting Corporate Social Responsibility (CSR) through the ecosystem, which in turn greatly expands the quantity and quality of data collected.

IV. Indispensable element of building an ecosystem: reward system

To build a sound data ecosystem, an effective reward system is indispensable. Just like centralized enterprises, which are very common all over the world, they collect personal data in a centralized way, and make use of them, so as to obtain huge benefits. Personal data is regarded as a new resource like oil. Enterprises that use personal data as a new resource can offer proper consideration (reward) to each data producer, which is a fair economic environment.

In JASMY platform, enterprises need to provide rewards as consideration to obtain personal data while defining the scope and purpose of use. The award must be able to be effectively valued. Individuals can learn about the value of their own data through this reward, which will also stimulate the enthusiasm to provide data. This reward is related to both the quality and quantity of data, and the producers of personal data will have a higher understanding of the value of their data in order to get higher rewards. Through the process of autonomous application of data within the platform, it is reasonable to believe that people will develop an awareness of the value of personal data, further understanding of the economic circle, and further collecting and applying data.

About Jasmy

Project name: Jasmy

Official website: https://www.jasmy.co.jp/

Project brief: Jasmy is a company that develops and provides data security and sharing services in the IoT era — “Jasmy Platform”. We are committed to protecting the data originally owned by individuals and building a decentralized autonomous world, so as to realize the sharing of data value.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Jasmy

Jasmy

80K Followers

We aim to realize a Data Democracy by building a decentralized, democratic world where data is protected as inherently owned by each individual.