JASMY has issued a cryptocurrency to democratize data. What will the future of JASMY look like?
Today, Hiroshi Harada, CFO of JASMY, revealed a series of preparations of JASMY before its launch on crypto asset exchanges, and the future vision of JASMY.
Towards World-Class Cryptocurrency Exchanges
Amid the headwinds from crypto asset development in Japan, JASMY focuses on overseas cryptocurrency exchanges in order to issue JMY as soon as possible. Mr. Harada recalled, “At that time, it was extremely difficult to conduct ICOs overseas due to rampant fraud and money laundering. However, ICO is possible once you are accepted by an overseas cryptocurrency exchange. To achieve this goal, we have been preparing for the listing since January 2020.”Mr. Harada added, “If JASMY can be listed on all cryptocurrency exchanges, JMY will see an increase both in quantity and value as the community of users on each exchange grows. It’s been a long process, but we’re ready to make it happen.”
All-out Efforts for Tangible Achievements.For a successful launch, JASMY has undertaken the following work:
1 Drafted the white paper and built the JMY system.
2 To ensure that JMY transactions run smoothly without any security risks, JASMY carried out several rounds of tests.
3 Crypto assets management requires building a community and gaining more like-minded followers who share JASMY’s vision.
4 Japan currently has the world’s most progressive regulatory climate for cryptocurrencies. Therefore, JASMY has to follow many Japanese laws in terms of its operations. It is important to do so without violating the regulations of the Financial Services Agency (FSA) of Japan, and at the same time to be able to be listed overseas successfully. JASMY clarified all regulatory issues and risks by working in depth with leading law firms.
After completing these steps, JASMY was finally successfully listed on the MEXC exchange in January 2021. In October 2021, JASMY became the first Japanese company to be listed on Coinbase, one of the world’s largest cryptocurrency exchanges. At the end of October, it went on to be listed on Bitpoint Japan, a Japanese cryptocurrency exchange. Mr. Harada also mentioned that after being listed on Coinbase and Bitpoint Japan, more and more companies came to inquire, and in the future, as Jasmy’s commercial projects get off the ground, data democratization will be recognized by more people, and accordingly more people will buy JMY which will render its circulation volume to become even larger. Someday, when JMY becomes the mainstream coin of cryptocurrency, all efforts of JASMY will be worthwhile.
JMY’s Path to the World
The goal of JASMY is to make all users aware that user data is valuable, and in order to achieve this goal, JMY needs to be widely disseminated to raise public awareness.The key to this is to let users enjoy the rewards earned by sharing data. “We are currently developing an application that will enable unconscious characteristic data related to people’s interests and behavior to be attributed to individual users in a secure manner and to be used appropriately,” said Mr. Harada. “First, we want to conduct an experiment where participants can receive JMY as a reward if they agree to make effective and shared use of the feature data accumulated during the experiment.”To facilitate the wide circulation of JMY, participation from both individual users and institutional users is essential. According to Mr. Harada, “JMY is based on the Ether standard, and we want to build an alliance around JMY to promote its circulation among participating companies, organizations and individual users. JMY is similar to a regional currency. In order to make JMY more usable, we have to add more places where it can be used. To achieve this goal, JMY is seeking partnerships with a variety of companies and organizations.”In addition, in order to create an environment where anyone can freely hold and use cryptocurrencies, jasmy aims to establish a Stablecoin system that is fully pegged to the Japanese yen. This allows JASMY to be freely convertible with the Stablecoin.
In Japan, cryptocurrencies have always been considered to be highly “speculative”. Due to the strict regulation in Japan, Mr. Harada expressed a strong sense of crisis about this, “The development of cryptocurrencies in Japan has lagged far behind the rest of the world.” Because of this, he added, “It is my hope that the issue of compliance can be gradually addressed in order for cryptocurrencies to be recognized by the world. JASMY, which has a physical entity and products, can certainly achieve this goal.”
Data is dubbed the “oil of the 21st century”. The grand blueprint for empowering data with more value while ensuring data privacy has just begun. We look forward to the future of JMY.
「データの民主化」を実現するために暗号資産を発行する。ジャスミーが描く未来とは | xDX
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