Know more about JASMY — free questions answered by JASMY CFO Harada-san(Part2)

Q: Please explain why JASMY is now called JMY?

A: In the exchange Bitpoint generally uses 3 letters to represent all tokens.

In fact, we first submitted an application to the Japanese exchange and then applied to the Global exchange, so it can be unified as JMY.

After so long, JASMY was finally successfully listed in Japan.

Q: Is it possible for JASMY to be used in smart homes and smart cities developed by leading construction companies?

A: We hope that business cooperation can be carried out in terms of technology and tokens.

The concept of a smart house is that you do not need to move furniture when you move, you only need to move you and your data. In order to achieve this vision, we plan to expand the data utilization model and heading to the said direction.

Q:As a token economy, how to deal with erc20 transfer fees?

At CoinMarketCap, the number of wallets is a measure of the scale of a project, and we also realize that this is the problem with Ethereum GAS.

We are considering two measures to solve these problems.

First, the token rewards generated in the exchange and sharing of data circulating on the platform can be freely exchanged into encrypted currency JASMY. So that the tokens themselves can circulate freely. This aspect is actively preparing for the implementation of the data cabinet project.

Secondly, we plan to develop various measures to increase circulation by bridging with other blockchains.

Q: Do you pay taxes?

All the other Japanese projects we are talking about are projects initiated by Japanese in Singapore and other countries overseas.

We are a Japanese company that carries out business activities in Japan, so we are obligated to pay taxes on the profits we obtain.

We have a clear business vision: to create innovation in Japan. In this regard, we believe that we are completely different from previous Japanese crypto asset projects.

Q: I may have a wrong perception of tokens. I think tokens are mainly used as rewards, not for the data locker system itself. Is this understanding correct?

There is a challenges with the cryptocurrency: it is difficult to treat its value as a right.

The data locker is just an infrastructure for storing data.

Individuals can transfer or lend their personal data to other companies for any reason. At this time, the data itself is valuable. Have you ever imagined such a future: the value of personal data can be proved by means of encrypted assets, such as lifetime value? We hope to take some measures to make this future a reality.

Q: Is it possible for JASMY to enter the of the metaverse?

Since after Facebook has renamed itself Meta, metaverse is now become a global trend. Of course, JASMY is part of the blockchain in the digital world, and we have no reason not to enter the metaverse field.

Q: How is the progress of JASMY goods?

We are preparing to add it to CoinMarketCap, including the enrichment of its content. Please stay tune.

Don’t miss our in-house AMA in JASMY Universe on December 3 #jasmy

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