"JASMY AMA - My Thoughts" [r/JasmyToken 1 mo. ago Icy_Amphibian_JASMY MOD DD]
#JASMY Community, here are my thoughts on the recent AMA. Overall, it was a great introduction to Jasmy technology for new investors, but I will only cover points that I found significant. I will list the points and preface my comments with 🥶.
Point 1:
"By using and commercializing licenses held by Jasmy:
Individual users can deploy distributed databases that hold information and provide it to companies, etc. for a fee. (The risk and cost of building a DB can be greatly reduced.)
Company's internal data (e.g., PC usage, internal chats, etc.) can be used after the data is automatically and correctly recorded and stored, with personal information and confidential information abstracted and anonymized. (Accurate information and traceability can be ensured through raw data)"
🥶We have discussed the second part of this point many times; personal data being recorded, stored, abstracted, and anonymized. This is the technological backbone of the Personal Data Market and it has been described in detail in the issued patents.
🥶 We have not discussed the first part of this point. Most data providers are some type of organization, like companies and universities, but it is possible to be an individual data provider. With JASMY technology, I could see individual users providing trusted and verifiable data to the network using JASMY compatible sensors. Imagine providing data to the JASMY Network with your smart devices like home weather sensors, vehicle sensors, smart cameras, smart glasses, home appliances... all of your smart devices can turn you into a real-time verifiable data provider, turning every sensor into an individual data point that AI can organize into refined Platinum Data.
🥶 Check out this very long list of data categories:
https://datarade.ai/data-categories
Point 2:
"#JasmyLab is a company with a mission to take the Jasmy license and deploy the technology globally with a team of crypto natives, and to actually develop the
technology into an open source service to meet the needs of the companies and clients I work directly with. I will be working with a team of crypto natives to develop this technology globally."
🥶 The key word here is to take licensed Jasmy technology and develop it into an open source service. This is very good, because having an open source for enterprises to build upon and customize is key for expanding Jasmy Network, while maintaining the security and privacy of the Main (proprietary) Net.
Point 3:
**"**Companies that have built their business models on platforms have focused on collecting and holding their own data. This is much like buying a book and displaying it on the company's bookshelf."
"GDPR and privacy laws require a very high level of security to maintain the bookshelves, and a lot of money must be invested to develop them. The cost of doing business with data is enormous, not only to collect it, but also to maintain it."
"We want to develop a library-like service where books brought in by users are categorized, tagged, and lent to businesses that need them in the format they need."
"The most important things are (1) that the data is owned by the users themselves and by the companies that input the data, so (2) that the data can be withheld from those to whom they do not wish to disclose it, and (3) that information that could not previously be disclosed can now be disclosed."
🥶The 3 things listed at the end of this point are heavily described in the patents. The patents also describe how Jasmy Networks can be partitioned, which means that Jasmy Networks ran by node operators in different regions can be completely separate from each other - so there can be a compliant Jasmy Japan, Jasmy USA, Jasmy Europe, Jasmy China, Jasmy UAE, etc... without causing friction between these Governments and still bringing value to the same $JASMY Coin.
Point 4:
**"**In Web3, Filecoin, which provides a distributed database IPFS, is well known, but in reality, the infrastructure is supported by data center operators, so I think we will see more good projects from the user's perspective in the future."
"What we are focusing on is the data that users have and the resources of the devices that generate the data. You as individuals actually have a lot of very valuable data. And companies want accurate data. If data is anonymized and abstracted and provided in a way that does not identify individuals, businesses can use the data with a reduced risk of leakage. Companies developing AI products have an ongoing need to acquire accurate data, and this need will continue to grow as the market expands in the future."
"What do you think is the device resource you are most familiar with? In fact, it is a gaming terminal, including Play Station. GPU is a computing device specialized for real-time image processing, and was originally used in computer games as a typical example."
"Do you have any unused gaming terminals in your home? Are they sleeping when not in use? What if there was a program in which you could be paid for the time you are not using the device, in exchange for donating those resources to an innovation company?
Furthermore, you may be able to own a portion of the new products, services, and value-added that are created by your donation of these resources. Our platform is being developed to implement the ability to create and own productions and IP by providing data and resources."
🥶Hara-san brings up a good point with the underlying data managers for Filecoin. The same goes for ICP. They're just replacing data storage providers with new ones. In contrast, Jasmy seeks to utilize individual user data and their devices as an edge network, allocating the computing process away from the cores and to user's devices on the edge of the network. Through Neutrix Cloud and data abstraction, Jasmy Network can utilize existing cloud storage infrastructure, distributing it across multiple cloud networks like Amazon & Google, while also maintaining complete privacy for the data owners. This approach benefits prioritizes user data ownership/privacy and also benefits existing Web2 cloud providers through continuing to utilize their services. Jasmy doesn't aim to compete with Amazon, Google, and other cloud providers like Filecoin and ICP... they are building a hybrid solution that benefits everybody.
🥶 Jasmy has been name dropping #PlayStation for years, and although Jasmy Inc. is very quiet they really do have the former #Sony executives to make these conversations happen. As a Japan-first Network, it only makes sense to target PlayStations as a source of edge computing and data generation. We have discussed trading data many times, but we haven't covered trading resources for rights, IP, ownership of new services. I find this concept very exciting and futuristic!
Point 5:
**"**On the demand side, the service must be provided safely and promptly to companies using the resources, the resources must be supplied for the required period of time and with peace of mind, a clear cost structure must be presented, and the rights to the production must be clear.
On the supply side, the service should provide an easy-to-understand user interface for providing data and resources; the resource owner should receive a seamless distribution of rewards; and the rewards should be attractive and equivalent in value to cash."
"In fact, many of these can be built cheaply, quickly, and securely using blockchain technology. We are prepared to customize the technology that is already out there for your company and provide many of the necessary features in addition to this."
🥶 Hara-san outlines the requirements for both ends of the Jasmy Edge Computing Service described in the previous point and states that Jasmy is ready to build customized versions of this technology for any company. I find it self explanatory, but I thought it was worth an individual point.
Point 6:
**"**Furthermore, we are providing support in the area of building a user database and member registration system that can be utilized by Web2 companies when they expand their business to Web3. Members register their company ID with Google ID, and their data is stored in the database, and a system is being prepared for them to earn rewards like points according to the data."
"The system uses account abstraction based on the ERC4337 technology platform and substitutes a social networking account for a secret key, allowing members to receive rewards seamlessly while maintaining security. We are working with our partners to develop an SDK/API tied to our proprietary chain, which we will commercialize."
🥶 I find this point very interesting. They specifically name Google ID as part of the sign-up process for Web2 companies shifting to Web3 through Jasmy. Google ID is simply an email account that is used to create a Google Account, like Apple ID. By going through Jasmy as an intermediary from Web2 to Web3, companies can transform their corporate IDs into Web3 Decentralized IDs (DID) by issuing a secret key. They are developing the software that will enable this service, which is connected to the Main Net.
🥶 Google Cloud Article - "The democratization of insights: Empowering data analysts and business users"
https://cloud.google.com/blog/products/data-analytics/democratizing-data-and-insights-with-google-cloud
🥶Guide to ERC-4337 Account Abstraction:
https://cointelegraph.com/learn/account-abstraction-guide-to-ethereums-erc-4337-standard
🥶 IBM Article - "Blockchain for Digital Identity & Credentials"
https://www.ibm.com/blockchain-identity?utm_content=SRCWW&p1=Search&p4=43700068015592539&p5=p
Point 7:
**"**We are collaborating with a project that aims to issue Stable coin, which allows users to transfer money between users on their own applications, to collaborate with an eSports project on GPU and user database integration, and have received requests from many DEX/DeFi projects for validator integration and joint development, which we are progressively working on."
"We would like to take a proactive approach to companies and projects that.. provide superior data input to other companies with the services of generative AI, value their databases and return value to users, make sure that the new DB to be built can be shared by multiple specific entities rather than as a single entity, and do not want to spend money on building new DBs."
"In addition, we are now in talks with VC/companies, mainly in Asia, to invest in this new business and to launch it in earnest. We would be very happy to hear from companies and projects with which we can collaborate."
🥶 We've known that Jasmy has been working on IoT stable coin infrastructure with Aplix and Hara-san has said that Jasmy stablecoin (DD Coin) is to be a token of JPYC, pegged to the Yen. Jasmy is staying true to crypto ideology by focusing on their users' ability to have complete ownership and control of their data and their digital assets. This is Data & Finance Democracy combined.
🥶 The E-Sports collaboration for GPU and Data Base integration goes back to the Jasmy Edge Computing Service I described in Point 4.
🥶 We have known that Jasmy has partnered with CEX/DEX services like XTexchange, NeopinOfficial, Bifrost_Network, & kanalabs. They mention validator integration, which means running a node for interoperability of these CEX/DEX & Jasmy Network. They also mention joint development, which means potential DApps & services.
🥶 Jasmy Inc. is focused on building a network that will provide a superior foundation, including data bases and data feed for companies/projects that have Generative AI Services (think ChatGPT, Image Generators, and all future Generative AI Services like music).
🥶 Jasmy Inc. is already in talks with Venture Capitalists & Companies in Asia for investment and development and they are looking for more businesses to join.
Point 8:
"The first is to store the crypto asset as a treasury in a place where ERC20 tokens can be safely stored and issue tokens on the consortium chain for the same amount. We describe this as a token lockup, and we will build an economic sphere where the tokens will actually be earned and spent within Jasmy's service. We are preparing to operate an ecosystem aimed at regional development within the Fun Token application, which has already been operated in cooperation with sports teams."
"Second, as part of this DePIN project, we are building an environment in which tokens can be used on an open source basis. We believe that the seamless receipt of attractive rewards is a condition for business development for decentralized services, such as Web3. In addition to the instantaneous reflection of rewards in one's account, we will add the option to convert these rewards into crypto assets."
🥶 Storing $JASMY ERC20 Token in a secure treasury, with a locking mechanism and an equivalent amount issued on the consortium chain is known as a Lock/Mint - Burn/Unlock Mechanism. This mechanism ensures Jasmy Coin is always 1:1, maintaining the Maximum 50 Billion supply.
🥶 Sagan Tosu is Jasmy's first sports team to participate in the development of Fan Tokens, and they are now saying that they are working with multiple sports teams.
🥶 Jasmy re-emphasizes that they are developing the network to support Fan Tokens being used on an open sourced basis. Having an open source foundation is critical in expanding the use case of these tokens. Instead of Jasmy developing a Fan Token for every small/medium/large team, having an open source code enables all these teams and organizations to develop their own tokens as they please. All of these entities can then provide their fans/customers with the ability to earn points and convert those points into crypto.
Point 9:
**"**The ecosystem is not yet operational, and the only utility of Jasmy Coin is for payment purposes or for investment and operation on an exchange. Many users will acquire them within the ecosystem and consume them in services, rather than purchase them. This is the Jasmy ecosystem in 2024."
"This is a completely new and challenging project, and we need to gather many talented people, as well as companies, investors, and users who share our concept."
🥶 Hara-san states the current utility of Jasmy Coin, which is only payments and investments. He then states that users will acquire Jasmy Coin within the ecosystem and consume them in services. The way this is worded, suggests that the ecosystem will launch in 2024... remember it is still business calendar 2023 in Japan until April 1st, which is approximately when the Data Market was scheduled to launch at the end of Jasmy's 2023 business calendar Road Map.
🥶 Hara-san also states the uniqueness and high challenge level of this project. It certainly is a complex idea, that has taken years to come this far, and there are still challenges ahead. I know that $JASMY holders are tired. I am exhausted as well, but the goal has always been 2026.
🥶 I have researched other blockchain networks and technologies, but nothing touches my heart and stimulates my mind as much as JasmyMGT. Their focus on the user's ownership and control of their data and finances is very powerful to me... it is what brought me here in the first place! Quick shoutout to u/LilBidMan, the OG of OG's & the Alpha Jasmy Researcher.
🥶 I would like to thank HARA_JasmyCFO for pressing through this rough bear market. I would like to thank our new Community Manager 0xjasmy (KJ) for translating and publishing the AMA. Let's work together, #JasmyLabs and the #Jasmy Community, to spread the word of this novel solution and bring in more developers, companies, investors, and users.
🥶 0xjasmy, my current suggestion is to take periodic questions from both the Japanese and English speaking Communities and answer through your accounts on X and TG, without having to wait for an Official AMA event. I know you cannot answer all questions, but I have many technical questions that could put investors at ease and bring even more clarity for potential developers, companies, and investors.
Be well, Jasmy Family, and stay chill. 🥶
https://www.reddit.com/r/JasmyToken/comments/1abw6wn/jasmy_ama_my_thoughts/
much more good information/researched opinions by this user at :
https://www.reddit.com/user/Icy_Amphibian_JASMY/
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