Binance-listed altcoin JasmyCoin (JASMY) has announced a partnership with tech giant Panasonic, to foster development of a platform that applies blockchain tech and IoT.

JASMY is an Internet of Things (IoT) focused Japanese cryptocurrency. The altcoin stunned investors last month with an explosive 160% move in response to new crypto investments regulations in Japan.

The strategic collaboration aims to create a Web3-based platform that connects decentralized database to the IoT. This allows “device information to be attributed to individuals and provided to others securely,” JASMY CFO wrote on X.

“We will spend 3-6 months building a platform that ties a personal data locker, a decentralized DB, to the IoT.”

#JASMY and #Panasonic Advanced Technology begin collaboration to develop #IoT platform.

We will spend 3-6 months building a platform that ties a personal data locker, a decentralized DB, to the IoT and allows device information to be attributed to individuals and provided to…

— HARA (@HARA_JasmyCFO) March 26, 2024

Per a Tuesday’s press release, the platform leverages JASMY’s Personal Data Locker (PDL) technology alongside Panasonic’s extensive know-how in IoT.

As the IoT ecosystem continues to grow and evolve, the integration of Web3 technologies is poised to play a pivotal role in shaping the future of this interconnected world. According to IoT analytics, global IoT connections are expected to grow to 27 billion by 2025.

That said, the new platform promises to revolutionize how data is managed and utilized in the IoT landscape by providing enhanced security, data ownership, and interoperability.

JasmyCoin Price Surge by 10%

Following the announcement, the price of the altcoin JASMY raised 10% to $0.0231 at press time. JasmyCoin also reached a staggering 400% increase in value over the past two months.

The anticipation surrounding the altcoin’s future pricing is buoyed by predictions of substantial growth. The coin is poised or an upward price trajectory and the optimism is spurred by the advancement of technology.

Per JasmyCoin’s price prediction by Cryptonews, the altcoin would gradually evolve above average price of $0.025 by December this year.