The native token of Japanese startup JasmyCoin, $JASMY, recently experienced a significant surge in value, fueled by rumors of a potential partnership with tech giant Apple. Various crypto influencers and some media outlets were quick to spread the story, though it seems many had exaggerated details or simply spread misleading information. Nevertheless, the excitement around a possible collaboration has driven the token’s price up.

The speculation began following a Reuters report stating that Apple plans to integrate Japan’s “My Number” ID card into the iPhone, as confirmed by Japanese officials. This card consolidates an individual’s tax and social security information to improve administrative efficiency. The announcement came after a video conference between Japan’s Prime Minister and Apple CEO Tim Cook on the subject.

JasmyCoin tech has been integrated into the “My Number” ID card to enhance its security and transparency through blockchain technology. As a result, some speculated that JasmyCoin’s technology would be integrated into the iPhone’s feature set, inciting rumors of a substantial link between JasmyCoin and Apple. This situation is a classic example of information distortion or the “broken telephone” effect. 

While there is no direct partnership, one Telegram user described it as “the most direct indirect partnership I’ve ever seen,” which explains the price surge.

JasmyCoin positions itself as a blockchain and IoT (Internet of Things) company focused on data storage and management, according to its official website and whitepaper. The company’s ambitious aim is to foster a “Data Democracy”, establishing a decentralized world where individuals inherently own and control their data. Users of the Jasmy platform maintain their data in “digital lockers” housed in distributed storage, maintaining complete control over their data’s usage scope and duration.

The project is led by former executives from Sony, who leverage their extensive connections in Asia, particularly in Japan, to foster collaboration. For example, in March, Jasmy announced a partnership with Panasonic to launch a Web3 IoT Platform. Jasmy’s CFO shared on X that they expect to have their decentralized personal data platform operational within the next three to six months. This development is a primary focus of this year’s roadmap.

Despite these developments and so-called “indirect” partnerships, it is notable that $JASMY is currently listed in Binance’s monitoring zone. This status indicates heightened volatility and risk. Tokens in this category are under close observation for potential delisting if they fail to meet ongoing listing criteria.

So, while $JASMY holders are excited about a possible collaboration with Apple, the coin may also be at risk of being delisted from Binance. 

Share this article
The link has been copied!