If you have read the Jasmy white paper, you should remember this statement: “We are committed to protecting the data originally owned by individuals and building a decentralized data autonomous world, so as to realize the sharing of data value.”

With the in-depth development and application of digital technology, human beings have fully entered the pan-network era of the interconnection of all things, and the Internet, sensors, and smart devices have become important means of digitally recording people, society, and the objective world and its changes. Diverse and large-scale data can be learned by machine, and by mining and analyzing the laws behind it, insights and predictions can be generated, and new knowledge Production methods can be formed outside of manual work. As a result, data has gradually become a new factor of production.

But in Jamsy’s view, there is a prerequisite for data to become a factor of production – “data ownership”.

Data is not a factor of production in the first place. Data has been accompanied by the development and changes of human society, from “recording things with knots” to “writing the truth” after the invention of writing, and then to “data modeling” of modern science. However, it was not until the commercial use of the Internet that the ability of human beings to master and process data had a qualitative leap, and data became a factor of production.This breaks through the four-element theory of production factors (land, labor, capital, entrepreneurial ability), which we can call the “five-element theory”.

Galbraith, the leader of the New Institutional School, pointed out that at every stage of social development, there is a factor of production that is the most important and difficult to replace, and the class that masters the supply of this factor of production has an extremely important position.

For example, the status of landowners in the agricultural era, the status of capitalists and entrepreneurs in the industrial era, and the status of the “data owner” proposed by Jasmy in the era of data economy.

According to Marshall’s “four-in-one formula”, in the era of digital economy, those new classes with rich knowledge and large amounts of data will be formed at an accelerated rate and will play an increasingly important role. For this social group, we temporarily call it the “data owner”. They participate in the production process by providing data elements and receive some kind of income.

As for what type of income, this involves a series of important and critical questions, and economists were unable to give exact answers until the birth of distributed blockchain technology starting with Bitcoin in 2008, because In the traditional Internet world, enterprises basically follow the so-called “centralized system” to manage their own servers in a unified manner, which leads to the fact that the production factors of “data owners” are in the hands of enterprises, the land is in the hands of farmers, and farmers only can be a slave, how can they earn income?

However, in recent years, with the development of blockchain and the rise of the concept of Web3.0 network, “data owners” are breaking away from the control of enterprises through decentralized technology and taking back the production factors that belong to them. In Jasmy’s view, in this movement to seize “data ownership”, in addition to laws and regulations, the development and progress of blockchain technology will also provide an effective way to protect personal information or enterprise information and factorize data production.

If data is the car, network infrastructure is the road. “Traditional data protection technology is more about finding ways to “road”, such as firewalls, gatekeepers, UTM and other technologies, which are “circuit breaker” technologies. While data forms a factor of production, the infrastructure is also likely to lose control of the data. Because of the fear of losing control, a lot of data that should be flowing is now “captured” on data islands, the value of data cannot be effectively exerted, and the data grows into ” Data giant”.

To this end, Jasmy proposes a solution that combines privacy computing and blockchain technology, providing a Jasmy Personal Data Locker (PDL) security system that stores data in a distributed storage system. First of all, individual users can not only store and manage important personal data in this storage cabinet, but also freely decide the scope and period of providing personal information when personal data is connected to the enterprise. The PDL system is a distributed storage service based on a P2P network, and its main function is to provide services through “content addresses”. That is, the file itself will be stored in the distributed storage system, and the hash value of the file will be recorded on the blockchain, indirectly using the storage method of the blockchain.

In this way, when the user’s personal ID is directly stored on the Jasmy blockchain network, the authorization speed is reduced due to the large file size, and the cost of using the blockchain is increased. The core technology of Jasmy is applying for a patent, so it does not disclose too many technical details, but in the white paper and the description of the related products, we learned that Jasmy has indeed partially realized the vision of “data value sharing”, and is realizing that allowing individuals control, manage and track your own data, so that data can truly be in the hands of individuals, and form factors of production in a diverse data economy society.

“Visible but not available” means that only the information corresponding to the data is released, and the value corresponding to the data is still controlled by oneself. Common blockchain technologies can do this. Everyone can see the information of the data on the chain (transaction data is transparent), but it is only “eat melon masses”, because the corresponding value of the data is controlled in the block. What is on-chain and can flow in an orderly manner is only visible but not available.

“Available and invisible” means that only the value that the data can generate is released, and the information corresponding to the data is still controlled by oneself and not disclosed. The Jasmy Personal Data Locker (PDL) security system we mentioned earlier is a typical case. Everyone may gain value from data, but the data itself is an encrypted “blind box”, and the original data is still controlled by the owner.

In the Jasmy white paper, such a scenario is described. With the advent of the era of big data, the semantics of data are increasingly rich, and data is only a “carrier”, which separates the information semantics and value semantics of data, and holds the value when “release” information. A rope (such as blockchain), or a rope (such as Jasmy PDL) that holds information when “release” value, is very important, but the current Jasmy data system based on blockchain technology is still in its early stages of development. But I think it has more advantages than the traditional “data element” technology family, such as federated learning, homomorphic encryption, differential privacy and confidential computing.

At present, the first phase of Jasmy’s platinum happiness distribution project has begun. The development of this project will bring effective test data to Jasmy Personal Data Locker (PDL) and provide data support for the development of Jasmy’s core system. In society, Jasmy is making it easy to make data a factor of production.

To gain more information——

Official website：http://www.Jasmy.co.jp

Twitter：https://twitter.com/Jasmy_league

Telegram：https://t.me/OfficialJasmyUniverse

Facebook：https://www.facebook.com/Jasmyleague/

Medium：https://medium.com/Jasmy-league

GitHub：https://github.com/JasmyCoin/JasmyCoin