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Many JasmyCoin investors seem to think the project has partnered with Apple, causing the token to leap 20% over the past 24 hours. But it’s overly optimistic news at best and most likely fake.
What does appear to be true is that Tim Cook, the CEO of Apple, agreed to put Japan’s “My Number” identification card functions onto iPhones, per a spokesperson for the Japanese government. With this integration, the plan is to collect tax and social security data into a single identification card for Japanese citizens and foreign residents.
As this news broke, JasmyCoin investors took this to mean that the cryptocurrency would also be integrated on iPhones. But, there are currently no confirmed reports from Apple, Japan, or JasmyCoin that confirm this.
Neither Apple nor JasmyCoin immediately responded to Decrypt’s request for comment.
JasmyCoin is an Ethereum ERC-20 token with a strong focus on privacy and data security. In turn, members of its community have long said it’s the perfect match to power Japans’ digital identity card project.
This all comes from a 2023 press release by Japanese company Cyber Trust. In the release, the company explains that it is creating an “iTrust Identity Confirmation Service” which will use Jasmy’s blockchain. However, it’s important to note the distinction between the iTrust Identity Confirmation Service and the My Number initiative by the Japanese government.
My Number cards act as certificates of cardholders’ name, address, date of birth, as well as other sensitive information. They are used as electronic certificates for identity verification.
Since May last year, the My Number feature has been available on Android devices through the “Mynaportal” app. Cyber Trust’s technology “provides the ability to perform identity verification in conjunction” with this app, according to a Cyber Trust blog post.
There are currently no reports suggesting that the iTrust Identity Confirmation Service will be natively implemented in iPhones.
If things are to remain the same, it’s likely that the My Number feature will be integrated into iPhones and users can then choose to use the iTrust Identity Confirmation Service. The service would then hypothetically interact with this feature using the electronic identification certificate (JPKI) stored in the My Number card.
The market doesn’t seem to care about this nuance though. “Announced by the literal [Prime Minister] of Japan, not sure how much more reliable you can get than that,” a JasmyCoin fan posted on Reddit, referencing iPhone’s integration of My Number.
Over the past 24 hours, the JASMY token has climbed 20% and has jumped a mighty 44% over the past week. This has put the Ethereum ERC-20 token within touching distance of the Pyth Network with a $1.46 million market cap, according to CoinGecko.
Edited by Stacy Elliott.