Jasmy: The new cryptocurrency that could change the world of IoT

Home » Jasmy: The new cryptocurrency that could change the world of IoT
Rate this post

What is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is a cryptocurrency project by Tokyo-based Internet of Things (IoT) provider Jasmy Corporation. As a system, the Internet of Things includes mechanical and digital elements endowed with an identifier and the ability to transmit data. The IoT company Jasmy specializes in data trading, and the Jasmy platform combines two categories: service providers and data users.

Jasmy platform was created to restore and protect the sovereignty of individual data by combining IoT and blockchain technologies and giving users full control over personal information. The main goal of the project is to create a secure environment on the platform in which users can exchange data without trust between IoT devices (computers, cars, phones) and decentralized protocols.

The mission of Jasmy developers is to create an environment by forming an infrastructure in which users can easily, securely and seamlessly use data. As a result, Jasmy strives to provide its users with a powerful infrastructure, an intuitive interface and a secure environment for storing and sharing data. In the Jasmy space, information can be converted into personal assets.

Jasmy decentralizes workflow through peripheral computing and data storage on IPFS (InterPlanetary File System). The project philosophy is based on the democratization of data using a decentralized model, where data is securely protected and owned by the owner, and service providers are able to promote their services and businesses using data (owned by users).

Who created JasmyCoin?

Jasmy was founded in April 2016 in Tokyo by several former Sony executives, among them: Kunitake Ando – authorized director of Jasmy and former president and COO of Sony Corporation; Kazumasa Sato – President of COO Jasmy and former CEO of Sony Style.com Japan Inc.; Masanobu Yoshida – Vice President and CTO Jasmy, who retired in December 2021; Hiroshi Harada is Jasmy’s chief financial officer and executive financial analyst at KPMG.

In October 2021, JasmyCoin (JASMY) was launched on the Japanese exchange BITPoint Japan. $ JASMY is the ERC-20 token that powers the Jasmy platform, acts as the network’s primary service token, and plays a vital role in building the entire Jasmy ecosystem. The project partners are major players in the digital industry, including Transcosmos, Panasonic and VAIO.

What is special about JasmyCoin?

In the digital age, Jasmy solves the following problems: The Jasmy platform guarantees its customers privacy and gives them the right to independently dispose of their personal data. With Jasmy, users securely send information through the company’s IoT devices in exchange for services; Jasmy’s data processing policy ensures that customer information is collected properly, except for information leakage; The Jasmy network provides a decentralized infrastructure in which data management is built on security and trust.

Thus, the JasmyCoin project tries to maintain the highest possible level of security and security of the market, and the active use of IoT devices helps to reduce the level of fraud.

How it works: User data is stored in a secure personal data repository. Jasmy uses IPFS (InterPlanetary File System) technology, which consists of Security Knowledge Communicator (SKC) and Smart Defender modules. To activate SKC, users need to go through the registration and identity confirmation stage, after which they can track transactions and manage data. At this stage, investors and companies receive permission to use the personal information of the owners. And with the help of the Smart Guardian (SG) service, secure registration of IoT devices is provided.

How many JasmyCoin (JASMY) coins are in circulation?

JasmyCoin (JASMY) is a service token that supports the operation of the network, it is deployed on the Ethereum blockchain and works as a ERC-20 token. JasmyCoin is the only currency of the Jasmy network, and the main function of the token is to pay for personal data from IoT devices. Customers can use JASMY to purchase products on the platform, as well as protect information. JasmyCoin gives users access to any data from the repository.

JasmyCoin’s maximum offer is 50B coins with $ JASMY 4,75B in circulation as of May 2022. JASMY’s total offer is distributed as follows: 48% to the ecosystem fund, 27% to investors, 20% to investors and the community, and 5% to the incentive program. JASMY had an ICO (initial coin offering).

How is JasmyCoin secured?

JASMY’s smart contract was deployed on Ethereum in December 2019 and later audited by SlowMist, a blockchain security firm that conducts audits and provides cybersecurity protection for digital assets, leading exchanges and crypto wallets; the certificate is available here.

JasmyCoin is a Japanese cryptocurrency that fully complies with the requirements of Japanese legislation, which strictly regulates operations with cryptocurrencies, and is subjected to various financial checks. Jasmy also claims to be a legal officially registered platform. This aspect gives the JASMY token a role similar to stocks and securities. Jasmy can be held liable in case of disclosure of information about the assets of investors and users. For such violations, Japanese law may revoke the license and call for liability.

Advantages of the Jasmy project

  • The platform guarantees data security and control;
  • The system ensures the security of shared data through encryption acting as a double protection; Jasmy creates a democratic decision-making environment in a decentralized society;
  • In the Jasmy ecosystem, any type of user (companies, organizations, individuals) can access the use of data with the expectation of contribution, innovation or value creation.

Market indicators and growth factors of JASMY

According to CoinGecko, at the time of writing JASMY is trading at around $0.015. The highest level recorded in the past 24 hours was $0.18. JASMY token value graph. Source: CoinGecko Cryptocurrency capitalization is $860 million The trading volume over the past day has grown by 104% and struck $1.6 billion In total, there are now 48 419 999 999 tokens in circulation out of a total offer of 50 billion coins.

The duration is explained by a number of factors:

  • Recent changes in Japanese law. This week, Japanese venture capital firms got the opportunity to invest in crypto projects. First of all, it was forbidden. Many cryptocurrency startups had to raise money abroad, which caused certain difficulties.
  • Two whales woke up in the JasmyCoin market at once, which have collectively accumulated 1.2 billion tokens since October 2021. According to SpotOnChain, on February 20, both whales withdrew 665.655 million JASMY worth $5.36 million from Coinbase.
  • The DWF Labs market maker started a Japanese cryptocurrency on the Binance crypto exchange. Over the past 24 hours, the company has placed almost $5 million JASMY on the site.

Leave a Reply

Your email address will not be published. Required fields are marked *