What is JasmyCoin (JASMY)?
Jasmy is a Japanese internet of things (IoT) firm that wants to democratize, decentralize, and make data exchange safer.
It specializes in the secure purchase and sale of personal information. The Jasmy platform, which combines IoT and blockchain technologies and gives users complete control over their data, was created to restore and maintain the sovereignty of individual data.
The project’s primary objective is to provide a safe environment on the platform where users can interchange data between decentralized protocols and IoT devices (computers, automobiles, and phones) in a trustless way.
The Jasmy network is powered by its native currency, JasmyCoin (JASMY), hosted on the Ethereum network.
Who Are the Founders of JasmyCoin?
Several former Sony executives, including Masanobu Yoshida (Deputy President & CTO at Jasmy, retired as of December 2021), Kazumasa Sato (President & COO at Jasmy and Former CEO of Sony Style.com Japan Inc.), Kunitake Ando (Representative Director of Jasmy & Former President and COO of Sony Corporation), and Hiroshi Harada, founded Jasmy in April 2016 in Tokyo (CFO at Jasmy & Executive Financial Analyst at KPMG).
What Makes JasmyCoin Unique?
Jasmy is a system created especially for the Internet of Things (IoT). The IoT system includes computers, automobiles, smartphones, and implantable biochip transponders.
It includes mechanical and digital items with distinctive IDs and the ability to send data to other locations.
To increase productivity and profitability, businesses leverage the data they receive from the IoT.
User information is stored securely with personal data. The IPFS (InterPlanetary File System) system, which comprises the Security Knowledge Communicator (SKC) and Smart Defender, is used by the Jasmy network. Users must register and verify their identities to activate SKC, after which they can manage data and track transactions.
At this point, owners’ consent to use their personal information is granted to investors and companies.
Additionally, IoT devices are securely registered with the help of the Smart Guardian (SG) service.
How Many JASMY is in Circulation?
It has a maximum quantity of 50,000,000,000 JASMY coins and a circulation of 47,569,999,999 JASMY coins.
The distribution of the total supply of JASMY is as follows: 48% goes to the ecosystem fund, 27% goes to investors, 20% goes to contributors and the community, and 5% goes to a program offering incentives.
How is the JasmyCoin Network Secured?
In December 2019, the JASMY smart contract was launched on Ethereum.
SlowMist, a blockchain security company that offers cybersecurity auditing and protection for digital assets, top exchanges, and crypto wallets, later reviewed it.
A Japanese cryptocurrency called JasmyCoin completely conforms with all legal standards set forth by Japanese law, which carefully supervises cryptocurrency transactions and is subject to various types of financial audits.
Jasmy also asserts that it is a legitimate platform that must be registered with the government. This feature offers the JASMY token a function akin to that of securities or shares.
If investors’ and users’ savings are exposed, Jasmy could be held accountable. Japanese law allows the license to be revoked and liability imposed for such offenses.
How Can Crypto Investors Use JasmyCoin (JASMY)?
The JASMY token’s primary use case is as payment for IoT device personal data, and it is the only legal tender on the Jasmy network.
The demand for JASMY tokens will rise as more businesses use Jasmy.
Businesses that want to buy the user data saved on the platform use Jasmy’s native currency, JasmyCoin (JASMY).
Users may also invest in, use, and administer the token for metaverse utility. JASMY is an ERC-20 token created on the Ethereum (ETH) network.
Where to Buy JASMY?
As of May 2022, several cryptocurrency exchanges list JasmyCoin (JASMY), among them:
FAQs
- How many people currently hold JASMY?
According to information provided by etherscan.io, 36,169 JASMY tokens were held in total.
- Is there a future for JasmyCoin?
Jasmy Coin’s future is bright, thanks to its limited token supply and community support.
In February 2021, JasmyCoin prices reached an all-time high (ATH) of $4.9.
However, as the crypto market falls, Jasmy Coin’s performance also falls in 2023.
