JasmyCoin (JASMY) is the native cryptocurrency of Jasmy Corporation, a Tokyo-based Internet of Things (IoT) provider. The project stands at the intersection of IoT and blockchain technology, aiming to revolutionize how personal data is managed and owned. This guide explores everything you need to know about JASMY, from its technology and founders to its market performance.
What Is JasmyCoin (JASMY)?
JasmyCoin (JASMY) powers the ecosystem of Jasmy Corporation, an IoT company that focuses on the secure exchange of data. IoT systems consist of interconnected mechanical and digital devices that can transmit data. Jasmy’s platform connects two primary groups: service providers and data users.
The core mission of Jasmy is to restore and protect the sovereignty of personal data by integrating IoT with blockchain. This approach allows users to retain full control over their personal information. The goal is to create a secure environment where data can be exchanged trustlessly between IoT devices—such as computers, cars, and smartphones—and decentralized protocols.
Jasmy’s developers are building an infrastructure that enables easy, secure, and seamless data use. The platform offers a robust framework, an intuitive interface, and safe storage and sharing mechanisms. In the Jasmy ecosystem, data becomes a personal asset.
The platform decentralizes operations using edge computing and stores data on the InterPlanetary File System (IPFS). This model promotes data democratization, where information remains securely protected and owned by individuals, while service providers can leverage it—with user permission—to enhance their services.
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Who Are the Founders of JasmyCoin?
Jasmy was established in April 2016 in Tokyo by a group of former Sony executives. Key founders include:
- Kunitake Ando (Representative Director of Jasmy, former President and COO of Sony Corporation)
- Kazumasa Sato (President and COO of Jasmy, former CEO of Sony Style.com Japan)
- Masanobu Yoshida (Former Vice President and CTO of Jasmy, retired in December 2021)
- Hiroshi Harada (CFO of Jasmy, former executive financial analyst at KPMG)
JasmyCoin (JASMY) was launched on the Japanese exchange BITPoint Japan in October 2021. The $JASMY token is an ERC-20 standard token built on the Ethereum blockchain. It serves as the primary utility token within the Jasmy network, playing a crucial role in the ecosystem's functionality and growth.
The project has established partnerships with several major corporations in the digital industry, including Transcosmos, Panasonic, and VAIO.
What Makes JasmyCoin Unique?
Jasmy addresses several critical challenges in the digital age:
- Data Sovereignty and Confidentiality: The platform ensures user confidentiality and grants individuals the right to manage their personal data. Users can send information to companies via IoT devices securely in exchange for services.
- Secure Data Processing: Jasmy implements data handling policies that facilitate proper customer information collection while avoiding leaks.
- Decentralized and Trusted Infrastructure: The network ensures data management is based on a secure and trustless decentralized foundation.
JasmyCoin strives to provide the highest level of security for the market. The active use of IoT devices within its framework also helps reduce fraudulent activities.
How Does It Work?
User data is stored in secure personal data lockers. The Jasmy network utilizes IPFS technology, which consists of two main components: the Secure Knowledge Communicator (SKC) and the Smart Guardian (SG).
- To activate the SKC, users go through registration and identity verification. After this, they can track transactions and manage their data. At this stage, companies or investors can obtain permission to use the owner’s personal information.
- The Smart Guardian service enables the secure registration of IoT devices.
What Is the Circulating Supply of JasmyCoin (JASMY)?
JasmyCoin (JASMY) is a utility token that operates on the Ethereum blockchain as an ERC-20 token. It is the sole currency within the Jasmy network.
The primary use cases for JASMY include:
- Paying for personal data from IoT devices.
- Purchasing products on the platform.
- Securing information.
- Granting access to stored data.
The maximum supply of JASMY is capped at 50 billion coins. The total supply is allocated as follows:
- 48% to the Ecosystem Fund
- 27% to Investors
- 20% to Contributors and the Community
- 5% to Reward Programs
Notably, JasmyCoin did not conduct an Initial Coin Offering (ICO).
How Is the JasmyCoin Network Secured?
The JASMY smart contract was deployed on the Ethereum blockchain in December 2019. It subsequently underwent a security audit by SlowMist, a renowned blockchain security company that provides cybersecurity audits and protection for digital assets, major exchanges, and crypto wallets. The audit certificate is publicly available for verification.
As a Japanese cryptocurrency, JasmyCoin is fully compliant with Japan's stringent legal requirements for crypto transactions. The country enforces strict regulations and requires various financial audits. Jasmy is an officially registered legal platform, which gives the JASMY token characteristics similar to a stock or security. The company could be held liable if user deposits are exposed, and Japanese law may revoke licenses for such violations.
Where Can You Buy JasmyCoin (JASMY)?
JasmyCoin (JASMY) is listed on numerous major cryptocurrency exchanges. Users can purchase JASMY on popular trading platforms globally. Always ensure you are using a reputable exchange that complies with regulations in your jurisdiction.
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JasmyCoin (JASMY) Market Performance and Metrics
- All-Time High: The highest price ever recorded for JASMY was $4.99 on February 16, 2021.
- All-Time Low: The lowest price recorded was $0.002747.
- Market Capitalization: The current market cap of JASMY is approximately $622.26 million, which places it at rank #133 on CoinMarketCap (as of the latest data).
- Circulating Supply: There are currently 49.44 billion JASMY in circulation out of a maximum supply of 50.00 billion.
Cryptocurrency markets are highly volatile. It is crucial to conduct your own research (DYOR) and assess your risk tolerance before making any investment decisions. Analyzing JASMY's price trends and patterns can help identify potential opportunities.
Frequently Asked Questions (FAQ)
What is the main purpose of JasmyCoin?
JasmyCoin is designed to be the utility token for the Jasmy platform, which aims to give users full control over their personal data. It is used for transactions, payments, and accessing services within this IoT and blockchain-based ecosystem.
How does JasmyCoin ensure data security?
Jasmy leverages blockchain technology, IPFS for decentralized storage, and rigorous smart contract audits. Its infrastructure is built to be trustless and secure, ensuring user data remains protected and under the owner's control.
Is JasmyCoin a good investment?
Like all cryptocurrencies, JASMY carries investment risks due to market volatility. Its value is tied to the adoption and success of the Jasmy platform. Investors should thoroughly research the project, understand the technology, and evaluate market conditions before investing.
Who is behind the JasmyCoin project?
JasmyCoin was founded by a team of former Sony executives in Tokyo, Japan. The company has also formed strategic partnerships with established firms like Panasonic and Transcosmos.
What is the total supply of JasmyCoin?
The total maximum supply of JASMY is fixed at 50 billion tokens. There is no mechanism to create more coins beyond this cap.
Can I use JasmyCoin to purchase goods and services?
Yes, within the Jasmy ecosystem, the JASMY token is used to pay for data and services. Its adoption for external goods and services depends on merchant acceptance.