What is JasmyCoin (JASMY)? Japan’s First Legal Blockchain Token

JasmyCoin (JASMY) is a blockchain project focused on data security in the Internet of Things (IoT) era. It provides a decentralised environment where users regain control of their data while companies must pay for access. 

As Japan's first legally compliant blockchain token, Jasmy has gained attention for its innovative approach to data sovereignty.

The Company Behind JasmyCoin

Jasmy was founded in 2016 and is based in Tokyo, Japan. It is a blockchain and IoT company that integrates decentralised storage, secure authentication, and data exchange solutions. 

^{Source: Jasmy}

The company was co-founded by Ando Guowei, who previously served as the president and COO of Sony Corporation. His leadership has brought credibility to the project, making it one of Japan’s most recognised blockchain ventures.

The company’s core product, the Jasmy IoT Platform, allows businesses to securely store and manage user data. 

Unlike traditional data services, where companies control and monetise personal information, Jasmy enables individuals to retain ownership of their data. 

The platform has been adopted by enterprises like Transcomos, VAIO, and Witz, highlighting its real-world use cases in industries such as healthcare, education, and automotive technology.

How the Jasmy Blockchain Works

Jasmy’s blockchain technology is designed for secure data storage, authentication, and exchange. It operates on the Ethereum network, fully complying with the ERC-20 standard, ensuring interoperability with decentralised applications (dApps).

• Secure Knowledge Communicator (SKC): This is Jasmy’s proprietary data interaction technology. It facilitates decentralised storage, user authentication, and permission-based data access, ensuring that only authorised entities can interact with private data.
• Personal Data Locker (PDL): This is a distributed storage system where users can securely store their personal information. It allows individuals to control access to their data, reducing the risk of leaks and unauthorised use.
• Smart Guardian (SG): Developed by Sony computer engineer Nao Morita, this technology ensures that IoT devices can authenticate owners and store their data securely on the blockchain.

By integrating these technologies, Jasmy offers a decentralised alternative to traditional cloud storage, ensuring that personal data remains private while still enabling businesses to access it through transparent, permissioned transactions.

The Role of JasmyCoin in the Ecosystem

JasmyCoin (JASMY) is the native utility token of the Jasmy network. It serves multiple purposes within the ecosystem, ensuring that transactions, data access, and platform operations function smoothly.

• Payment for Services: Businesses using the Jasmy platform must pay for access to user data using JASMY tokens. This creates demand for the token as companies integrate Jasmy’s technology.
• User Compensation: Individuals can earn JASMY tokens in exchange for sharing their data with businesses. This gives users the power to monetise their information on their terms.
• Data Access Fees: Companies must use JASMY tokens to retrieve stored information from the Personal Data Locker. This ensures that data access is transparent and verifiable.
• Decentralised Economy: As more enterprises adopt Jasmy’s technology, the use of JASMY tokens is expected to increase, potentially influencing the token’s long-term value.

JasmyCoin operates within a structured token economy that balances supply and demand. The total supply is capped at 50 billion JASMY, with 48.4 billion currently in circulation. 

The token’s integration into various enterprise applications ensures continued utility and relevance in the blockchain space.

JasmyCoin Market Performance and Historical Trends

JasmyCoin has had a volatile price history since its launch. The all-time high was $4.79 on February 16, 2021, but the token has since experienced a significant correction, dropping by 99.5% from its peak. 

Its all-time low was $0.00275 on December 29, 2022, representing a 722.8% increase since then.

^{Source: Coingecko}

Currently, JASMY is trading at $0.0225, down 3.3% in the last 24 hours. Its market capitalisation is $1.09 billion, making it one of the larger blockchain projects in terms of valuation. The 24-hour trading volume is $73.8 million, reflecting strong liquidity.

Recent price trends suggest that JASMY remains a speculative asset, but its long-term value depends on the increased adoption of its IoT blockchain solutions. If more enterprises integrate Jasmy’s platform, demand for JASMY tokens could rise, influencing future price action.

Conclusion

JasmyCoin is a unique blockchain project focusing on IoT security and data privacy. As Japan’s first legally compliant blockchain token, it has attracted interest from both enterprises and investors. 

Its technology empowers users to control their data while providing businesses with a structured way to access valuable information through blockchain transparency.

While its price history has seen significant fluctuations, Jasmy’s potential lies in real-world adoption. As more companies seek secure data management solutions, Jasmy’s blockchain infrastructure could play a crucial role in shaping the future of IoT security.

Frequently Asked Questions

What is JasmyCoin used for?
JasmyCoin is used for data transactions within the Jasmy network. Businesses must pay for access to user data, while individuals can earn JASMY tokens by sharing their information.

Is JasmyCoin a good investment?
JasmyCoin has experienced high volatility, making it a speculative asset. Its long-term potential depends on enterprise adoption and the expansion of its IoT blockchain solutions.

How does Jasmy ensure data security?
Jasmy uses blockchain technology, personal data lockers, and decentralised authentication methods to protect user data, ensuring privacy and reducing the risk of unauthorised access.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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