What is Jasmy (JASMY)?

Jasmy (JASMY) is an IoT platform that aims to develop infrastructure that enables anybody to use data safely and securely. The internet of things (IoT) is a system of devices connected via the internet that can share data on a wireless network without the need for human intervention. The Jasmy platform strives to reclaim data sovereignty for each individual, allowing them to safely and securely use their data. To do so, the platform has integrated Blockchain and internet of things (IoT) technologies to create a platform solution for customers all over the world and across industries.

IoT sensor data plays a significant role for organisations that deliver high-value-added services to customers and clients, as the amount of data acquired by IoT devices grows every day. However, the use of IoT brings along a few challenges with it.

Individual users share personal data with firms via smartphones or IoT devices in exchange for services. Consequently, users can feel uncomfortable as if their activity is being watched, have doubts about the aim of the data's use, and be concerned about invasion of their privacy if they provide their personal data to firms blindly. This may lead to privacy concerns amongst users. 

On top of that, companies face a lot of challenges when it comes to the safe management of user data. For example, as cited in its whitepaper, an employee took data from Benesse Corporation's system in 2014, exposing the personal information of around 35 million consumers. Aside from a direct penalty of 300 million Japanese yen (about $2.8 million), the corporation was forced to report losses totaling more than 26 billion Japanese Yen (approximately $241 million). Additionally, in 2018, the Federal Trade Commission (FTC) slapped a $5 billion fine on Facebook for improperly handling customer data.

Solutions provided by Jasmy include:  

• Ensuring the security of data sharing: With traditional blockchain technology being utilized to provide data security during the development of IoT, Jasmy provides encryption depending on machine type from the hardware level, acting as a double layer of data security protection.

• Pursuing the convenience of data utilization: The platform aims to prioritize the security of permanent control over all data about an individual (like IDs, application logs, and IoT device data) while allowing firms to use data in multiple ways (after being approved by the users).

• Building a "place" that creates value: Instead of being determined by a central authority, the platform aims to create value by building a democratic decision-making environment in a decentralized society.

• Contributing to innovation: The Jasmy platform intends to provide an environment where all types of companies, organizations, and individuals, irrespective of size, can use the data provided by the platform to drive innovation and create new value for the future.

Core products: The users of the Jasmy platform will have digital personal data lockers in Jasmy's distributed storage to hold their data. This personal data locker allows the secure storage of files within the P2P network. One of the platform's products is the SKC (Secure Knowledge Communicator), which allows the organization to achieve data democratization by creating a kind of personal data locker as a solution to the user that only the user can control and manage. SKC employs the use of identity verification techniques like KYC.

Another one of Jasmy's core products is Smart Guardian (SG), which enables easy and secure registration of IoT devices on the distributed network. This results in creating an environment that can only be used by the owner of the devices.

Token: JASMY, the native token of the platform, is based on the ERC-20 token standard on the Ethereum platform. The tokens can be traded using digital devices like smartphones or laptops. JASMY can also be used as proof of value exchange or payment for assignments and services.

History of Jasmy (JASMY)

JASMY was launched on October 26, 2021, on the Japanese exchange BITPoint Japan. The team behind Jasmy consists of Kunitake Ando (representative director), Kazumasa Sato (president & CEO), Masanobu Yoshida (vice-president & CTO), and Hiroshi Harada (CFO). 

How Are New Jasmy Created?

The users of the Jasmy IoT devices get rewarded with the JasmyCoin tokens for sharing their data and information. The manufacturers reward the users for sharing the data in the form of JasmyCoin incentives. 

There is no staking service for JasmyCoin, which has led to less circulation and fewer holders of the token. The company is already developing a staking mechanism for JasmyCoin. 

How Many JASMY Tokens Are There?

The total supply of JasmyCoins is 50 billion as per the platform's website. 

How to Buy Jasmy (JASMY)

Users can trade JASMY tokens from several exchanges like Coinbase.