What is JasmyCoin?

JasmyCoin (JASMY) is a cryptocurrency project developed by Jasmy Corporation, a Tokyo-based Internet of Things (IoT) provider. The Jasmy platform strives to restore and protect individual data sovereignty by integrating IoT technology with blockchain technology. This allows users to have full control over their personal information. The primary objective of JasmyCoin is to create an environment where users can exchange data between IoT devices and decentralized protocols in a trustless manner. The JasmyCoin token, an ERC-20 token, powers the Jasmy platform and plays a crucial role in building the entire Jasmy ecosystem.

How does JasmyCoin work?

JasmyCoin operates by decentralizing the workflow with edge computing and storing data on the InterPlanetary File System (IPFS). The platform's philosophy is based on the democratization of data using a decentralized model, where data is securely protected and owned by an owner. Service providers can promote their services using data owned by users. User data is kept in a secure storage of personal data. The Jasmy network uses IPFS technology, which consists of the Security Knowledge Communicator (SKC) and Smart Defender. To activate SKC, users need to go through the registration and identity verification stage, after which they can track transactions and manage data.

What are the potential use cases for JasmyCoin?

JasmyCoin seeks to address several challenges in the digital age. The Jasmy platform aims to ensure its customers' confidentiality and gives them the right to manage their own personal data. Users can send information via IoT devices to companies in exchange for services in a secure manner. Jasmy also offers a data processing policy in which the information-gathering of customers is carried out properly, excluding information leakage. The Jasmy network ensures a decentralized infrastructure where data management is built on security and trust. JasmyCoin is the primary currency of the Jasmy network, and one of the main uses of the token is to compensate for personal data from IoT devices. Customers can use JASMY to purchase products on the platform, as well as to protect information.

What is the history of JasmyCoin?

Jasmy was founded in April 2016 in Tokyo by several former Sony executives. In October 2021, JasmyCoin (JASMY) was launched in Japan. The project has partnered with major players in the digital industry, including Transcosmos, Panasonic, and VAIO. The JASMY smart contract was deployed on Ethereum in December 2019, and later was audited by SlowMist, a blockchain security firm. JasmyCoin is a Japanese cryptocurrency that aims to fully comply with the legal requirements of Japanese legislation, which regulates transactions with cryptocurrencies and is subject to financial audits.