An Ultimate Guide to Jasmycoin (JASMY)

The Internet has swiftly evolved over the past few years. The developers are continuously introducing new ideas to facilitate internet users. But the problem is that large corporations control a huge chunk of the internet. These corporations have complete control of the users’ data.

They can share the data with different advertising platforms to earn profits. They can also provide the users’ information to government organizations if needed. Blockchain technology is trying to break this monopoly by providing users with complete control over their data.

Jasmy is one of the leading blockchain projects dedicated to ensuring data democracy in the digital world.

What is Jasmycoin (JASMY)?

Jasmycoin is a blockchain network designed to ensure individual data sovereignty in the era of IoT (Internet of Things) and the metaverse. Jasmy provides users with complete control of their data allowing them to decide whether they should monetize their data or not. Jasmy introduces personal data lockers for users who want to keep their data secure.

The users can register their IoT devices with the help of Smart Guardian servers. Thus, only the owner can access those devices when needed. The users can authorize and trace transactions after registering with the Security Knowledge Communicator (SKC). Thus, companies and even government organizations can’t access the user’s data unless they have permission from the data owner.

The devices can also interact with the owners using Smart Guardian servers. One of the main goals of this network is to create a secure bridge between different metaverse applications so they may smoothly exchange data. Jasmy can play a vital role in the metaverse space because web 3.0 is still in its early stages.

Jasmycoin Brief History

Jasmycoin was introduced by Kazumasa Sato, a former Sony employee, in 2016 in Tokyo, Japan. The mainnet was launched in October 2021. Some other former employees of Sony including Masanobu Yashida, Kunitake Ando, Hiroshi Harada, and Tadashi Morita also contributed to the development of the project.

Within a short span of time, Jasmy has grabbed the attention of big names in the tech industry including VAIO, Panasonic, and Transcosmos.

What Problems Does Jasmycoin Solve?

Jasmycoin is primarily designed for the Internet of Things, a network that consists of phones, cars, computers, and other devices.

• Ensuring the Security of Data Sharing – Jasmycoin acts as an additional layer of data security protection. The IoT devices are designed to interact with each other. Thus, they generate a lot of data that may be at risk of leakage because the bigger corporations are using this data to improve their efficiency. Jasmy solves this problem by providing a secure infrastructure for data transfer and storage.
• Building a Valuable Platform – Unlike traditional data storage platforms, Jasmycoin establishes a democratic decision-making environment where community members help with securing the network.
• The convenience of Data Utilization – Jasmycoin is committed to providing individuals with complete control of their private data. However, it also gives them the freedom to share their data with their selected organizations for monetary benefits.
• Innovation – All types of companies can collect their desired data from the platform after getting approval from the data owner. They can then introduce several innovative solutions with the help of the data. It ultimately helps with improving the value of Jasmycoin.

Understanding the Benefits of Jasmycoin

JASMY is recognized as one of the safest projects in the crypto space because it’s the first legally compliant Japanese crypto project. Some investors even consider it equivalent to stocks and similar securities. The Financial Services Agency regularly evaluates and analyzes the operations of this network.

Thus, Jasmy can be held accountable by Japanese law if it violated Japanese market regulations. It provides peace of mind to the investors because the Japanese authorities can cancel this project’s license if it tried to scam the investors.

JASMY is one of the early privacy protection platforms in the IoT industry because this field is swiftly expanding.

How Does Jasmycoin Work?

Jasmy provides a secure platform for users to store, access, and exchange their data. It builds a secure communication network between IoT devices. The platform handles data according to its quality and quantity.

• Metadata Storage – Jasmy provides a personal data locker to each user where they can store a huge amount of data including text, code, photos, audio, videos, and more. The platform provides a peer-to-peer network to securely exchange information between the users. This feature can be quite helpful for metaverse users.
• Immersive Games World – The users can create and store metaverse game assets including skins, equipment, characters, and more. The users can also trade these assets on NFT and crypto marketplaces.
• Identity – Jasmy creates an on-chain virtual identity for its users with its decentralized identity solution. It shows that the platform is seriously concerned about data storage.
• IoT Devices and Equipment – Jasmy protocol can be used to operate IoT technologies, VR devices, augmented reality, and sensor modules. Thus, it can support the immersive nature of the metaverse.

Jasmy Tokenomics

JASMY is the native token of Jasmycoin that is used to pay storage fees and transaction fees. With a circulating supply of 47 billion tokens, JASMY has a market cap of $311.6 million. It has a total supply of 50 billion tokens that will be released over time. JASMY ranks among the 200 best cryptocurrencies in terms of market cap.

Conclusion

Jasmycoin is a decentralized network that offers an amazing combination of IoT and blockchain technology. It’s designed to protect users’ data while allowing them to share their private information with their desired organizations. It can boost the adoption of web 3.0. If you need more information about how Jasmycoin works, feel free to get in touch with us.