Launched in October 2021, Jasmy Coin is a new blockchain project from Japan. The platform has its own token called JASMY, based on Ethereum and is the first cryptocurrency to meet legal requirements in Japan. This is crucial because Japan has strict regulations on cryptocurrencies. Its decentralised blockchain aims to give users control over their data. It combines traditional Internet of Things (IoT) with blockchain technology, allowing users to decide how their data is used.
The project provides users a “personal data locker” to securely store their information. The goal is to create an environment where users have full control over their data. Data from IoT devices will be stored in the data locker. It is designed to be a payment cryptocurrency: companies can buy user data using it, making it easier for data-dependent organisations to access data. As the market grows, the value of data is expected to increase. It is also focused on metaverse data security and exchange. With the metaverse expanding, one significant challenge is the lack of an effective, decentralised data storage system. Jasmy addresses this by offering a safe environment where data can be stored, saved, or exchanged securely between metaverse applications built on its network.
Key Highlights of the Coin
- Jasmy Coin has emerged as a Japanese alternative crypto-currency.
- The focus is on making blockchain technology more secure.
- The coin is growing significantly in the market, with its value steadily increasing.
The blockchain network of cryptocurrency offers strict security measures. Indeed, that is true, and that is why this network is deemed the safest way to transact. In Web3 applications, one cannot cancel out the possibility of data breaches. History shows us that such breaches are possible. Therefore, the Jasmy network has taken up the onus to avoid this security leakage. Jasmy Coin is the main cryptocurrency used for everything in the project. This Japanese project deals with data-related challenges that might come up with new technology. They focus on protecting user data in fields like Blockchain, Metaverse, and the Internet of Things (IoT).
The Japanese Root
The Jasmy platform was made and started by Japanese founders: Kunitake Ando, Kazumasa Sato, Masanobu Yoshida, and Hiroshi Harada. They all had important jobs at big companies like SONY and KPMG. Jasmy coin was first launched on the Japanese exchange BIcreatednt Japan.
Since it started in Jaan and most of its development happened there, the team calls their project “Japan’s Bitcoin.” As we said before, Japanese venture capitalists are investing heavily in the project, which is raising the token’s price. Also, it is worth mentioning that in a YouTube video discussion among several investors, the host said, “Jasmy is the biggest crypto developed in Japan.”
The Working Process
The Internet of Things (IoT) connects various electronic devices, like phones and computers, to share data. It also includes physical objects with sensors and software, like chips, to collect and share information. In today’s world, often called “the century of data,” and with advancements like IoT, metaverse, and Web3, there is a big risk of data being leaked or misused. The Jasmy project is thinking ahead and working hard to keep data safe.
The Jasmy project offers a secure IoT platform where users can exchange information with top-notch security. It helps businesses and developers manage their IoT data, even though it has a centralised system. It also provides equipment like communication modules and wearable devices for users.
Performance Graph
JasmyCoin reached its highest price at $4.99 on February 16, 2021. But after that, the price started falling slowly and quickly, with many ups and downs. In 2022, the whole crypto sector faced tough times, and JASMY ended the year around $0.0029, dropping more than 96% throughout the year. Currently, JASMY is trading at $0.0039, with a market capitalisation of $190,418,571. It’s ranked #144 among all cryptocurrencies by that measure. In the last 24 hours, JasmyCoin’s price has increased by 0.06%, with a trading volume of $13,099,877.
Final Words
Jasmy Coin is an upcoming crypto project that aims to give users control over their data and ensure democracy, security, and sovereignty. It considers the fast growth of technologies like the Internet of Things and the metaverse and how they affect data storage and exchange. By combining blockchain and IoT, Jasmy Coin could create a new frontier in the tech industry.
