JasmyCoin

What is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is a decentralized cryptocurrency, launched in 2021 by Jasmy Corporation’s Kazumasa Sato and Kunitake Ando. The duo created JASMY to empower individuals with ownership and control over their personal data in the digital age. By using blockchain technology, JASMY connects Internet of Things (IoT) devices with decentralized finance (DeFi). This way, anyone can benefit from secure and innovative data privacy solutions.

What is Internet of Things (IoT)?

Iot are devices that have internet connectivity and take action based on data they collect. For example, GPS-enabled cars provide up to date maps, route tracking, and parking information. Or healthcare wearables like smart rings track information about your sleep, activity, and stress levels. IoT is integrated into blockchain technology to securely, efficiently, and transparently manage the data created by these devices. 

How does JASMY token power the Jasmy ecosystem?

The JASMY token helps fuel the platform by enabling transactions and supporting Jasmy's financial products, like secure IoT services and data management solutions. JASMY also incentivizes users to participate in the ecosystem, whether through staking, lending, or engaging with decentralized applications.

What makes JASMY token compatible with Ethereum?

Compatible with the Ethereum network, JASMY, pronounced “Jaz-mee,” is an ERC-20 token. You can use JASMY to trade and stake digital currencies, as well as participate in the Ethereum network. Jasmy’s ecosystem is powered by technology called smart contracts.

How do smart contracts work in Ethereum?

A smart contract is a digital agreement written in computer code that lives on Jasmy’s blockchain. It automatically does something when certain conditions are met. For example, if you send me 1 JASMY, the smart contract instantly sends you a digital artwork that I created. No human needs to be there to make it work; the smart contract follows the rules it was programmed with.

Why is the Ethereum blockchain important for JASMY?

The Ethereum blockchain network that the JASMY token is compatible with is a huge, secure, ever-growing ledger of smart contract transactions, which everyone can see, and is immutable. Once a traditional smart contract is created, it can't be altered. These types of smart contracts will always follow the original rules that they were programmed with. Upgradable smart contracts allow for changes to be made, adapting to new requirements, or fixing bugs.

What are the popular use cases for JASMY?

Today, JASMY is used as a utility token to facilitate data exchange and storage and as a medium of exchange and reward for users participating in the Jasmy data marketplace, where users monetize their data securely and privately. This is accomplished via Jasmy's Personal Data Locker (PDL) technology.  JASMY token owners are typically community-driven individuals interested in IoT, data privacy, and participating in DeFi protocols.