Jamsy is a tokenized platform that uses blockchain and IoT technology to democratize data access. Its goal is to provide a decentralized and secure platform for users to manage and monetize their data. The platform enables users to safely and securely store and manage their data while also allowing businesses to access it with the users’ permission. JasmyCoin is an ERC-20 token based on the Ethereum network with a total quantity of 50 billion tokens.

What is Jasmy?

Jasmy, dubbed Japan’s Bitcoin, is a tokenized platform that promotes data democratization by merging blockchain and IoT technology to create an infrastructure that allows anybody to utilize data safely and securely. The Internet of Things (IoT) is a concept that embraces all hardware and gadgets, from wearables to cars and even big airplanes; it is continuously operating around, producing data that enriches our lives and benefits all users. Jasmy envisions a strong IoT platform that decentralizes and democratizes data to move away from the current centralized environment. Jasmy runs on the following principles to protect an individual’s data from IDs, application logs, and data from IoT devices during consumption, storage, and maintenance, while allowing companies to use data in various ways if approved by the relevant users.

Jasmy was established on the principle of data democracy. Every person has the right to safer and more secure personal data. Jasmy supports preserving personal information in a Personal Data Locker (PDL). PDL identifies an individual by verifying the existence of personal information. Jamsy intends to provide a platform for businesses to develop simple IoT projects that can be implemented and are ready to use. The Jasmy platform is thus a ‘place’ created through democratic decision-making in a decentralized universe rather than one determined by a central authority. The value of Jasmy stems from users’ ability to control who sees their data, what it is used for, and how it is stored. As a neutral environment where all types of enterprises, organizations, and individuals can use the data collected and developed by the Jasmy Platform, the platform can foster innovation and create a better, more secure future for everybody.

The Jasmy platform enables customers to govern and monetize their data in various ways, including via Internet of Things (IoT) devices. Jasmy Coin is a digital currency based on blockchain technology. It is intended to enable secure, rapid, and low-cost transactions worldwide. JasmyCoin (JASMY) is a cryptocurrency and tokenized platform developed by Japanese company Jasmy Corporation. Its goal is to democratize data usage by combining blockchain and IoT technology to provide a decentralized and secure infrastructure for individuals to control and monetize their data. Jasmy wants to restore data sovereignty for all through the innovative use of blockchain technology. The platform can generate decentralized and more democratic data usage, allowing users to safely store, manage, and use their data under explicit rules.

Background of Jasmy

Jasmy was founded in 2016 and developed by Jasmy Corporation. The JasmyCoin debuted in October 2021. The initiative was formed by former Sony executives, notably Kazumasa Sato, former president and COO of Sony Corporation, and Masanobu Yoshida, a well-known personality in the technology business. Sato got an economics degree in 1980 and promptly joined Sony’s information technology branch. He stayed with the organization for several years before venturing into blockchain-based data security. Ando was the president of Sony Corporation from 2000 to 2005. Many additional members of Jasmy’s leadership team have worked at Sony. The Jasmy project’s primary purpose is to empower individuals by granting them control over their data in the age of the Internet of Things. This vision is motivated by worries about data privacy and security, particularly in light of high-profile data breaches and the rising reliance on centralized data storage systems.

Early in its development, the Japanese firm secured financing for the project through an initial coin offering (ICO). It has profited from relationships with other major companies in Japan, which were partly facilitated by the leadership’s ties to Sony. In August 2023, the business announced the release of Jasmy Chain, a layer 2 solution (L2) for Ethereum that aims to promote rapid and efficient transactions. Jasmy sparked additional interest in May 2024 when it announced a collaboration between another L2 incubated by the company (JANCTION) and a Korean-based anonymous message board. Jasmy has created relationships with several companies to expand the use and integration of JasmyCoin. These relationships are primarily aimed at improving data security and management in the IoT arena. Some collaborations include Trans Cosmos, Akashi, Aplix, WITZ, and Nexstgo.

Jasmy Ecosystem

Jasmy’s platform collects data for users via IoT devices (such as wearables). Jasmy operates on its blockchain technology, which is intended to enable decentralized data management. The platform combines blockchain and Internet of Things (IoT) technologies. Jasmy’s key technology, the “Personal Data Locker” (PDL), enables users to securely store, manage, and regulate access to their data. It is an off-chain method in which files are hashed (transformed into an untraceable form) before being maintained on the blockchain, increasing security. The platform also has smart contract capabilities, allowing you to establish agreements that are automatically executed whenever certain circumstances are met. Jasmy’s platform provides the infrastructure required for a data marketplace with two parties: people who develop, collect, and own data, and businesses that want to use that data. It anticipates corporations rewarding users (via the JASMY token) for providing data. Jasmy works as an intermediary, charging firms a fee to link people with them. JasmyCoin does not rely on typical mining methods such as Proof of Work (PoW) or Proof of Stake. Instead, the tokens were pre-mined and distributed during the initial coin offering (ICO) and subsequent token sales.

Key Components of Jasmy Ecosystem

Personal Data Locker (PDL)

This personal data vault is a “content addressing” solution that enables secure file storage over the P2P network. Data files are stored in the decentralized network, and only hash values are handled on the blockchain. By integrating this decentralized storage solution with user-owned IDs, the limitations of a pure blockchain system, such as the inability to store huge files in a single block or the slowing of approval time due to high file sizes, are addressed. Users can control their own data, just like a wallet or a safe deposit box. Furthermore, Jasmy’s original blockchain technology prevents data tampering or theft, and data consumption can be tracked. Furthermore, using personal data lockers eliminates the need for contact centers to store superfluous records, resulting in optimal information management and smoother, higher-quality responses.

Secure Knowledge Communicators (SKC)

The Secure Knowledge Communicator (SKC) is the platform’s primary function, allowing us to democratize data by independently controlling, managing, and tracing our data. This service has several main functionalities, all of which make it easier to register and manage personal data. The SKC initially authenticates users as genuine people, hence performing a Know Your Customer (KYC) function. Users can then utilize SKC to enter data into their PDLs. The distributed user authentication system delivers personal data lockers to users who have completed the identification and registration procedures and generated an ID. The data created by the user’s activity on each service will be safely saved in a personal data locker over which they have authority. In addition, while sending information to a corporation, the user can control and track it and accept or prohibit its usage. Finally, the SKC enables consumers to govern and track their data.

Smart Guardian (SG)

The Smart Guardian (SG) is another essential service in the Jasmy platform that facilitates and secures the registration of IoT devices on the dispersed network while creating an environment that can only be accessed by the device’s owner. The SG is Jasmy’s proprietary technology that connects the ID information of the owner via the SKC to the ID information of the device itself. SG registers and connects user devices as a bridge between IoT and the rest of Jasmy’s functions (“Know Your Machine,” or KYM). It connects user and device-specific IDs, allowing validated data to pass through the SKC.

Jasmy Secures PC

Jasmy Secure PC may provide access control and security for access applications at the network boundary as a business remote office security escort. It brings together Jasmy’s two primary services, “Secure Knowledge Communicator (SKC)” and “Smart Guard (SG).” After months of operational testing, it has been validated for data security and operational performance, ensuring that millions of remote workers are healthy, happy, productive, and have great jobs.

Jasmy Solutions x Data Management

As the number of IoT devices grows, manufacturers in various industries, including home appliances, housing, energy suppliers, and telecommunications firms, are intensifying their efforts to deliver smart home services. Users personalize data supplied by network-enabled home devices based on their lifestyle, which includes shopping, childcare, nursing, and working environments. As a result, rules and regulations must govern the protection of personal data on these networks. Jasmy aims to deliver IoT solutions to manufacturers and home builders, expected to enter the smart home market with smart interphones, security cameras, and smart keys with low-cost and advanced security features supported by SG and IoT modules.

Payment Services

Jasmy envisions a platform in which users’ data has a wallet, similar to personal property, allowing them to store safely and actively use their valuable data in the Personal Data Locker (PDL). The payment service is more than just a deposit system; it is a one-of-a-kind incentive system that uses the PDL to give consumers long-term value. The goal is to establish a payment service that allows users to transform their activity history and other data into points, discounts, and other items that can be used like cash. Jasmy’s introduction of such payment systems will make the value of individual data more accessible to the public, paving the way for a future in which people can engage in safe, secure, and highly convenient economic activities by democratizing data.

What is JasmyCoin (JASMY)?

JasmyCoin was initially launched with the ticker JMY. However, it has lately been acknowledged as JASMY. It is a token that follows Ethereum’s ERC-20 token standard and is primarily used for value exchange on Jasmy’s platform. Users can swap their data for JASMY tokens based on their acceptable worth, allowing them to be “paid” for their data provision services. Companies that use Jasmy’s platform must pay service fees through JASMY tokens.

Token distribution

There are 50 billion JASMY tokens, of which the corporation owns 30% and intends to deploy as user rewards. Another 22% was set aside for business financing (i.e., investors), 20% for a developer plan to support new project directions, 10% for an airdrop to generate excitement, 9% for company employees and the development team, and 8% for business operations.

Uses of JamsyCoin

One of the most notable aspects of JasmyCoin is its adaptability in terms of usage cases. While other cryptocurrencies are limited to a single industry or use, JasmyCoin aspires to be a versatile digital asset that can be utilized for various purposes. Some of the potential uses for JasmyCoin include:

• Cross-border Payments: Jasmy Coin’s quick and low-cost transactions suit international remittances and cross-border transfers.
• Decentralized Applications (dApps): Developers can use smart contracts to develop applications on JasmyChain, resulting in a diverse spectrum of decentralized applications across industries.
• Asset Tokenization: Jasmy Coin can be used to tokenize real-world assets like real estate or commodities, making them easier to trade and transfer via blockchain.
• Data Transfer and Storage: JASMY enables individuals and organizations to transfer tokens utilizing digital devices as evidence of value. It allows for the secure storage of user-owned data in personal data lockers on the platform, assuring openness and fairness in data exchanges.
• Crypto Loans: JASMY can be used as collateral for cryptocurrency loans, allowing users to leverage their holdings and benefits while mitigating risk.
• Tax Optimization: Taking out a crypto loan against JASMY can help with tax optimization because there is no direct profit in the loan transaction, which reduces tax liability.

Conclusion

Jasmy offers a marketplace for data exchange between people who generate data and companies that want to exploit that data. Jasmy was founded by former Sony executives, and it was developed primarily in Japan. It builds its data economy on two fundamental components: the Secure Knowledge Communicator (SKC) and the Secure Guardian (SG). JasmyCoin is a new type of cryptocurrency that prioritizes efficiency, security, and usefulness. The JASMY token serves primarily as a vehicle of value exchange on the network, allowing users to earn prizes and monetize their data.