Notably, the crypto sphere has, since its recent boom, continued to witness thousands of crypto assets, projects, and innovations. Despite the level of volatility ravaging the space, its expansion rate is still rapid. This is, however, occasioned by the consistent increase in the number of crypto projects greeting the space as well as their adoption. The beauty of this development is that it avails investors trooping into the space with numerous options to explore depending on their investment objectives. Without equivocation, one of those crypto assets available to potential and existing investors is the Jasmy coin.
Just like other forms of cryptocurrencies, the Jasmy coin is one of the numerous crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn more about the rudiments of Jasmy coin, background, and potential.
An overview of Jasmy coin
According to findings, the Jasmy Coin runs as a ERC-20 utility token. The asset is built on the Ethereum blockchain. Designed as the native coin of Jasmy protocol, the asset, just like its contemporaries serves as a tool for paying transaction fees on the network. The crypto possesses a whitepaper which critically explain its uses and potentials.
According to the whitepaper, the tokens serves as a medium of payment for companies intending to explore personal information or other corporate information on its native protocol. More so, Jasmy coin can be exchanged for goods or services that are of equivalent value on Jasmy’s co-operators platforms. The whitepaper also revealed that companies using the network pay for the services with Jasmy coin. Similarly, individual users receive payment with the asset for revealing personal information to enterprises.
Issuance of Jasmy coin
According to its whitepaper, its developers initially issued over 50 billion Jasmy coin. Its distribution commenced with the issuance of 30% of the tokens as rewards to persons who permit third parties to use their data. Additionally, 13% was used as an airdrop to corporate customers of the protocol. The team also allocated 18% for the developer program and 14% for “business operating funds, return on investor relations, legal and tax consulting fees, commission fees.” 20% of the Jasmy coin became allocated to business financing, which includes commission payments, service charges, and credit repayment. Lastly, incentive programs take 5% of the coin allocation.
Without a doubt, Jasmy coin remains the first crypto to emerge as a Japanese compliant asset. As of press time, the crypto remains listed on the Japanese cryptocurrency exchange.
Jasmy coin’s native protocol
As earlier stated, Jasmy coin possess a native protocol, identified as Jasmy platform. According to findings, this platform runs as a decentralized data management protocol. Its uses are accurately spelt out in the wallpaper. As revealed, Jasmy protocol avails users with numerous data management services, thereby allowing them to “regain data sovereignty for each individual so that everyone can use their data safely and securely.” The whitepaper further that the inefficient utilization and exploration of customers’ personal data by companies necessitated the emergence of Jasmy. With the protocol, companies secure an effective mechanism to utilize the data well.
Still justifying the emergence of the project, its whitepaper said the protocol helps to secure data from various vulnerabilities, including leakage and compliance violations. According to findings, the platform functions using blockchain and internet of things (IoT) technologies. These technologies, as reported, paves the way for the protocol to seamlessly store users’ data in customized digital lockers.
Its whitepaper hinted that, “today, manufacturers from a wide variety of industries including home appliance, housing, energy suppliers and telecommunication companies, are accelerating their business to realise smart home services. Therefore, it is important to have rules and regulations in place for the protection and use of data on these network devices and their security, as well as related personal data.”
The usage of SKC in Jasmy protocol
Worth noting that Jasmy protocol uses Secure Knowledge Communicator (SKC) for its personal data locker service. With the SKC, users are able to easily store and control their personal data. As designed, companies who intend to utilize personal data of individuals must seek permission from the owners.
Today, Jasmy protocol now avails data management solutions for IoT devices. It also assist emerging companies in managing highly sensitive and confidential information. This, according to its website is termed Secure Enterprise Service.
The root of Jasmy coin
The root of the Jasmy coin and its native protocol can be traced to the capital city of Japan, Tokyo. As discovered, the protocol is managed by Jasmy Incorporated firm situated in the city. As of press time, Kazumasa Sato, a notable investor, remains the president of the firm. A few findings about Sato revealed that he previously worked as a chief executive of Sony Style.com Japan Inc.
Also, Kunitake Ando remains the representative director of Jasmy incorporated. As reported, Ando previously served as the president of Sony. Similarly, Takashi Hagiwara currently heads the software development of Jasmy. Just like Ando and Sato, Hagiwara also served as a deputy head of VAIO & mobile business group at Sony. More so, the appointment of Hagiwara remained geared towards achieving robust software development. He looks to lead the team in building an integrated system from basic technology development.
Also, Jasmy coin on its website recently announced Tadashi Morita as its Chief Security Officer. This means the security expert currently leads the security and safety of the data. A proven blockchain expert, Sheng Guo, also manifested as one of the important management members of the protocol. According to Jasmy coin website, he leads the development team of the protocol. As reported, the development team usually works to secure a consistent global operation and enhance its technical development for the future.
Numerous partnership deals by Jasmy
Worth noting that Jasmy has, since its emergence, continued to partner with numerous multinational firms to devise technological solutions. For instance, Jasmy collaborated with Sony to develop high-security computers. These computers are designed for banks and other financial institutions. It also partnered with automobile company Toyota to develop a mechanism to record the tourist data for Hokkaido local region in Japan. Just a few months ago, it collaborated with MetaVisa, an Ethereum-based metaverse protocol. As reported, the collaboration manifested to develop a bridge to facilitate interoperability between blockchain ecosystems through (NFT).
Last March, it collaborated with NEXSTGO, an Hong Kong-based PC developer. The partnership, as reported, manifested to develop seasoned models enveloped with Jasmy Secure PC concept. Additionally, Jasmy protocol collaborated with Mystiko.Network, a multi-chain privacy SDK, in April. This partnership allows the verification of users and devices to be done without relaying personal data to communication network intermediaries. Worth noting that about two months ago, it collaborated with Sagan, a Japanese football club, to develop a fan token.
Early this year, Jasmy unveiled its mission plans to extend the scope of its offerings beyond Japan. According to its roadmap, it aims to secure a global presence in North America and Asia. More so, the protocol wants to extend its reach to US and Asian countries. This, according to the protocol, tends to help secure the collaborations and investments of blockchain projects to enhance the Jasmy coin.
Features Of Jasmy and its protocol
One of the unique characteristics of the Jasmy coin remains that it’s directed by a protocol that offers advanced customer protection. As the utility token of the platform, the Jasmy coin appears bound to attract more utility due to the nature of its protocol. Jasmy, as a platform, allows users to send information to companies using IoT gadgets. This interaction comes with the return of services in a protected manner. This interaction mandates users of the services to utilize the Jasmy coin as the utility token of the platform.
The Jasmy coin ecosystem champions a decentralized system with unique data management built on establishing a good level of security and trust. The ecosystem is an interaction-oriented one, it has a data processing strategy that encourages the end-to-end encryption of customers’ information. The system of encrypting messages helps provide double-pivot protection. This implies that the system gives no room for information leakages.
Meanwhile, the Jasmy coin manifested to champion this course. The Jasmy coin ensures a high level of security in the market while implementing the effective deployment of IoT devices. Thus, kicking against the alarming rate of fraudulent activities in the market. Similarly, the Jasmy coin ecosystem assists firms and projects in designing a mechanism for making decisions democratically in a decentralized community. In this Jasmy coin ecosystem, users can explore data for their use. This remained geared toward contributing to and enhancing the protocol.
Jasmy coin has grown astronomically in recent times, particularly due to its consistent partnerships with actors within the sphere. However, the sustainability of that growth remains in doubt. The token appears highly volatile and responsive to market conditions. Just within the past months, it lost over 89% of its value and seems likely to lose more later. Nevertheless, it won’t be surprising if the token recovers and gather heavy momentum in the coming months considering the ongoing efforts by its developers.