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What Is Jasmy Coin (JASMY) And Its Future in Crypto?

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Jasmy Coin has picked up a lot of chatter in the blockchain sphere recently, and many crypto-enthusiasts even wonder if JasmyCoin can reach the $1 mark in the future or if it is a good project. Let’s get into more detail about t this project

Key Takeaways

  • JasmyCoin (JASMY) is an organization that develops Internet of Things (IoT) devices, platforms, and decentralized data lockers that secure storage areas for individuals’ data.
  • The project is moving toward a goal of decentralizing data storage systems and networks.
  • The idea is to provide a platform for individuals to manage their data and a secure platform for doing so.

What Is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is a cryptocurrency built on the Ethereum blockchain that lets users control the personal data stored on devices. You can keep your data secure in a “data locker” and even share it with companies for JASMY tokens, giving you ownership and potentially earning you a profit for your data. The project aims to create a data-sharing ecosystem where users are in control and can potentially profit from their information.

How Does Jasmy Coin (JASMY) Work?

Jasmy doesn’t directly store large amounts of data on the blockchain for storage reasons. Here’s how Jasmy leverages blockchain for data security and management:

Data Locker And User IDs

Jasmy uses a Secure Knowledge Communicator (SKC) technology, which relies on blockchain. SKC assigns unique IDs to users and creates “data lockers” for them. These lockers act like secure vaults on the Jasmy network where users can store their data.

Decentralized Storage And Tracking

The data files are stored in a decentralized network, separate from the blockchain. Jasmy likely uses a system like IPFS (InterPlanetary File System) for this. However, the blockchain keeps track of the data’s location and ownership through tamper-proof records. This ensures the data hasn’t been tampered with, and users can prove they are the rightful owner.

Smart Contracts And Access Control 

Jasmy utilizes smart contracts and self-executing programs on the blockchain, and users can set permissions for who can access their data lockers and under what conditions.

Jasmy uses blockchain for secure data management, not directly storing the data itself. The blockchain is a secure ledger for user IDs, data locker locations, and access control rules. This combination allows users to maintain control and privacy of their information.

Jasmy Coin (JASMY) Token And Tokenomics

Tokenomics

The JASMY token is the native cryptocurrency of JasmyCoin. It is used for:

  • Transaction Fees
  • Data Ownership 
  • Data Sharing

Token Details

Total Supply 50,000,000,000 JASMY

Circulating Supply 49,299,999,677 JASMY

Current Price $0.01917

Market Capitalization $958,529,321

This information is current as of March 22nd, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • Ecosystem Fund (48%)
  • Funds and Institutional Investors (27%)
  • Contributors and Communities (20%)
  • Incentive Programs (5%)

Where Can I Buy JasmyCoin (JASMY)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

KuCoin KuCoin is a smaller exchange known for its competitive fees and support for many cryptocurrencies.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Is JasmyCoin (JASMY) A Good Investment?

Pros

  • Legally compliant – JASMY is the first cryptocurrency to be officially registered with the Japanese Financial Services Agency, making it compliant with some of the strictest regulations in the world. This could provide stability and trust for investors.
  • Strong partnerships – Jasmy has established partnerships with major Japanese companies like Sony and NTT DATA, which could potentially drive the platform’s adoption and usage.
  • First-mover advantage – Being the first mover in the Japanese-regulated crypto market could give Jasmy a significant regional advantage.

Cons

  • Limited use cases – Currently, the practical applications of Jasmy’s technology are still limited, and it’s unclear how widely it will be adopted.
  • High competition – The cryptocurrency market is highly competitive, and Jasmy faces competition from established players and other projects focusing on data privacy.
  • Tokenomics  – The distribution of JASMY tokens is somewhat centralized, with a large portion held by the founding team and advisors.

Final Thoughts

JASMY entitles individuals and organizations with data sovereignty, ensuring transparency, security, and user control. However, potential investors should conduct thorough research, considering both the opportunities and risks in the crypto markets. As the project continues to pave the way towards a more secure and democratized data ecosystem, its journey remains one to watch closely.

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