What is JasmyCoin (JASMY)?

JasmyCoin (JASMY) emerges as a cryptocurrency initiative from Jasmy Corporation, a Tokyo-based Internet of Things (IoT) provider specializing in the procurement and sale of data. Operating within the realm of the Internet of Things, which encompasses digitally and mechanically equipped elements with unique identifiers capable of data transmission, Jasmy focuses on bridging two essential categories—service providers and data users.

At its core, the Jasmy platform represents a convergence of IoT and blockchain technologies, engineered to uphold the sovereignty of individual data. By empowering users with absolute control over their personal information, the platform seeks to establish a secure environment for trustless data exchange among IoT devices such as computers, cars, and phones, along with decentralized protocols.

Jasmy's overarching mission is to craft a user-centric ecosystem, offering a secure, intuitive interface and robust infrastructure for seamless data utilization. By transforming information into personal assets, Jasmy endeavors to reshape the landscape, democratizing data through a decentralized model. This approach ensures that data remains securely protected and owned by its rightful proprietors, while service providers gain the opportunity to enhance their services and businesses by leveraging user-owned data.

Jasmy implements decentralized workflows through edge computing and opts for data storage on the InterPlanetary File System (IPFS). The project's philosophy revolves around the democratization of data, fostering a decentralized model where data ownership is preserved, and service providers can promote their offerings using user-owned data.

Who are the founders of Jasmy?

Established in April 2016 in Tokyo, Jasmy was founded by a team of former Sony executives, including Kunitake Ando, who serves as the Representative Director of Jasmy and was the former President and COO of Sony Corporation. Other key figures in the founding team include Kazumasa Sato, President & COO at Jasmy and Former CEO of Sony Style.com Japan Inc., Masanobu Yoshida, Deputy President & CTO at Jasmy (retired as of December 2021), and Hiroshi Harada, CFO at Jasmy & Executive Financial Analyst at KPMG.

In October 2021, JasmyCoin (JASMY) made its debut on the Japanese exchange BITPoint Japan. Functioning as an ERC-20 token, $JASMY serves as the primary utility token within the Jasmy ecosystem, playing a crucial role in powering the platform.

Jasmy has strategically collaborated with prominent entities in the digital industry, forming partnerships with major players such as Transcosmos, Panasonic, and VAIO.

What makes Jasmy Coin unique?

In the contemporary digital landscape, Jasmy is tackling several key challenges:

• User Confidentiality and Data Management: Jasmy ensures user privacy and grants individuals the right to control their data. Through IoT devices, users securely transmit information to companies in exchange for services.

• Data Processing Policy: Jasmy implements a robust data processing policy, ensuring proper information gathering for customers while preventing data leaks.

• Decentralized Infrastructure: Jasmy establishes a decentralized infrastructure that prioritizes security and trust in data management.

• JasmyCoin aims to elevate market safety and security, leveraging active IoT device usage to mitigate fraud risks.

Explain the Operational Mechanism of Jasmy Coin.

• User data is securely stored in a personal data repository.

• The Jasmy network employs IPFS (InterPlanetary File System) technology, incorporating the Security Knowledge Communicator (SKC) and Smart Defender.

• SKC activation involves user registration and identity verification, enabling transaction tracking and data management.

• Investors and companies gain permission to use owners' personal information at this stage.

• The Smart Guardian (SG) service ensures secure registration of IoT devices.

Through these mechanisms, Jasmy strives to establish a secure and trustworthy environment for data exchange, reducing the vulnerability to fraudulent activities.

Explain the network security of Jasmy Coin.

The JASMY smart contract was successfully deployed on the Ethereum blockchain in December 2019. Following the deployment, Jasmy took a proactive step to ensure the security and integrity of its smart contract by engaging SlowMist, a prominent blockchain security firm. SlowMist specializes in providing cybersecurity auditing and protection services for digital assets, major exchanges, and crypto-wallets. The audit results can be accessed through the provided certificate, affirming the solidity and reliability of the JASMY smart contract.

JasmyCoin, being a Japanese cryptocurrency, adheres meticulously to the legal requirements outlined by Japanese legislation. The regulatory framework in Japan is stringent, especially concerning cryptocurrency transactions, warranting compliance with rigorous financial audits. Jasmy asserts its status as a legal platform, subject to official registration, aligning its operations with regulatory standards. This legal framework endows the JASMY token with characteristics akin to shares or securities, holding implications for investors' and users' savings. Jasmy is cognizant of the accountability it bears, as Japanese law empowers regulatory bodies to revoke licenses and enforce liability in cases of violations that may compromise investor and user funds.

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