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JasmyCoin Frequently Asked Questions

What Is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is the native cryptocurrency of the Jasmy platform, a project developed by Tokyo-based Jasmy Corporation, which specializes in the Internet of Things (IoT). The platform is designed to empower users by giving them full control over their personal data through the innovative use of IoT technology combined with blockchain. The primary objective of JasmyCoin is to create a secure and decentralized environment where users can store, manage, and share their data as personal assets, ensuring privacy and security in the digital age.

The Vision and Mission of Jasmy

Jasmy aims to address one of the most pressing issues of the digital era: data privacy and sovereignty. By creating a platform that decentralizes data management, Jasmy seeks to return control of personal information to the users themselves. The platform allows for secure data exchanges between IoT devices (such as smartphones, cars, and computers) and decentralized protocols, enabling a trustless environment where personal data can be monetized or used according to the user's preferences.

Who Founded JasmyCoin?

Jasmy was established in April 2016 by a team of former Sony executives, bringing with them a wealth of experience in technology and business leadership. The founding team includes:

  • Kunitake Ando – Representative Director of Jasmy and former President and COO of Sony Corporation.
  • Kazumasa Sato – President and COO of Jasmy, and former CEO of Sony Style.com Japan Inc.
  • Masanobu Yoshida – Former Deputy President and CTO of Jasmy
  • Hiroshi Harada – CFO of Jasmy and Executive Financial Analyst at KPMG.

Under their leadership, Jasmy has grown into a significant player in the IoT and blockchain sectors, with partnerships with major companies like Transcosmos, Panasonic, and VAIO.

Unique Features of JasmyCoin

JasmyCoin stands out in the crowded cryptocurrency space by focusing on data sovereignty and security. Here are some of its unique features:

  • Data Sovereignty – the Jasmy platform allows users to retain ownership and control over their personal data. Users can choose how and when their data is shared, transforming information into personal assets.
  • Secure Data Exchange – Jasmy enables secure data transactions between IoT devices and service providers. By leveraging blockchain technology, it ensures that data exchanges are conducted in a trustless and decentralized manner.
  • Decentralized Infrastructure – JasmyCoin operates on a decentralized infrastructure, ensuring that data management is secure and trustworthy.
  • Compliance and Security – the JasmyCoin network is fully compliant with Japanese regulations, which are among the strictest in the world regarding cryptocurrency transactions. This compliance provides an additional layer of security and legitimacy to the platform, ensuring that users' data and investments are protected.

How Does JasmyCoin Work?

At the core of JasmyCoin's functionality is the combination of blockchain and IoT technologies. Here's how it works:

  • Personal Data Storage – User data is securely stored on the Jasmy network using IPFS technology, which decentralizes the storage and access of data.
  • Security Knowledge Communicator (SKC) – before accessing the platform, users must register and verify their identity. Once verified, they can manage and track their data transactions. Service providers and companies can only access this data with explicit permission from the user.
  • Smart Defender (SG) – this tool ensures that IoT devices connected to the network are securely registered and managed, protecting users from unauthorized access or data breaches.

How Is the JasmyCoin Network Secured?

JasmyCoin is built on the Ethereum blockchain, using the ERC-20 standard. The smart contracts underpinning the network were audited by SlowMist, a leading blockchain security firm, ensuring the integrity and security of the platform. Additionally, JasmyCoin's compliance with Japanese financial regulations further strengthens its security posture, providing users with confidence in the platform's reliability and legal standing.

What is Staking in JasmyCoin (JASMY)?

Currently, JasmyCoin does not offer a traditional staking mechanism. However, the platform focuses on providing value through the secure and decentralized management of personal data. Users can leverage their data as assets, which can be considered a form of investment similar to staking, but with the added benefit of full data sovereignty.

Where Can I Buy and Store JasmyCoin (JASMY)?

JasmyCoin is available on several major cryptocurrency exchanges, including BITPoint Japan, where it was first listed. As an ERC-20 token, JASMY can be stored in any Ethereum-compatible wallet, including hardware wallets like Ledger and Trezor, or software wallets like MetaMask.