The internet has surely made our daily lives easier and safer. But with its rising use, there are also concerns about data privacy and misuse of user data. Large tech companies control a significant part of the internet traffic and have access to complete user data, which they employ to earn profits—often by violating user privacy rights. This is where Jasmy makes a difference through the use of blockchain technology.
Its philosophy is to promote data democracy and return control of data to the hands of users. Here’s a crypto project that encourages the growth of internet services without violating the privacy rights of users.
- Coin Rank: #376
- Coin Market Cap (as of 20th April 2022): $106.7 million
- Coin Economics: Fixed supply
- Coin Total Supply: 50 billion JASMY
- Coin Circulating Supply: 4.75 billion JASMY
Technical Analysis: JASMY Price Analysis
The overall outlook remains weak for JASMY, which is trading significantly below its launch price. The 20-EMA* slope on the daily chart has become a strong resistance level in the short term, and it needs to break above 20 EMA and 50 EMA with strong buying momentum to move higher and reverse the bearish trend.
*Exponential Moving Average
A Brief About Jasmy
Jasmy is a blockchain-based platform that develops decentralized IoT (Internet of Things) platforms. The project is the brainchild of Jasmy Corporation, a Tokyo-based IoT provider headed by ex-Sony executives, including former president Kunitake Andō.
Jasmy’s primary objective is to achieve data democracy and build a decentralized world where user data is well protected, offering users full control over their data. It provides a safe environment where users can store, save, and exchange private information with data utilizers based on their preferences as owners.
How Does Jasmy Work?
Currently, centralized servers owned by large tech companies own, analyze, distribute, and monetize user data without user consent and sharing revenue. Jasmy combines conventional IoT technologies with blockchain technology to empower its users so they can store their data in a blockchain-based personal digital locker. This way they have full control over their private data.
The network uses InterPlanetary File System (IPFS), which combines a Security Knowledge Communicator (SKC) with Smart Defender Technology to allow users to track data with more security. And the Smart Guardian (SG) feature, which is the core feature of the platform, facilitates easy and secure registration of IoT devices on the distributed network
The SKC feature makes it possible for users to authorize third-party data utilizers, trace transactions, and understand how they are using the data. In return, the third-party data utilizers incentivize users, thus allowing data owners to maximize the value of their personal data.
JasmyCoin is the utility token of this ecosystem. For users to take advantage of the Jasmy ecosystem and protect their data, they need to hold and spend in its token. Similarly, companies need to pay users in this coin if they wish to use their personal data or the platform.
There is a fixed supply of 50 billion tokens, of which 48% are allocated to the ecosystem fund, 27% to investors, 20% are earmarked for the community, and 5% for incentives. And the circulating supply is 4.75 billion.
JasmyCoin Future Growth Potential
Jasmy has a unique business model—one that prioritizes a shift of power from centralized data systems to the hands of users.
Over the long term, JJasmy wants to increase and maximize the value of personal data so that any particular set will let the user earn $500 in revenue over their lifetime. Furthermore, going by the estimate provided by Jasmy Corporation, it wants to have 107 million active global users, most from the Asian market.
If JASMY grows along these lines, the price of its token is likely to rise. However, the performance of the JasmyCoin is also dependent on the usage and rate of adoption of IoT devices, so one can’t be too sure.
Nevertheless, it’s an exciting and versatile project for users to explore.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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