JasmiCoin (JASMY) Complete Analysis - Everything About Japan's Data Innovation Cryptocurrency
Introducing JASMY - Innovation in Restoring Data Sovereignty
JasmyCoin is Japan's first legal cryptocurrency, born with an innovative vision of ""democratization of data."" The core goal of this project is to return the ownership of personal data, which is currently monopolized by large corporations, back to individuals.
JasmyCoin goes beyond a simple payment method and provides a platform for safely managing and trading massive amounts of data generated in the IoT (Internet of Things) ecosystem. Its core function is to support users to directly control personal data collected from smartphones, wearable devices, smart home devices, etc. and monetize it when they want.
In particular, it has the advantage of high legal stability and reliability as it is the first cryptocurrency to be officially approved by the Japanese government. This is an important factor that differentiates it from other cryptocurrency projects.
Jasmy Coin's birth background and development history
Jasmy Coin's story began in Tokyo, Japan in 2016. It was founded by former executives from Softbank and Sony, and it was founded as Jasmy Corporation. Based on their decades of experience in the Japanese IT industry, the founders realized the importance of protecting personal data and started this project.
In February 2021, Jasmy Coin was officially launched with official approval from the Financial Services Agency (FSA). This has historical significance as the first government-approved cryptocurrency in Japanese history. From the beginning of its launch, it has established a solid foundation by building partnerships with major Japanese companies such as Toyota, VAIO, and Transcosmos.
In the second half of 2021, it began to receive international attention as it began to be listed on global exchanges. In particular, investor interest has surged after being listed on major exchanges such as Binance and Coinbase.
• 2016: Establishment of Jasmi Co., Ltd.
• 2019: Start of development of data locker platform
• 2021: Approval by Japan Financial Services Agency and official launch of token
• 2nd half of 2021: Listing on major global exchanges
• 2022~present: Expanding corporate partnerships and promoting commercialization
Jasmi Coin's innovative operating principle
Jasmi Coin's technical structure is very sophisticated. At its core is a PKI (Public Key Infrastructure) system consisting of two main components: the Data Locker and the Skill Credential.
The Data Locker acts as a personal vault that securely stores all of an individual’s digital data. Users can store their health data, location information, purchasing patterns, and more here, and have complete control over who can access what data and when.
The Skill Credential acts like a digital ID that proves the user’s identity and authority. Using blockchain technology, forgery and tampering are impossible, and only the range of information desired by the user can be selectively disclosed.
• Edge Computing: Direct data processing between devices without a central server
• Distributed Storage: Maximize security by distributing data across multiple nodes
• Smart Contract: Automatically executes conditions when data is traded
• Zero-Knowledge Proof: Verify data validity without exposing personal information
For example, health data collected from a smartwatch is stored in the user's data locker, and medical institutions or insurance companies can access this data with the user's explicit consent when they need it. At this time, the Jasmy Coin (JASMY) token is paid as a data usage fee.
Actual Uses and Applications of Jasmy Coin
The practicality of Jasmy Coin has already been proven in various fields. The most notable area is healthcare data management. Personal health data is highly sensitive and has high value to medical professionals, insurance companies, and research institutes. Through the JasmiCoin platform, patients can safely manage their own medical data while generating revenue when necessary.
In a pilot program conducted in one area of Japan, residents were reported to have provided data on their daily movement patterns and received an average of 5,000 yen worth of JASMY tokens per month.
The retail industry is also using JasmiCoin to provide customized services using customer purchasing patterns and preference data. Customers can provide their own data and receive discounts or token rewards.
Complete Guide to JasmiCoin Exchanges
JasmiCoin is currently available on major exchanges around the world. Each exchange has different features and pros and cons, so it is important to choose carefully.
Binance is the world's largest exchange and has the largest JASMY trading volume. It supports various trading pairs (JASMY/USDT, JASMY/BTC, JASMY/ETH) and futures trading is also possible. The fee is around 0.1% and Korean language support is also good.
Coinbase is the largest exchange in the US and is highly safe due to strict regulatory compliance. It provides an interface that is easy for beginners to use, but the fees are somewhat high.
Upbit is the largest exchange in Korea and has the advantage of being able to trade KRW directly. Supports KRW/JASMY trading pairs, allowing you to trade immediately without a currency exchange process.
• Beginners: Coinbase or Upbit (easy to use)
• Active traders: Binance (low fees, various functions)
• Long-term holders: Recommended to use hardware wallets in parallel
• Select after checking trading volume and spread
When trading, it is important to check the trading volume. Be careful because prices may fluctuate greatly when buying/selling in exchanges with low trading volume. It is also recommended to check the deposit/withdrawal policy of each exchange in advance.
JasmiCoin Community and Ecosystem
JasmiCoin has an active community worldwide. We share information through various channels, from official communities to unofficial fan communities.
Official channels include the official JasmyCoin homepage (jasmy.co.jp) and Twitter account (@JasmyCoinGlobal). Here, you can check project updates, partnership news, and technology development status. You can communicate with community members in real time through the official Telegram channel.
The r/JasmyToken community on Reddit is the main communication space for English-speaking investors. In-depth discussions are held, including technical analysis, price outlook, and project analysis. In Korea, there are Korean communities active in Naver Cafe and Discord channels.
• Official website: jasmy.co.jp
• Twitter: @JasmyCoinGlobal
• Reddit: r/JasmyToken
• Telegram: Official Jasmy Channel
• Discord: Jasmy Korean Community
The advantage of participating in the community is acquiring the latest information and exchanging information with other investors. In particular, technical updates and partnership news are often the fastest to spread through the community. However, it is important to always check the information in the community against the official source.
The JasmyCoin team regularly conducts AMA (Ask Me Anything) sessions to directly answer questions from the community. This increases the transparency of the project and strengthens communication with investors.
Wallet Guide for Safe Storage of Jasmi Coin
Choosing the right wallet is very important for safely storing Jasmi Coin. Jasmi Coin is an ERC-20 token based on the Ethereum network, so it can be stored in most wallets that support Ethereum.
Hardware wallets are the safest storage method. Ledger Nano S/X, Trezor Model T, etc. support Jasmi Coin. Hardware wallets store private keys offline, so there is almost no risk of hacking. However, the initial setup is somewhat complicated and the price is around 100,000 won.
MetaMask is the most widely used among software wallets. It supports both browser extensions and mobile apps, and it is easy to use, so even beginners can use it easily. Trust Wallet is also a popular wallet in the mobile environment.
• Keep your seed phrase (recovery phrase) in a safe place
• Do not store your private key online
• Avoid suspicious links or DApp connections
• Update your wallet software regularly
• Store large amounts in a hardware wallet
Exchange wallets are convenient, but are not recommended for security reasons. If you intend to hold them for a long time, it is recommended to transfer them to a personal wallet. If you trade frequently, store only a portion of your total assets in an exchange and the rest in a personal wallet.
When choosing a wallet, consider security, convenience, and compatibility. Security is the top priority, but it is important to choose a wallet that suits your skill level and intended use.
Risks you must know before investing in JasmiCoin
If you are considering investing in JasmiCoin, you must be aware of the potential risks. Cryptocurrency investment carries with it significant risks along with the potential for high returns.
The biggest risk factor is extreme price volatility. JasmiCoin has fallen more than 90% from its all-time high since its launch. Since it is affected by the entire cryptocurrency market, it may fall along with the price fluctuations of Bitcoin or Ethereum.
Technical risks should also be considered. Since many technologies have not yet been fully commercialized, there is a possibility that the project may fail due to technical issues or the emergence of competing technologies. There may also be regulatory or legal issues related to data security.
• Extreme price volatility (can fluctuate by ±50% within 24 hours)
• Risk of delayed technology commercialization
• Market shock due to regulatory changes
• Decrease in market share due to the emergence of competing projects
• Liquidity risk due to lack of trading volume
Recommendations for investment: First, invest only within the range that you can afford to lose. It is recommended to limit it to 5-10% of your total assets. Second, consider a strategy of purchasing in installments instead of investing all funds at once to lower the average purchase price.
Third, regularly monitor the progress of the project and check the status of technology development or partnership news. Fourth, it is important to make investment decisions based on objective analysis rather than emotional judgment.
Lastly, it is recommended to diversify your investments not only in JasmiCoin but also in other cryptocurrencies and traditional assets to diversify your risk. Investing heavily in one asset can be very risky.