JasmyCoin (JASMY) is the cryptocurrency initiative of Jasmy Corporation, a Tokyo-based Internet of Things (IoT) service provider. The Internet of Things as a system consists of mechanical and digital components with unique identification and data transmission capabilities. As an IoT company, Jasmy focuses on data trading and connects service providers and data users through its platform.
The Jasmy platform is designed to restore and protect the sovereignty of individual data by combining IoT and blockchain technologies, giving individuals full control over their personal data. The main goal of the project is to create a secure environment on the platform where users can reliably exchange data between Internet of Things devices (computers, cars, phones) and decentralized protocols.
The Jasmy developers aim to create an infrastructure that enables end-users to use data in a secure, efficient, and simple way. Jasmy’s goal is to provide its customers with a robust infrastructure, a user-friendly interface, and a secure environment for storing and sharing data. With the Jasmy platform, data can be transformed into personal assets.
Jasmy decentralizes the process by storing data on IPFS and using edge computing (InterPlanetary File System). The concept of the project focuses on the democratization of data using a decentralized paradigm, where data is securely protected and controlled by an owner, and where service providers have the ability to market their services/businesses using data (owned by users).
Who Are The Founders of JasmyCoin?
Jasmy was founded in Tokyo in April 2016 by a number of former Sony executives, including 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 (Vice President and CTO of Jasmy, retiring as of December 2021), and Hiroshi Harada (CFO of Jasmy and Executive Financial Analyst at KPMG).
JasmyCoin (JASMY) was launched on the Japanese marketplace BITPoint Japan in October 2021. JASMY is an ERC-20 token that powers the Jasmy platform serves as the network’s primary utility token and is integral to the development of the overall Jasmy ecosystem.
The company has partnered with key players in the digital industry including Transcosmos, Panasonic, and VAIO.
The Future of Cross-Border Payments in Tokyo
JasmyCoin (JASMY) is a digital asset developed by Japan’s largest gift card exchange, Jasmy, which is seeking to provide a gateway for crypto exchanges in Tokyo by offering a stablecoin that is pegged to the Japanese yen, enabling users to easily trade between JASMY and other cryptocurrencies with minimal transaction fees, as well as facilitating cross-border payments and reducing the risk of currency fluctuations.
JasmyCoin is backed by actual Japanese yen held in a bank account, with each JASMY token being equivalent to one yen, making it a stablecoin that offers security and reliability for users. The token can be bought and sold on the Jasmy exchange, as well as other cryptocurrency exchanges, and can also be used to purchase gift cards or pay for other services on the Jasmy platform.
In addition to providing a stablecoin for use in crypto trading, Jasmy is also exploring the use of blockchain technology to improve the efficiency and transparency of its gift card exchange services, with plans to integrate JASMY into its existing system to further streamline the process of buying and selling gift cards.
Overall, JasmyCoin is an innovative digital asset that is poised to play a significant role in Tokyo’s growing crypto ecosystem by providing a stablecoin that offers a reliable gateway to crypto exchanges and a range of other services.
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