What Is Jasmy Coin and How Does It Work in 2024?

Jasmy Coin is an ERC-20 token enabling a decentralized data marketplace for IoT and Web3. It has experienced significant price growth in 2024.

Written by: Anatol Antonovici   |  Updated June 24, 2024

Reviewed by: Mike Martin

Fact checked by: Ryan Grace

Jasmy Coin has been making waves in 2024 after years of dormancy. Read on to discover the story behind ‘Japan’s Bitcoin.’

Table of Contents

🍒 tasty takeaways

  • Jasmy Coin is an ERC-20 token powering a data marketplace for IoT and Web3 use cases.

  • The Jasmy project was founded in Tokyo by former senior Sony executives in 2016.

  • The price of Jasmy has surged in 2024 by over 300%.

Summary

Protocol Details
Jasmy Coin Overview ERC-20 token, decentralized data marketplace for IoT and Web3, 300% growth in 2024.
Founders and Origins Founded by former Sony execs, democratizes data via blockchain and IoT.
Data Sovereignty Decentralized network, user-controlled data, contrasts corporate data usage.
Platform Components Includes Personal Data Locker (PDL), Secure Knowledge Communicator (SKC), Smart Guardian (SG).
Creation and Team Founded in 2016, launched Jasmy Coin in 2021, developed by ex-Sony and KPMG execs.
Tokenomics and Performance 50B supply, 99% circulating, significant price movements in 2024, $1.35B market cap mid-June.
Investment Potential High supply, strong performance, potential growth with rumored NVIDIA and Ripple partnerships.
Market Availability Available on Coinbase, Binance, Uniswap.

What Is Jasmy Coin?

Jasmy Coin (JASMY or Jasmycoin) is a cryptocurrency project developed by Japan-based company Jasmy Corporation, focusing on Internet of Things (IoT) technologies.

IoT comprises devices and digital elements with identifiers that enable connection and communication with other devices and systems. Data is a key element in IoT, often overlapping with other data-driven sectors, such as artificial intelligence (AI).

Despite being developed by Jasmy Corporation, the crypto project is decentralized and public. It leverages the Ethereum network as the underlying infrastructure for its digital currency.

Jasmy is a tokenized platform that aims to democratize data. It merges blockchain technology and IoT to offer an infrastructure where anyone can use data safely and fully control it.

jasmy screenshot

Source: Jasmy

Regaining Data Sovereignty

The goal of the crypto project is to bring back data sovereignty.

“We believe in every person’s right to safer and more secure personal data."

The platform offers a decentralized and trustless environment where users can exchange data for IoT and Web3 use cases.  

Jasmy Coin is used as a medium of exchange and payment in the data-oriented ecosystem.

The decentralized data network gives users full control over their data, enabling them to store and use it securely. This is an alternative to how corporations use data, which can infringe on user privacy. 

For example, in 2018, Facebook (now Meta) was fined $5 billion by the Federal Trade Commission (FTC) for improper treatment of user data.

How Does Jasmy Work?

Jasmy offers a decentralized platform that connects data providers (users) with merchants and companies willing to use this data to improve services.

The core element of this ecosystem is the Personal Data Locker (PDL), a place where each user can store personal data and benefit from proof of ownership. Users can decide by themselves whom to share PDL data with.

On the other side, service providers can leverage data without accessing personal information.

Jasmy receives a royalty in exchange for providing the platform while users are rewarded in Jasmy Coins for sharing data powering IoT services.

Source: Jasmy Global

Other key components include:

  • The Secure Knowledge Communicator (SKC) allows users to control and manage personal data. It facilitates ID verification and authorizes and controls data use.

  • Smart Guardian (SG) enables the registration of IoT devices on Jasmy’s decentralized network.

How and Why Was Jasmy Created? 

Jasmy Corporation was founded in 2016 in Tokyo by former Sony and KPMG executives, including:

  • Kunitake Ando – Representative Director of Jasmy. He was the 7th President of Sony Corporation, working on projects like the VAIO notebook, Xperia smartphone, and Sony Life Insurance.

  • Kazumasa Sato – President and COO at Jasmy. He was the CEO of Sony Style.com Japan Inc.

  • Masanobu Yoshida was Jasmy’s CTO until the end of 2021.

  • Hiroshi Harada – CFO at Jasmy. He is a former executive financial analyst and auditor at KPMG.
jasmy founders

Source:  X

The team has been developing the decentralized network for years and launched the Jasmy Coin on BITPoint Japan, a popular crypto exchange, in 2021.

Even though JASMY is an ERC-20 token on Ethereum, it is nicknamed Japan’s Bitcoin because it was created in Japan and has become the country’s largest crypto project. The team, proud of being a Japanese product, suggested the nickname.

Jasmy Coin Tokenomics and Performance

Let’s get into tokenomics. JASMY is the utility token of the Jasmy platform, playing a key role in the network’s economy and data marketplace.  

The token’s total supply is 50 billion units, and almost 99% are already in circulation, reducing the risk of dilution.

Token Performance in 2024

jasmy performance

Source: TradingView

The smart contract on Ethereum was created in 2019, while the token launched in 2021 for $1.3. Eventually, the price of Jasmy coin quickly exploded to set an all-time high at $4 within a few days but eventually lost traction and collapsed 99% in the following weeks due to the issuance of new tokens. Jasmy touched an all-time low in December 2022 at $0.0027.

It has been dormant for years, showing signs of revival in 2024. At the beginning of this year, JASMY was trading at $0.06. Since then, it has experienced two major bull runs:

  • At the end of February, the Jasmy token soared from $0.006 to $0.024.

  • At the end of May, the Jasmy coin price surged from $0.020 to $0.4 early in June, reaching the highest price this year, while the market cap hit a record $2 billion.

As of mid-June, JASMY has a market cap of $1.35 billion, ranking 60th on Coinmarketcap. While the current price has corrected to $0.027, the token has outperformed Bitcoin (BTC), Ethereum (ETH), and the broader crypto market since the beginning of 2024.

Is Jasmy Coin a Good Investment in 2024?

With a circulating supply of 99%, there is no risk of dilution. This implies you may wan to add the coin to your watchlist in 2024.

The great performance in the year’s first half has been driven by Jasmy’s partnerships with the likes of Panasonic and Transcosmos, as well as the updated roadmap that hints at AI plans.

As of this writing, rumors of partnerships with NVIDIA and Ripple provide further support. However, these crypto news rumors have no official confirmation. If these speculations materialize, the price may rise to reach the $1 mark.

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