What is JasmyCoin?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 4 min
In short
JasmyCoin is the token used in an IoT and personal-data project run by Jasmy Incorporated, a Japanese company founded in 2016 by former Sony executives. Its stated aim is to let individuals keep control of the data their devices generate and share it only with parties they choose. The token itself is an ERC-20 issued on Ethereum.
Key points
- Issued by an operating company in Japan and listed on domestic exchanges
- Frames its goal as 'democratising data' — individuals holding their own IoT data
- Publishes product concepts such as a Personal Data Locker and Secure Knowledge Communicator
- The token is an ERC-20 on Ethereum, not a token of its own chain
Definition
An Ethereum token used in the project of Jasmy, a Japanese company aiming to let individuals manage and share the data their IoT devices generate.
The problem Jasmy points to is that data generated by people and their devices accumulates with platform companies rather than with the people themselves. The company's stated aim is to return that data to individuals so they decide who receives what.
Its published components are a Personal Data Locker, which keeps data encrypted under the individual's control, and a Secure Knowledge Communicator, which handles device registration and authentication. The design described puts access rights and transaction records on-chain while the data itself stays in distributed storage or with the user.
The token's role is as payment within that system, for data exchange and service usage. Jasmy does not run its own chain; because the token is an ERC-20 on Ethereum, sending it requires ETH for gas.
In a Japanese context, it is known as one of the few tokens issued by a domestic operating company and listed on domestic exchanges. The company has announced pilots with local governments and businesses and tie-ups with appliance makers, though which of these are running in production has to be checked release by release.
Watch out for
- · Announced concepts and services actually in operation need to be read as separate things
- · The token has a single corporate issuer, so that company's business decisions and continuity affect it
- · As an ERC-20, transfers require Ethereum gas paid separately in ETH
Frequently asked questions
Does a Japanese issuer make it safer?
A clearly identified issuer is not the same thing as price or business stability. Listing on a Japanese exchange involves a review process, but that does not guarantee price behaviour or that the roadmap will be delivered.