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Key information (August 9, 2022)
- Circulating Supply — 4,754,930,780
- Total Supply — 50,000,000,000
- Sector — Internet of Things (IoT) and Data Democratization
- Token Type — ERC-20 Native
- Token Usage — Governance and Utility
- Consensus Algorithm — N/A
- Launch date: 26.10.2021
- All-time high — $4.99
- ATH Date — 16.02.2021
- Market Cap — $47,435,957
What is JASMY?
JASMY is a blockchain protocol built on the Ethereum network dedicated to expanding data democratization in the Internet of Things (IoT). By combining advanced encryption, distributed data storage, and blockchain technology, JASMY is facilitating new connections between human-derived information and emerging Web3.0 environments. The JASMY ecosystem uses an ER-20 governance and utility token, JasmyCoin, for both network and dApp functions.
In an era where most user data is controlled by four major tech companies, JASMY seeks to revert that power dynamic back in the user’s favor. While concepts of the metaverse are still in their nascent stages, JASMY is attempting to block some of surveillance capitalism’s more pernicious qualities from taking root in the next wave of online expression. Part firewall, part digital storage unit, JASMY is pioneering data sovereignty for those invested in owning their own data.
Core use cases of JASMY
In some ways ahead of its time, JASMY is intended to work in tandem with real-world and metaverse environments to capture and preserve user data. By combining data from smart devices and other IoT infrastructure with decisions made online, on-chain, and in the metaverse, JASMY offers users a complete profile of their own data to use at their own discretion.
Personal data collected in the JASMY ecosystem is stored in “digital lockers” accessible only to the user. Referred to in their white paper as a “Decentralized Data Democracy,” the entirety of the JASMY ecosystem is a safe haven for users to recognize the value of their own data. In the spirit of generating new visions and innovations for the future, JASMY empowers individuals to wrest control from Big Data and assert a stronger presence in the growing Web3.0 environment.
The Issues that JASMY fixes
With the rise of Big Data, four major tech companies have metastasized to control the bulk of online activity. Google, Facebook, Amazon, and Apple enjoy immense profit margins by leveraging unmitigated access to user data. Whether it’s sensitive biometrics from a smartphone or watch, consumer preferences, or data exhaust from location services, all of it can and will be monetized, often without user consent.
Additionally, network infrastructure itself has made these caches of user data vulnerable to leaks and hacks. When systems rely on monopolized, centralized locations, sensitive data like username/password combinations and other identifying information is made vulnerable to bad actors. Not only is personal data being siphoned off and used for profit without user consent, it’s also warehoused improperly, putting users at greater risk.
How does JASMY work?
That’s why JASMY is seeking to return data sovereignty to the people. With the metaverse arms race in full effect, JASMY is carving out a safe space for users to generate data across an array of smart devices, online services, and dApps without losing their autonomy. In turn, users can select how, when, and what to share with third parties or peer-to-peer across the network. JASMY achieves these functions by deploying Secure Knowledge Communicator (SKC) and Smart Guardian (SG) technology.
Secure Knowledge Communicator (SKC)
SKC is the network’s core service as it enables key features of the JASMY ecosystem. In order to transition from an enterprise-dominated arrangement to a customer-oriented posture, JASMY opts to give users complete control of the information they share with the network. Staying true to their aversion to centralized systems, JASMY stores all user data, including identifying KYC information in each user’s digital locker. That way, from the moment users begin interacting in the JASMY ecosystem, they immediately start retaining control of their own information. Users receive unique codes to access their information and have the power to regulate where and when their information is shared. From here, SKC spirals outward to dovetail with another critical piece of network infrastructure: Smart Guardian.
Smart Guardian (SG)
Where SKC works to protect and index user information, SG facilitates secure connections between user data and devices associated with that user. Once SKC runs Know Your Machine, or KYM, an authentication program, user data is seamlessly transferred from across smart devices and stored in their digital locker. This helps ensure smart devices, appliances, vehicles, homes, or any other node in the IoT can establish a secure connection with the network should the user seek to permit access.
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