CoinMarketCap named Jasmy Coin (JSMY) the most trending cryptocurrency on 7 February 2023. So what is Jasmy Coin, and does it live up to the hype?
They arrogantly call Jasmy “Japan’s Bitcoin,” and the infrastructure for “Decentralized Data Democracy.” Its website claims Jasmy combines blockchain with the Internet of Things (IoT) to create Data Democracy.
Hence, the Jasmy blockchain is an IoT platform that connects IoT devices and mobile apps. Additionally, the Jasmy blockchain allows users to manage IoT data. It also provides strategy and management support and secure data analysis.
IoT Business Strategy
For example, businesses can use Jasmy to create an IoT business strategy. Jasmy can provide support for product planning and other services with a centralized management system.
They claim Jasmy can connect a business’s IoT platform with devices, IoT communication modules, wearable devices. This allows access to a full suite of IoT services.
The Jasmy platform makes money by gathering, analyzing, and utilizing data the IoT collects. Hence, Jasmy is a Big Data solution for the Internet of Things. In particular, Jasmy plans to harvest data from devices, including home appliances, housing, energy suppliers, telecoms, and smart home services.
In addition, Jasmy allows individuals to store information in a Personal Data Locker (PDL) on its blockchain. They claim the PDL can identify individual users. They claim the PDLs allow secure data storage with a peer-to-peer (P2P) network.
They claim the PDL protects individual data. Jasmy makes money by charging royalties for use of the Jasmy ecosystem. They have plans for a Jasmy Secure PC that allows access to the SKC and Smart Guard.
Secure Knowledge Communicator
Jasmy’s core service is the Secure Knowledge Communicator (SKC) that allows individuals and businesses to control data. The SKC is a distributed authentication system that creates the PDLs and provides IDs for users.
Another Jasmy core service is the Smart Guardian. The Smart Guardian links ID information to the SKC and serves as an interface between IoT devices and the SKC.
Jasmy Coin (JASMY) functions as a reward for users on the Jasmy Blockchain.
Does Jasmy Coin (JASMY) have any value?
I cannot see what value Jasmy Coin (JASMY) offers because I see no evidence the IoT platform exists. Nor can I tell how Jasmy fosters Digital Democracy.
Mr. Market shares my assessment of Jasmy Coin (JASMY). For example, CoinMarketCap gave JasmyCoin a 00.6423₵ Coin Price on 9 February 2023. Conversely, CoinMarketCap gave JasmyCoin a $299.334 million Market Capitalization, a $320.904 million Fully Diluted Market Cap, and a $125.907 million 24-Hour Market Volume on 9 February 2023.
Yet traders like Jasmy Coin. CoinMarketCap gave it a $124.509 million Centralized Exchange (CEX) Volume and a $235,873 Decentralized Exchange Volume on 9 February 2023. They base those numbers on a Circulating Supply of 46.599 billion JASMY and a Maximum Supply of 50 billion JASMY. The Jasmy Coin was CoinMarketCap’s 119th ranked cryptocurrency on 9 February 2023.
I think the Jasmy Coin is all hype because I see no evidence that the IoT platform and the Personal Data Lockers exist. Instead, all this cryptocurrency offers is arrogant claims.
My advice to speculators is to stay away from Jasmy (JASMY) because I think it offers nothing. You need to avoid Jasmy because the Digital Democracy and the IoT platform appear to be fantasies.
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