JasmyCoin
Crypto Overview
Overview
JasmyCoin (JASMY) is a Japanese cryptocurrency project founded by former Sony executives that aims to create a decentralized data management platform focused on IoT (Internet of Things) devices. The project's core mission is to return data ownership to users while enabling businesses to utilize this data through proper compensation and user consent.
Intended Utility
The primary purpose of JASMY is to serve as the native token for the Jasmy Platform, which includes several key components: Personal Data Locker (PDL) for secure storage of personal data, Smart Guardian (SG) for IoT device management, and Secure Knowledge Communicator (SKC) for secure data sharing. The token is used for data transactions, platform governance, and incentivizing network participants.
Actual Utility
The project has established partnerships with notable Japanese companies and is actively developing its infrastructure. Real-world implementations include data management solutions for companies like Transcosmos and Nexstgo. The development team maintains regular updates and improvements to the platform.
Token Distribution and Governance
Total supply is 50 billion JASMY tokens. The distribution includes allocations for development, business development, marketing, and ecosystem growth. The project maintains transparency through regular updates and detailed technical documentation. While early token unlocks caused price volatility, the team has demonstrated continued commitment to development.
Technology and Revenue Model
The platform operates on Ethereum blockchain technology, focusing on secure data management and IoT integration. The revenue model is based on legitimate business operations, including data transaction fees and platform usage fees, without relying on interest-bearing mechanisms.
Compliance Assessment
The project's focus on data privacy, security, and legitimate business use cases aligns with Islamic principles. There is no involvement in prohibited activities, and the platform's utility serves a clear technological and social purpose. The token represents actual ownership in the platform's ecosystem and facilitates real value exchange.
Crypto Impact
To assign a comfort level investing in JasmyCoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to JasmyCoin.
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