Since 2021, the data management-focused cryptocurrency, JasmyCoin price has shown a downward trend. On 2 December 2022, the price of one JASMY token was close to USD 0.004482.
Jasmy has secretly begun working with several of its competitors. Jasmy's whitepaper claims the protocol has worked with Sony VAIO (6758) to create bank-ready computers with maximum security. Together with Toyota (7203), Jasmy is developing a platform to collect information about tourists that could be useful for autonomous vehicles.
In this article, let us find out more about this special cryptocurrency, Jasmycoin, and understand if it is a worthy investment or not.
JasmyCoin: what is it?
The Jasmy protocol's native token is JasmyCoin. This is a cryptocurrency used for payment on the Jasmy Network. JASMY is an ERC-20 token that may be used on the Ethereum platform. It's a token, not a coin, despite the misleading moniker. To keep things simple, we'll keep calling it JasmyCoin, even though it's technically incorrect to speak about something like a "Jasmycoin price prediction."
How does Jasmycoin work?
Jasmy relies on numerous crucial technological elements and aspects to accomplish its objectives -
Saving metadata
Code, text, information, photographs, videos, motion, and audio can all be safely stored for metaverse uses using IoT, encryption technologies, and distributed storage. This is made possible through Jasmy's use of the InterPlanetary File System (IPFS) and a "personal data locker." Data in a P2P network is dispersed via this approach.
The identification document
Jasmy is a decentralized identification solution that is personal, permanent, and easy to manage independently. This service gives customers an on-chain digital identity and easy access to their data. Any protocol serious about data storage must include a blockchain-based method for establishing digital identities.
Games with believable settings
The Jasmy protocol makes creating and storing Non-Fungible Tokens (NFT) in the form of characters, equipment, skins, and other metaverse game assets possible. This way, users can monetize their information by purchasing and selling NFTs and cryptocurrencies on secondary markets.
Connected machines and tools
The ability to completely lose oneself in the Metaverse is a major feature. Therefore, tools for the Internet of Things (IoT) and virtual reality (VR) are crucial. The Jasmy protocol can be utilized with Internet of Things (IoT) technologies, sensor modules, AR devices, and VR headsets.
What is the utility of JasmyCoin?
Although Jasmy Corporation has a firm foothold in the information economy, the coin known as JasmyCoin has an enigmatic function.
To paraphrase, "data utilization businesses are required to hold JasmyCoin to access users' personal information stored on the Jasmy platform." Simply put, Jasmy's data services require you to hold a certain quantity of the JASMY money, the exact value of which is kept secret.
Service providers can utilize the JASMY coin to reward customers for sharing private information. Because of this, Jasmy believes a market will emerge, with the value of data rising as its demand rises and, in turn, drive up the price of JasmyCoin.
Forecasts for the value of JasmyCoin
At the beginning of 2023, analysts predicted that one JasmyCoin would be worth approximately USD 0.003863.
The algorithm-based website Wallet Investor predicted the long-term JASMY crypto price would fall to USD 0.000313 in 2023.
According to some experts, the price of one JasmyCoin in 2025 will range from USD 0.00009042 to USD 0.0000617.
Many are more optimistic about JASMY's long-term price performance. They predicted a price of USD 0.0632 in 2030, based on the expected cost of JasmyCoin.
In the long-term, however, they do not expect the Jasmy token's value to rise over its current USD 4.99 record high during the next decade.
Where does Jasmy want his company to go?
Jasmy plans to have 107 million active users worldwide by 2020, with each user's data worth USD 500. This is according to the JasmyCoin roadmap. Other "regions of focus" outside Japan include Singapore, China, and Korea.
Regardless of whether you think JasmyCoin will succeed or fail, if you want to put money into it, you should do your research.
Conclusion
Always do your due diligence before putting your money into cryptocurrency tokens. Before making any investments, it's important to consider technical and fundamental research, market trends, news, and expert opinion about Jasmycoin's price.
