Ethereum-Powered Altcoin Project Erupts Over 70% After Sudden Support From Crypto Exchange Binance

An altcoin project created by several former top executives at Sony is rallying after earning support from Binance, the world’s largest crypto exchange by trading volume.

The data democratization platform JasmyCoin is built on Ethereum, and its native token JASMY allows holders to profit from their own aggregate user data.

The platform is designed to power a digital marketplace that allows users to sell information generated by Internet of Things (IoT) devices to corporate enterprises.

The token JASMY serves as the central payment currency within the ecosystem.

Following news of the coin’s listing on Binance, JASMY witnessed a swift 71% rise in price – from $0.14 to $0.23.

JASMY’s value has retraced to $0.20 at time of writing.

A recent JASMY blog post explains how the project intends to balance data sharing with privacy protection.

“JASMY has issued a cryptocurrency to democratize data. The goal of JASMY is to make all users aware that user data is valuable… [and] let users enjoy the rewards earned by sharing data.

‘We are currently developing an application that will enable unconscious characteristic data related to people’s interests and behavior to be attributed to individual users in a secure manner and to be used appropriately,’ said [CFO Hiroshi] Harada.

Data is dubbed the ‘oil of the 21st century.’ The grand blueprint for empowering data with more value while ensuring data privacy has just begun.”

The major functional components are the Data Marketplace, Secure Knowledge Communicator (SKC), device registrar called Smart Guardian (SG) and JasmyNet where authorized companies only may participate.

Binance says JASMY will be paired with Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD) and Tether (USDT).

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/iurii/Vladimir Sazonov