Is JasmyCoin (JASMY) Halal or Haram?
Shariah compliance review of JasmyCoin (JASMY) by Islamic finance scholars at EthicalNode, with separate verdicts for trading and for staking.
Trading verdict: Comfortable
JasmyCoin is the native token of the Jasmy platform, a Japan-based initiative that empowers users to control the use of their personal data and get compensated for sharing it. Essentially, data generated from IoT devices, such as smartphones and tech wearables, is securely stored in data lockers on the Jasmy platform. Merchants can pay to access these data lockers using JasmyCoin, facilitating a fair exchange of data while ensuring user privacy and control. Sharlife.my Analisys: The underlying projects for JasmyCoin (JASMY) are in line with Shariah principles.
Staking verdict: Non-Comfortable
To our knowledge, JASMY cannot be staked, as we do not currently recognize JasmyCoin as a proof-of-stake network. This means that users are unable to earn staking rewards through traditional staking mechanisms associated with proof-of-stake cryptocurrencies. The other forms of deposit with fixed yield or deposits on CEX's that claim to be "staking" for this protocol is better to avoid, because it would not be actual Proof of Stake protocol.
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