What is Carry (CRE)

Exploring Carry Protocol ($CRE): Empowering Web3 Through Data Ownership

Introduction

In the evolving landscape of the crypto industry, new projects continue to emerge with innovative solutions that aim to bridge the gap between merchants and consumers. Among these, Carry Protocol ($CRE) stands out as a Web3 native advertising platform that seeks to reshape the dynamics of data ownership and communication in digital transactions. By leveraging blockchain technology, Carry Protocol not only empowers users but also introduces a novel advertising channel that emphasises transparency and effectiveness. This article delves into the intricacies of Carry Protocol, exploring its goals, workings, and the people behind it.

What is Carry Protocol ($CRE)?

Carry Protocol is a cutting-edge blockchain-based platform designed to facilitate direct interactions between merchants and consumers. Its primary objective is to enhance data management and communication by allowing consumers to take control of their transaction information. The platform consists of two integral components:

1. Blockchain Component

This aspect encompasses the Carry transaction database and Carry smart contracts. The transaction database serves as a decentralised repository where consumers can upload their transaction data securely. In parallel, the smart contracts are pivotal in governing the issuance and utility of tokens within the ecosystem, notably the Carry tokens (CRE and BT).

2. API Component

The API infrastructure consists of the Carry Wallet API and the Carry Device API. The Wallet API empowers users by enabling wallet applications to support the Carry Protocol, enhancing privacy settings and transaction control. Conversely, the Device API allows stores to use devices capable of interacting with the protocol, facilitating cryptocurrency payments and ensuring seamless data integration to user wallets.

Creator of Carry Protocol ($CRE)

Carry Protocol was co-founded by Grant Sohn and Richard Choi, who both serve as the organisation's co-CEOs. The competent team includes key figures such as Jungwon Yu, who leads Business Development, as well as a talented group of product designers: Heeyeun Jeong, Jisun Park, and Young Kang. Additionally, the technical dimension is bolstered by developer Minjune Kim, who is instrumental in the project’s ongoing innovations.

Investors of Carry Protocol ($CRE)

Carry Protocol has achieved significant financial backing, raising a total of 47,000 ETH during its token sale conducted between August 26 and September 4, 2018. Although the total available for public purchase was pegged at 10 billion CRE, specifics concerning the foundations or organisations that have invested in this project remain vague. The absence of publicly known investors leaves much to speculation; however, the robust funding during the token sale undeniably highlights investor interest in the protocol's vision and potential.

How Does Carry Protocol ($CRE) Work?

1. Payment Process

The core functionality of Carry Protocol revolves around enhancing transaction processes. When consumers purchase goods or services, they have the versatility to opt for various payment methods, whether fiat or cryptocurrencies. Merchants utilise interactive devices, such as tablets, to relay transaction data to customers, who then have the option to upload this information to the blockchain through their wallets.

2. Data Management

At the heart of Carry Protocol lies the fundamental principle of “consumer data ownership.” Users wield complete authority over their data, enabling them to choose the extent of information they share, safeguarding their privacy. With embedded anonymity shields and robust data encryption, the protocol prioritises user confidentiality and integrity.

3. Incentives

A distinctive feature of Carry Protocol is its rewards system, wherein consumers are incentivised with CRE tokens from the Carry Token Pool for uploading their transaction data. This unique strategy serves a dual purpose: it nurtures customer loyalty while providing advertisers with insightful transaction information to effectively target potential consumers with relevant advertisements.

Timeline of Carry Protocol ($CRE)

The trajectory of Carry Protocol is marked by several significant milestones:

• August 26, 2018: Launch of Carry Protocol’s token sale, igniting interest within the crypto community.
• September 4, 2018: Completion of the token sale, subsequently raising 47,000 ETH, establishing a solid funding base for the protocol.
• Ongoing Development: Continuous growth and adaptations as Carry Protocol evolves to satisfy both merchant and consumer needs in a dynamic digital landscape.

Key Features of Carry Protocol ($CRE)

Carry Protocol showcases an array of features that underscore its innovative nature:

• Consumer Data Ownership: The protocol empowers users to maintain control over their own transaction data, reversing traditional paradigms of data ownership.
• Transparent Advertising: It introduces a fresh advertising platform that builds trust through transparency, ultimately enhancing advertising efficacy.
• Blockchain-Based: Securely connecting consumers and merchants, the platform leverages blockchain’s decentralised nature, fostering direct transactions.
• Reward System: By rewarding users with CRE tokens for data uploads, Carry Protocol effectively creates a loyalty-driven ecosystem.
• Privacy Protection: The protocol employs robust strategies for protecting consumer data, affirming its commitment to user privacy.

Conclusion

Carry Protocol ($CRE) embodies a forward-thinking approach to the intersection of data ownership and advertising in the Web3 environment. By prioritising consumer control, security, and innovative advertising solutions, the project not only addresses existing gaps in the market but also sets a foundation for future developments in the crypto space. As the digital landscape continues to evolve, Carry Protocol stands poised to make a lasting impact, fostering a more equitable environment for both merchants and consumers alike. With a dedicated team of creators, substantial initial funding, and a robust structure, Carry Protocol promises to be a significant player in the growing narrative of decentralised finance and consumer empowerment. The journey of Carry Protocol is still unfolding, and its impact on the cryptocurrency and advertising industries remains to be fully realised.