ICO Spotlight: Carry Protocol Will Connect Data For Merchants, Customers

Blockchain, ICO News, News | June 27, 2018 By:

Carry Protocol is a platform aiming to disrupt the $25 trillion offline commerce market. The project identifies three problems in this field: customer data is fragmented and incomplete, customers do not control or profit from their personal data, and offline advertising is outdated and increasingly ineffective. Carry Protocol aims to solve these problems via a platform enabling merchants to connect directly with customers, enabling customers to monetize and control their own data, and allow for updated advertising techniques that connect with people based on their data and increased, incentivized engagement. 

The components of the Carry Protocol are as follows: the off-blockchain Carry Device API communicates with the Carry Transaction Database on the protocol’s blockchain. The Carry Wallet API is also off-chain and communicates with the on-chain Carry Smart Contract which communicates with the issuance and use of CRE (Carry tokens) and BT (branded tokens) on-chain. The wallet API enables wallet apps to support Carry Protocol and enables users to manage funds, transaction data, and privacy settings. The device API enables stores to process payments through the protocol. This enables stores to offer loyalty rewards in the form of their own branded cryptocurrency (for example, an outlet could offer $5 worth of their BT for a $50 transaction, incentivising the customer to return). The customer simply gives the store their phone number to receive the tokens. Carry Protocolcan then offer CRE in exchange for the customers transaction data in the store (store location, price and nature of goods/services, etc.) Merchants on the Carry Protocol can offer discounts when customers pay with CRE, allowing CRE to act as a reward for data and also as a targeted marketing tool. CRE can be purchased by companies looking to advertise to people based on their complete data set instead of blanket-advertising with keyword ads through platforms like Facebook, allowing for more efficient targeted advertising.

Carry Protocol offers value to merchants and customers by incentivizing customers to optionally provide their data in exchange for store discounts. Stores can use the protocol to offer loyalty rewards and businesses can launch more effective advertising campaigns, leaving the protocol poised to disrupt offline commerce. [MORE]

The Carry Protocol summary was originally published on the Amity Blog. The Amity editorial team of cryptocurrency experts and writers predominately covers whitepaper summaries of ICOs and long-form articles about topics that interest their community.

Read more about this and other ICOs at BlockTribune’s ICO Wiki