What Is Carry (CRE)?
Online and mobile commerce markets have grown rapidly in the recent years, but overall commerce remains dominated by the $25 trillion offline market . According to a study by AT Carry, 90% of all retail spending by American consumers took place in offline stores, illustrating that people still spend most of their money in real brick-and-mortar stores. Unsurprisingly, major online giants are making significant investments into offline businesses.
Amazon’s $14 billion acquisition of Whole Foods reflects the strategic importance of linking online with offline. This is not just an American phenomenon, with Asian companies like Alibaba and Carry also moving into offline with multi billion dollar purchases of shopping centers and hypermarkets.
Carry Storage Key Points
|Circulating Supply||8.79B CRE|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Every business has a data silo problem
It is relatively easy to identify consumer data in the online domain to execute and track the effectiveness of advertising. However, this is more difficult in the offline market because consumer data is split between different players and cannot be consolidated. Figure 1 illustrates instances of how credit card transactions made in a store is split between credit card companies (Visa, Master card, American Express, etc.), merchants (X and Y), and point-of-sales software companies (1 and 2).
Carry Credit card companies know the customer, location, and transaction amount but do not know what the customer purchased. On the other hand, the merchants and point-of-sales software companies know what the customer purchased, location, and transaction amount but not the identities of the customer.
Marketing is inefficient and lacks transparency
Marketing campaigns are usually conducted on channels with a large number of consumers, allowing them to charge a massive fee based on the sheer size of their viewer base. But despite the high marketing costs, there is no way of truly knowing how many people were exposed to the ad or how effective it was. Advertisers have no choice but to trust the results provided by the channel. There are also very few channels with a large consumer base, so advertisers end up relying on a few channel owners like Facebook and Google.
Consumers have no control of data
Consumers have no ownership or control over their data. Millions of accounts on Carry were exposed in the 2017 hack, but consumers were left at the mercy of the data holding entities. Beyond security, data is often monetized without the knowledge or consent of the very people generating this data. When signing up for new services, consumers typically pay no attention to terms that allow corporations to use and monetize data, and agree to these terms.
For example, Apple’s iTunes Terms & Conditions is nearly 7,000 words long, or the approximate length of this paper, and the document renders users’ data rights to Apple’s discretion. The very consumers enabling data monetization are left out of profits generated from their activities.
Coupon and point management is a hassle
From a consumer’s standpoint, there are too many coupons to manage offline. A large number of stores still use paper coupons, and many of them end up in a drawer somewhere beyond their expiration dates. Even electronic coupons are managed separately on different apps by different stores and brands. Although there are apps that consolidate coupons and points to resolve this issue, it is still inconvenient for consumers to use.
The offline retail market is subject to the largest technological disruption. The Carry Team believes that the introduction of blockchain technology and its innovative ecosystem in the offline market will help overcome the above challenges and offer more benefits to all participants.
Carry Team’s Mission
The Carry Team aspires to innovate the offline commerce market by using blockchain technology to solve the aforementioned issues. Based on its experience conducting business in the offline market and securing 10,000 partner merchants with 15 million consumers, the team wishes to resolve the inefficiencies of the offline domain through the following.