Carry

The history of Carry (CRE) is marked by significant milestones and developments. Carry Protocol, the platform behind the CRE token, was launched in 2018 with a seed round of financing involving five investors, including One Block Capital, Kenetic, and Elysium Venture Capital.

In 2021, Carry Protocol introduced the Carry Wallet, a digital wallet that supports the storage, sending, and receiving of CRE tokens. This wallet also allows users to earn rewards that can be redeemed at Korean merchants using the Dodo Point, a leading tablet-based loyalty platform in South Korea and Japan. The integration of Carry Wallet and Dodo Point bridges the gap between the crypto and real worlds, showcasing the product’s scalability.

Carry Protocol aims to transform offline commerce by leveraging blockchain technology. It addresses three major challenges in offline commerce: fragmented customer data, lack of consumer control over data, and outdated advertising methods. The platform focuses on the $25 trillion offline commerce market, which has been slower to adopt technological advancements.

The CRE token has been listed on various exchanges, including Gate.io, where it was launched on August 6, 2021. It is also supported on Coinbase Wallet, although it is not available for trading on the Coinbase Exchange.

Throughout its history, Carry Protocol has prioritized simplicity and usability, with recent updates simplifying staking functions and expanding the array of goods and services available to users. The platform continues to evolve, integrating blockchain technology with Web2 and Web3 games, data analysis, and ad placement.

Carry (CRE) is a cryptocurrency that operates on the Carry Protocol, a blockchain-based platform designed to transform offline commerce by bridging the gap between merchants and consumers. Here's how it works:

1. Transaction Initiation: When a consumer makes a purchase at a store, the transaction is facilitated through a device, such as a tablet, which is connected to the Carry Protocol. This device can be a part of the store's point-of-sale (POS) system or a separate device.

2. Data Transmission: The device sends the transaction data to the consumer's wallet app. The consumer can then choose to upload this data to the blockchain, maintaining control over their data and privacy settings.

3. Reward System: As an incentive, consumers are rewarded with CRE tokens for uploading their transaction data. These tokens can be used for various purposes, including loyalty programs and targeted advertising.

1. Targeted Advertising: Advertisers can leverage the uploaded transaction data on the blockchain to create targeted and effective advertisements. These ads are transmitted in the form of branded tokens (BT), which can be redeemed by consumers.

2. Consumer Control: Consumers have the option to receive ads and set a minimum threshold for CRE rewards to avoid spam or unwanted advertisements.

1. Carry Transaction Database: This is a virtual database on the blockchain where transaction data is stored. It serves as the foundation for the entire Carry Protocol ecosystem.

2. Carry Smart Contracts: These digital contracts manage the issuance and usage of CRE and BT tokens, ensuring seamless interactions between merchants, consumers, and advertisers.

3. Carry Wallet API: This interface enables wallet apps to support Carry Protocol, allowing consumers to manage their cryptocurrency, transaction data, and privacy settings.

4. Carry Device API: This API connects devices at stores to the blockchain, facilitating cryptocurrency payments and data transmission.

Carry Protocol utilizes blockchain technology to ensure a secure, transparent, and tamper-proof record of transactions. Each block in the blockchain contains time-stamped and encrypted information that cannot be altered once validated through peer-to-peer review. This technology provides a robust and reliable framework for the Carry Protocol ecosystem.

Carry (CRE) can be bought, held, and traded on various cryptocurrency exchanges, including centralized exchanges like KuCoin and decentralized exchanges. Investors can leverage margin trading to amplify their trades, and the cryptocurrency can be stored securely in digital wallets.

The token Carry (CRE) has several strengths that contribute to its potential success and value:

1. Blockchain-based Advertising Platform: Carry Protocol operates as a blockchain-based platform, connecting offline merchants and consumers. This technology enables transparent and effective advertising, which is a significant improvement over traditional offline advertising methods.

2. Empowering Consumers: Carry empowers consumers by giving them control over their transaction data and allowing them to monetize it. This approach addresses the issue of corporations exploiting consumer data without consent.

3. Robust Data Management: Carry provides merchants with comprehensive customer data, facilitating effective communication and targeted advertising. This data management system helps bridge the gap between offline and online commerce.

4. Multi-Functional Token: The CRE token serves multiple purposes, including payment for services, rewarding ad viewing, and facilitating product transactions. Additionally, token holders can participate in community voting, further enhancing the platform's functionality.

5. Real-World Rewards: The Carry Wallet integrates digital assets with real-world rewards, allowing users to earn and redeem rewards at participating merchants. This integration bridges the gap between the cryptocurrency and real-world economies.

6. Strong Development Team: The development team behind Carry Protocol is formed by the founding team of Spoqa, a successful South Korean startup company focused on customer loyalty and marketing solutions. This experienced team brings a wealth of knowledge and expertise to the project.

7. Seed Financing: Carry completed a seed round of financing in 2018, securing investments from prominent investors such as One Block Capital, Kenetic, and Elysium Venture Capital. This financing demonstrates the confidence of investors in the project's potential.

These strengths collectively contribute to Carry's potential for growth and adoption in the cryptocurrency market.

Carry, specifically in the context of Commercial Real Estate (CRE), is exposed to several financial risks. These risks include:

1. Counterparty Credit Risk (CCR): This is the risk that the counterparty to a transaction could default before the final settlement, leading to an economic loss. CCR creates a bilateral risk of loss, where the market value of the transaction can be positive or negative to either counterparty.

2. Rollover Risk: This is the amount by which expected positive exposure is understated when future transactions with a counterparty are not included in the calculation of expected positive exposure.

3. General Wrong-Way Risk: This arises when the probability of default of counterparties is positively correlated with general market conditions, leading to increased risk during times of market stress.

4. Credit Valuation Adjustment (CVA): This is an adjustment to the mid-market valuation of a portfolio of trades with a counterparty, reflecting the market value of the credit risk due to any failure to perform on contractual agreements.

5. One-Sided Credit Valuation Adjustment: This adjustment reflects the market value of the credit risk of the counterparty but does not reflect the market value of the credit risk of the bank to the counterparty.

6. CRE Credit Risk: This is a significant risk for banks, particularly community and regional banks, which have increased their market share in the CRE market. Higher interest rates and lower liquidity have challenged credit availability, and loan pricing has increased. The risk is further exacerbated by the large volume of CRE loans coming up for refinancing in the next few years, which may face higher interest rates.

7. Systemic Risk: The concentration of CRE loans on bank balance sheets creates a systemic weakness, as a downturn in the CRE market could spread through interlinkages among banks, insurance companies, REITs, and private lenders.

These risks highlight the importance of careful risk management and diversification strategies for investors and financial institutions involved in the CRE market.

• Grant Sohn and Richard Choi: Co-CEOs of Spoqa, the successful South Korean startup company that founded Carry Protocol, which launched the CRE token.