Why We Invested In Cere Network
Master Ventures is very proud to announce our recent investment in Cere Network, alongside Binance Labs, Arrington XRP Capital, NGC, Fenbushi, and Kenetic Capital. Cere is the first decentralized blockchain data network solution built on Polkadot that hopes to revolutionize the CRM industry by providing privacy, security, interoperability, and an open-source philosophy.
Master Ventures is a Venture Studio that believes in radically transforming the way our species lives and operates through blockchain and other disruptive technologies. We invest in projects we believe in and use our expertise and know-how to develop them further, make them grow, and prepare them for potential mass adoption.
The Current State Of Consumer Data
Cere Network caught our eye because of its plan to free businesses and consumers from the “jaws of big tech” where giant companies, such as Facebook, Apple, Amazon, Netflix, and Google have not only managed to position themselves as middlemen but also the gatekeepers of consumer data.
Today, such companies collect data from consumers, store it and sell it back to businesses. This effectively gives them so much power that it enables them to charge sky-high fees to share consumer data en masse, and maintain a firm grip over the process.
There are growing concerns over such companies’ behaviors that have a monopoly over most of our online activity and the data that we mindlessly provide through their systems. This is why the data industry needs rapid reform to protect consumer interests and level the playing field to take power away from tech giants who relentlessly control global data flows.
Cere Networks Vision For The Future Of Consumer Data
Cere Network aims to solve this problem by creating a decentralized data network (DDN) that anyone can access or contribute to securely, and with integrity. The network provides consumers with more control over the visibility of their personal and behavioral data and deploys various customized compliance tools that enable businesses and their customers to have multiple levels of data visibility stored on top of the DDN.
Cere’s DDN also empowers enterprises to share user data but to do so in a way where they retain ownership over the data. By using Cere, businesses, application owners, technology vendors, developers, validators, and consumers alike can take part in the Cere’s Decentralized Data Cloud, where they can securely store customer data. By using Cere’s blockchain-based data solution, the security, anonymity, and integrity of customer data is protected and shared only with permission by a limited number of parties. This ensures that consumers no longer need to think about what centralized big tech platforms with vested interests are doing with their personal information and general behavioral data.
By using Cere Network’s DDN, both businesses and stakeholders in the data economy will be able to own their data and collaborate directly with each other, thereby cutting out the big tech middlemen. For example, suppose Fitbit, an American consumer electronics and fitness company, wanted to gather data from individuals who use the NIKE fitness app. In that case, they can pay NIKE directly through the Cere Network to gain access to this data without having to pay “big tech” companies like Facebook or Google to target them.
Why We Invested in Cere Network
Cere Network will leverage Polkadot to deliver a data solution like no other, essentially changing how global data is gathered, stored and used from business to consumer. Moreover, its development as the first cloud data platform on the Polkadot ecosystem will allow enterprises building on Polkadot to accelerate and utilize its customer data solutions.
At Master Ventures, we are watching the Polkadot ecosystem very closely and are growing our investment portfolio to include many more projects being built on this blockchain platform. Polkadot provides several advantages including limitless scalability, an adaptable consensus mechanism, upgradeability, pooled security, and low transaction fees. One of a kind projects like Cere don’t only have access to all of these exceptional features but can be integrated with ease into other projects and applications being built on the network through its unique “parachain” feature.
Cere network’s vision to take control away from “tech giants” to disrupt the way both data and information flow between entities will provide a new level of data privacy, security, and interoperability to businesses and consumers alike. In a world that is constantly evolving, having more control over data that is processed by technology must be a priority; and should have permissions that can be set and are accessible to the user. The Cere network is a means for businesses to be more ethical in the ways that they share, use and gather consumer data. This is why we are very excited to invest and work with Cere Network so we can not only deliver the benefits of a decentralized data network built on Polkadot but also change the culture behind the data industry.
About Master Ventures
Master Ventures is a blockchain-focused venture studio, helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
About Cere Network
Cere is the solution that relieves businesses of the growing, aching pain in customer data management. Cere is an ethical environment that will help any business develop their own decentralized customer data cloud on top of a blockchain-powered decentralized data network, built from the ground up around privacy, security, interoperability, and an open-source philosophy. Blockchain and distributed ledger technology (DLT) are the key components of Cere’s differentiation and unique value proposition because they provide the technical foundations for Cere’s Decentralized Data Storage (DDS) and peer-to-peer data collaboration environment.
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