Parami

Parami Protocol is a technology firm operating in the Web3 space, focused on creating a decentralized and equitable advertising landscape. The company was launched in 2021 by co-founders Dorian Wu and Tienan Chen. Parami aims to address inefficiencies and privacy concerns prevalent in traditional digital advertising by building what it terms "AD 3.0," a user-centric, tokenized advertising economy.

The core of Parami's offering is a protocol stack built on Substrate, designed to function as a parachain within the Polkadot and Kusama ecosystems. This infrastructure facilitates a privacy-preserving network where users are rewarded for their attention and data. To achieve this, the company utilizes Decentralized Identity (DID) and Zero-Knowledge Proof (ZKP) protocols, allowing users to maintain control over their personal information. The Parami DID (PDID) solution is compatible with W3C DID standards and enables users to create a self-sovereign identity without undergoing traditional KYC processes. This identity is linked to a homomorphically encrypted crypto advertising preference (PCAP) document, which manages a user's advertising privacy settings.

The business model revolves around creating a new type of advertising economy. For users, it turns their attention and data into a digital asset they can control and monetize. For advertisers and developers, Parami provides tools to reach highly targeted audiences in a transparent manner through dynamic, smart-contract-powered advertising solutions. The company offers a developer SDK to integrate on-chain advertising capabilities, opening new revenue streams for DApps. The protocol also integrates AI, NFTs, and DeFi elements. One of its notable developments is the proposal of ERC-5489, an interactive NFT standard, and the use of AI for dynamic content creation. The company has successfully raised capital to fund its development, securing $3 million in a 2021 funding round from investors including NGC Ventures, CMS Holdings, and Genesis Block Ventures.

Keywords: Parami Protocol, Web3 advertising, decentralized identity, DID, Zero-Knowledge Proof, ZKP, Polkadot, Substrate, tokenized economy, on-chain advertising, AD3, crypto advertising, privacy-preserving, smart contracts, Dorian Wu, Tienan Chen, ERC-5489, parachain, user-centric advertising, data monetization, decentralized applications, DApps, blockchain advertising