Carry Protocol - Connecting Merchants & Consumers with Blockchain

brainpow (0)(1)in #blockchain • 6 years ago

what is Carry Protocol?

Carry is a platform that connects offline merchants and consumers using blockchain. Using Carry Protocol, merchants will be able to issue Branded Tokens (BT) which serve similarly to loyalty points. Users can earn BTs simply by providing their phone number to the merchants when making a purchase. Users can also earn CRE tokens or coupons when taking advantage of promotions or selling their personal data to advertisers/merchants. There are two main components of the Carry Protocol, their blockchain and smart contracts solution, and their Carry Wallet and Carry Device APIs. The Carry Wallet will be the main hub for the consumer, where the can scan stores’ QR codes, make payments, and, if they choose, share their data with advertisers for compensation in the form of CRE, and BT that they receive from specific advertisements. The Carry Device APIs will be for the store’s end of things to provide support for in store devices, which will allow said devices to interact with the Carry Wallet, send it data, and BT. For the backend, there will be the Carry Protocol blockchain, on which transaction data is stored, and will be interacted with when a customer makes a purchase, noting what they’ve purchased, the price, etc. This data will be strictly accessible by the customer in their Carry Wallet.

CRE tokens are going to be used for a number of things within the Carry Protocol. On the merchant side of things, there will be a number of functions. To begin, the merchant is going to have to stake a certain amount of CRE for two things: 1) the creation of BT, and 2) their use of the smart contract. Depending on how much is staked, the merchant will be allowed a certain number of transactions/day. Another option here is a pay-as-you-go structure, paying CRE for each transaction. From there, the tokens will be used as advertisement, incentive, and BT. Advertisers and shops will give/pay out a certain amount to consumers, and the consumers will use CRE or BT to pay for their purchases or receive discounts. The value of these tokens hinges on the adoption of the project, in terms of users, merchants, number of check-ins, transactions, etc. The more adoption the project has, the bigger the network effect and the more valuable CRE tokens should be.

South Korea is the first market for Carry Protocol. Cryptocurrency is very popular in the country and Carry Protocol allows a way for the normal consumers to earn cryptocurrency for the first time, which helps bringing cryptocurrency mainstream.

Spoqa is a fast growing company with a 60% market share in South Korea according to the CEO. So this project is not some startup that is running out of funding and decides to pivot to blockchain to stay afloat.
The staking mechanism encourage merchants to hold onto CRE tokens, which has a positive impact to the price of CRE tokens.
The team understands the importance of user experience. The introduction of Carry Protocol to Spoqa does not change its business model, but rather improves it. There is no friction to users or merchants to adopt Carry Protocol

TOKEN SALE: JULY (NO EXACT DATES)
Ticker: CRE
Token type: ERC20
ICO Token Price: 1 CRE = 0.0083 USD (0.00001538 ETH)
Fundraising Goal: 25,800,000 USD (48,000 ETH)
Total Tokens: 10,000,000,000
Available for Token Sale: 40%