What is Carry Protocol Project?

tinhkhuat (32)in #carryprotocol • 6 years ago

The Carry protocol is a platform for connecting offline stores and consumers based on blockchain technology.

Carry is a platform that connects offline merchants and consumers using blockchain. 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.

How does Carry Protocol work?

The Carry protocol will encourage the participation of various partners other than Spoqa, and if anyone, including Spoqa, joins as an early partner and contributes to the development of the Carry protocol, to build a partner ecosystem.

Carry will come up with a solution to the problem of fragmented transaction data, opaque and ineffective marketing, problems with offline commerce markets, inconveniences of consumers who do not have control over data, inconvenience of coupon and point management.

If you define the Carry protocol in a word, it is a platform that connects the store and the consumer based on the blockchain. Stores and consumers are the most important participants in the Carry protocol, which can communicate in various ways through the Carry protocol and form a multifaceted relationship. Advertisers are also one of the participants in the Carry protocol, and in many cases the store is expected to become an advertiser soon.

In simple terms, Carry is a platform that connects merchants and consumers using blockchain. Merchants and consumers are the most important participants of the system and use Carry Protocol to communicate and interact in various ways. Another participant in the Carry Protocol is advertisers, many of whom are expected initially to be merchants in the system. Carry Protocol comprises of two major parts, each with two components : First is the blockchain itself that houses 1) Carry transaction database, and 2) Carry smart contracts, and second is a set of APIs that connect the blockchain to third party software, including 3) Carry wallet API and 4) Carry device API.

Carry transaction database refers to the virtual database on the blockchain where the transaction data is generated and uploaded by consumers. 2) Carry smart contract supports the issuance and use of tokens (CRE and BT) on the Carry Protocol. 3) Carry wallet API enables wallet apps to support Carry Protocol and lets consumers manage their cryptocurrency, control their transaction data & privacy settings. 4) Carry device API is an API that allows devices at the stores to support Carry Protocol, and provides the function to pay with cryptocurrency and sends payment data to consumer’s wallet. Each of the above will be explained in further detail.

Carry Protocol's TEAM

Carry Protocol was started by the co-founders of the Spoqa, and is backed by investors including Hashed, Kenetic Capital, Signum Capital, and XSQ.

The biographies of key team members are listed below:

Grant Sohn, co-CEO – Worked as a business analyst for McKinsey and Co, business consultant for Sohn Consulting, and managing director of Asia for Wimdu GmbH before co-founding Spoqa.

Richard Choi, co-CEO – Master’s degree in engineering from Cornell, researcher at SK Chemicals before co-founding Spoqa in 2011. Co-founder of Carry Protocol.

Swen Mun, Lead Developer – Full stack programmer with experience in database protection and encryption. Software developer at Spoqa for 5 years before becoming the CTO in 2017.

Jungwong Yu, Head of Business Development – Team manager at Cyworld and Daum Communications, senior manager at Naver Corp and Yahoo. Founder and CEO of Ensight Media and director at GS Shop before becoming head of business development at Carry Protocol.

Advisors for Carry Protocol include Simon Kim, CEO and partner of Hashed, Ryan Kim, chief acceleration officer and partner at Hashed, and David Park, product leader and management consultant for companies including Facebook, Nextdoor, and McKinsey & Co.

Tokens

There’s 2 token model for Carry:

CRE token — Focuses more on consumers end.
a) Reward consumers for sharing their data.

b) Reward users when they are advertised on.

c) Used on participating stores as credit.

BT token — Focuses more on merchants.

a) Merchants/brand able to use it for their loyalty points, coupons, prepaid cards.

Hardcap

This is one of the main thing investing in ICOs and I believe many of you frown when you say the hardcap of 50,000 ETH. This can be justified as they will be delivering tablets (their POS hardware) and planning to expand it to 500,000 stores.The funds are being put to good use.

Investors

South Korea largest crypto fund have invested in it!

It’s #Hashed

#Hashed help accelerate the well known ICON into such a successful project and Carry will be the next big thing they’re up to! Don’t miss it.

Partners

Don’t miss out the partners as well. They’re top notch.