The Carry Team is launching Carry Protocol to successfully realize the three objectives defined

Online and mobile commerce markets have grown rapidly in the recent years, but overall commerce remains dominated by the $25 trillion offline market1. According to a study by AT Kearney, 90% of all retail spending by American consumers took place in offline stores, illustrating that people still spend most of their money in real brick-and-mortar stores.

Unsurprisingly, major online giants are making significant investments into offline businesses. Amazon’s $14 billion acquisition of Whole Foods reflects the strategic importance of linking online with offline. This is not just an American phenomenon, with Asian companies like Alibaba and Tencent also moving into offline with multibillion dollar purchases of shopping centers and hypermarkets.

‼ What is the problem here?

Every business has a data silo problem: Identify consumer data is more difficult in the offline market because consumer data is split between different players and cannot be consolidated. It will be difficult to see a completely comprehensive set of data tracking offline purchasing behavior.

Marketing is inefficient and lacks transparency: Marketing campaigns are usually conducted on channels with a large number of consumers, allowing them to charge a massive fee based. But there is no way of truly knowing how many people were exposed to the ad or how effective it was. Advertisers have no choice but to trust the results provided by the channel. Offline marketing usually uses the form of flyers on the streets. This form of advertising lacks efficiency and has a major disadvantage of being untrackable.

Consumers have no control of data and Coupon and point management is a hassle.

What is Carry Team’s Mission

The Carry Team aspires to innovate the offline commerce market by using blockchain technology to solve the aforementioned issues. Based on its experience conducting business in the offline market and securing 10,000 partner merchants with 15 million consumers, the team wishes to resolve the inefficiencies of the offline domain through the following:

+ Provide a platform for merchants to understand their customers and communicate with them
+ Enable consumers to control their own payment data and monetize the information
+ Offer a new advertising channel that is effective and transparent

The Carry Team is launching Carry Protocol to successfully realize the three objectives defined above. The team will spare no time to build the Carry Protocol and begin spreading it to the existing merchant and customer base. The team will then build the Carry ecosystem where it can prosper together with its contributing participants.

Carry Protocol

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 :

1) Carry transaction database: Carry transaction database refers to the virtual database on the blockchain where the transaction data is generated and uploaded by consumers.
2) Carry smart contracts, and second is a set of APIs that connect the blockchain to third party software: Carry smart contract supports the issuance and use of tokens (CRE and BT) on the Carry Protocol.
3) Carry wallet API: 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: 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.

Smart contract

The numerous features of Carry Protocol can be accessed through Smart Contract. BT is the most basic and important function of Carry Protocol, and merchants can issue BT of various types through Smart Contract. Carry will continue to add more features, including store reviews, through Smart Contract.

The entities using Smart Contract must:
1) stake a certain amount of CRE on Carry Protocol or
2) pay-as-you-go (in CRE) for each use of Smart Contract. Staking a fixed amount of CRE allows a specified usage level for Smart Contract. If the daily usage exceeds the set level, the user must pay a fee for each use in CRE. This is because executing Smart Contract requires Carry Protocol’s resources, which incurs cost. This also protects the system from attacks against the blockchain.

The per-use fee for Smart Contract can be set at a higher price point than the opportunity cost for CRE stake, encouraging merchants and advertisers to stake more CRE. If a merchant wishes to conduct more transactions than provided by their CRE stake, they can also offer perks and benefits to other participants such as their customers and have them deposit CRE on their behalf.

The CRE Token

CRE is the main token of Carry Protocol. Its various uses can be summarized as follows:
1) Stake to execute Smart Contract: A fixed amount of CRE stake or a per-use fee is required to use Smart Contract to access various features of Carry Protocol.
2) Reward in exchange for advertisement: CRE must be provided to consumer, advertising service provider, or wallet (app) service provider as a reward to conduct ads on Carry Protocol using its transaction data.
3) Means of payment: CRE is in itself a means of payment and an asset that can be traded at exchanges, and thus can be used at stores like any other cryptocurrency.

Value Proposition

The consumers purchasing goods or services at the stores will take away the following benefits as a key participant in Carry Protocol:

First, customers will be rewarded BT for buying from merchants that support Carry Protocol. After the usual transaction is complete, customers will receive loyalty points or coupons in the form of a BT that they can use on their next visit.

Second, consumers will be rewarded CRE for uploading transaction data. After the purchase, they can selectively share their transaction data on Carry Protocol and receive a reward from Carry Protocol for sharing this information.

Third, consumers will be rewarded CRE for accepting advertisements. Carry Protocol eliminates the middle players like the existing marketing channels, so these fees go directly to the consumers.

Fourth, consumers can manage the points and coupons for various stores in one app. Small and medium businesses usually issue points and coupons in different ways, making it difficult for customers to manage them together. The Carry Wallet app will enable everyday consumers to use one app for simple management of points and coupons.

Merchants are defined as businesses that provide goods or services to consumers in exchange for cryptocurrency or fiat. As a key participant in Carry Protocol, merchants will take away the following benefits:

+ The benefits mentioned in the previous section will encourage consumers to opt for merchants that support Carry Protocol. Therefore, merchants will be able to attract more customers by supporting Carry Protocol, which will lead to more sales.

+ Carry Protocol will make it easier for merchants to manage their customers. The interface provided by Carry Protocol will be easy to use, despite the complexity of the protocol or blockchain technology behind it. Merchants can use the interface to learn more about their customers and use BT for various forms of interaction with their customers. For instance, merchants can use BT to conduct a customer satisfaction survey, or offer a special BT (coupon) to first-time customers to encourage return.

Advertisers are participants who wish to advertise to consumers on Carry Protocol, and can take away the following benefits:

+ Advertisers can put out an ad very efficiently in the offline market. Unlike passing out flyers, Carry Protocol will allow advertisers to track the effectiveness of the ad, which will enable them to narrow down specific targets of their ads over time.

+ Advertisers can release the ad on Carry Protocol via easy-to-use interface so that they can focus on other aspects of their business.

Spoqa: Flagship Partner Company

Spoqa South Korea’s largest brick-and-mortar rewards platform. 7 Years of experience, 10.000 Partner stores, 15 Million Customers, $1 Billion In transactions.

The Carry Protocol is operated by the co-founders of Spoqa, South Korea’s largest brick-and-mortar rewards platform. Spoqa already has customer-facing tablets installed in 10,000 stores across Korea, for use with their Dodo Point loyalty service.

The Carry Service will be launched on these tablets with an effortless update that won’t take merchants more than a few minutes to complete. We are literally set to roll out overnight. Offline crypto couldn’t be made any easier.

Carry expert team

The Carry team is specialized in open-source development and offline execution.

Grant Sohn - co-CEO
Stanford Economics, McKinsey & Co, Rocket Internet, Spoqa cofounder, 10+ years of relevant experience.

Richard Choi - co-CEO
Johns Hopkins Engineering, Cornell Masters, SK Chemical, original founder of Spoqa with 7+ years of relevant experience.

Swen Mun - Lead Developer
CTO of Spoqa, full-stack programmer, experience in database protection and encryption.

Hong Minhee - Developer
Developer of Spoqa, keynote speaker of PyCon.KR 2017, created interface description language and compiler for high-level backend developers, internationalization libraries, and APIs.

Jungwon Yu - Head of Business Development
GS Shop CoE(Center of Excellence), Founder of Ensight Media, Inc., Yahoo!Korea, Naver, Daum, CyWorld, Samsung SDS, Yonsei Univ.

Yujeong Nam - UX Designer
Product owner of Spoqa, Seoul National Univ. User Experience Lab, 5+ years of UX design, user research, problem-solving, data analysis and information architect experience.

Heeyeun Jeong - Product designer
Product designer of Spoqa, host of Behance portfolio reviews Seoul 2017, top CSS GitHub developer in Korea, experience in user interface design, front-end web development and growth hacking.

Jisun Park - Product designer
Product designer of Spoqa, 5+ years of digital interface experience, experienced in front-end web development, contents-oriented growth hacking.

Young Kang - Product designer
Product designer of Spoqa, shipped OFL typeface Spoqa Han Sans, 5+ years experience in digital interface, web typography design, growth hacking, and front-end development.

Minjune Kim - Developer
Full-stack Developer of Spoqa, Seoul National Univ. Computer Science (College of Liberal Studies).


  • Ticker: CRE
  • Token type: ERC20
  • ICO Token Price: 1 CRE = 0.0079 USD (0.00001538 ETH)
  • Fundraising Goal: 24,700,000 USD (48,000 ETH)
  • Total Tokens: 10,000,000,000
  • Available for Token Sale: 40%
  • Whitelist: YES (14 JUN – 21 JUN, JOIN )
  • Know Your Customer (KYC): YES (14 JUN – 21 JUN, PASS )
  • Accepts: ETH

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Author: Haudhv
Tags: new-ico , reviewico

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