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Carry Protocol (CRE) ICO Review – ICO Token News

Overview

Carry is a platform that connects offline merchants and consumers using blockchain. Despite the rapid growth of online and mobile commerce, consumption mostly still takes place offline. But the offline commerce market, even with its staggering market size of $25 trillion, still lags behind in technology due to the time and energy it takes to introduce and spread new technology. Offline commerce has three major issues. First, merchants have little understanding of their customers because customer data is fragmented and incomplete. Second, consumers have no control over their data while corporations use and monetize this information. Third, offline advertising is outdated, lacking in transparency and effectiveness

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 by resolving these problems with three objectives:

  1. Provide a platform for merchants to understand their customers and communicate with them,
  2. Enable consumers to control their own transaction data and monetize the information,
  3. Offer a new advertising channel that is effective and transparent.

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

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.

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 (mostly merchants) 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 (i.e. number of BT transactions per day).

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 (abusing, DoS attack, etc.) 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.

Carry Token: CRE

CRE are the main ICO tokens of Carry Protocol. CRE will be subject to inflation with the growth of Carry Protocol, and such inflation will be used to reward consumers for uploading transaction data on the blockchain as mentioned above. Since the growth of Carry Protocol is linked closely with the accumulation of transaction data on the blockchain, it only makes sense for consumers to reap some of the benefits as the very entity ploading the data. The inflation rate will also be adjusted based on assessment of the value of new transaction data compared to the value of accumulated transaction data.

Branded Tokens (BT)

BT is a token on the blockchain that is generated and issued through Smart Contract by merchants or advertisers on the Carry Protocol. It is a key element connecting merchants (advertisers) and consumers. BT can be defined in a variety of ways by configuring its properties. For example, 1BT could be given a monetary value of $1 or the equivalent of a cup of coffee. It could be given an expiration date so that it is only valid for 30 days, or have an interest rate. For the sake of operational security, Carry Team will define the initial BT properties and protocol users will not be able to generate or change them. The Carry Team will continue to take into account the needs of users and add new types of properties, and hopefully allow the community to define its own properties in the long run.

Token Distribution

Carry Tokens (CRE) is issued to develop Carry Protocol and build its ecosystem. Supporters can take part in the token generation event by sending crytocurrency. The exchanges rate of tokens to be given to participants will be defined via an announcement on Carry Protocol communication channels (website, Facebook, Twitter, etc.) prior to the TGE.

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Team

  • Grant Sohn
    Grant Sohn
    Grant Sohn
    co-CEO
    Stanford Economics, McKinsey & Co, Rocket Internet, Spoqa cofounder, 10+ years of relevant experience.
  • Richard Choi
    Richard Choi
    Richard Choi
    co-CEO
    Johns Hopkins Engineering, Cornell Masters, SK Chemical, original founder of Spoqa with 7+ years of relevant experience.
  • Swen Mun
    Swen Mun
    Swen Mun
    Lead Developer
    CTO of Spoqa, full-stack programmer, experience in database protection and encryption.
  • Hong Minhee
    Hong Minhee
    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
    Jungwon Yu
    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
    Yujeong Nam
    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
    Heeyeun Jeong
    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
    Jisun Park
    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
    Young Kang
    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
    Minjune Kim
    Minjune Kim
    Developer
    Full-stack Developer of Spoqa, Seoul National Univ. Computer Science (College of Liberal Studies).
  • Eddie Chang
    Eddie Chang
    Eddie Chang
    Project Manager
    CEO of Decentier, Seoul National Univ. Mechanical and Aerospace Engineering, KB Investement(VC), Uberple(Co-founder), Kim&Chang, 5+ years Start-up & VC experience and 2+ years Patent Attorney experience.
  • JC Kim
    JC Kim
    JC Kim
    Developer
    Former CTO of Spoqa, Forbes 30 Under 30 Asia, creator of South Korea’s first Twitter SMS client, 10+ years of dev team management experience.
  • Boyoung Chung
    Boyoung Chung
    Boyoung Chung
    Project Manager
    CSO of Decentier, Seoul National Univ. Computer Science and Engineering / Business School, Netmarble, Korea Venture Investment Corp., G.N.Tech Venture Capital, 4+ years of dev experience and 5+ years of VC experience.

Milestones

  • 1
    2018 Q3

    Release a SDK for device
    • Transfer Transaction data to a wallet

    Release a Prototype wallet
    • Basic Crypto wallet feature
    • Communicate with device SDK

    Choose a base Protocol (e.g. EOS)
  • 2
    2018 Q4

    Apply SDK to existing service (e.g. dodo point)
    • Process basic payment (cash, credit, crypto)
    • Generate transaction data from payment
    • Transfer transaction data to the wallet (using SDK)

    Release a Wallet SDK
    • Upload transaction data to Carry blockchain network

    Release a Carry smart contract on chosen base protocol
    • Basic own transaction feature
    • Store offline transaction data
    • Filter by targeting criteria
  • 3
    2019 Q1

    Release a reference wallet
    • All feature from a prototype wallet
    • Expose/hide (from ad promotion)
  • 4
    2019 Q3

    Release ad targeting feature to wallet and network
  • 5
    2019 Q4

    Release a production point-of-sales (by device provider)
    Release production wallet by (by wallet provider)
    Release a targeting SDK for advertising service provider

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