Carry is a platform that connects merchants and consumers using blockchain. It aims to resolve these current problems. 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 Third, offline advertising is outdated, lacking in transparency and effectiveness.
Their objective is to provide a platform for merchants to understand their customers and communicate with them, to enable consumers to control their own transaction data and monetize the information, and to offer a new advertising channel that is effective and transparent.
The Carry Protocol offers:Crypto-enabled payment terminals for offline businesses. (10,000+ terminals in place tracking $2 Billion in real spending offline, thanks to Carry’s key partner company, Spoqa.) Branded tokens for offline brands and shops—the “loyalty points” of the future.A wallet API for payments that enables consumers to manage their own privacy and optionally monetize their transaction data. A targeted advertising system based on the opt-in transaction data blockchain.
Website: https://carryprotocol.io/
Token symbol: Carry (CRE)
Token type: ERC20 (Ethereum platform)
Non-tech whitepaper: https://carryprotocol.io/static/docs/Carry-Protocol-Fast-Facts.pdf
Whitepaper: https://carryprotocol.io/static/docs/Carry_protocol-white_paper%28ENG%29.pdf
Hard cap: 50,000 ETH
Total possible tokens: 10,000,000,000
Token distribution:
Community reserved: 4,000,000,000 (40%)
Private sale: 30,000 ETH
Pre-sale: 10,000 ETH
Public sale: 10,000 ETH July (Subject to change)
Token distribution
40%- Token generation event
25%- Partner Programs
15%- Market Activation
10%- Team
10%- Reserve
5%- Advisors
Use of Funds
The proceeds that the Company receives for Tokens sold to purchasers during the Sale period will be used to cover; 30% for Research and Development, 25% for payment hardware or the necessary device for the merchants, 20% for operation and business development to help the business gain stability, 15% for Sales and Marketing and 10% for other uses. This is only an estimate allocation of proceeds and might subject to change if deemed necessary.
Token distribution timeline
After Public Sale in July but still subject to change and ⅙ of total tokens distributed per month.
Roadmap
The company is expected to finish the Token Generation Event (TGE) by the third quarter of 2018 and to develop basic components like Smart Contract and Protocol API.
By the the fourth quarter of 2018, it aims to launch Testnet.
In the first quarter of year 2019, the company aims to develop protocol building such as Reference Wallet and Reference Point of Sale with the launch of Mainnet and basic API for the third party participation.
System up and and running in the market in the second half of 2019 such as the Production Wallet and Production Point of Sale.
in the first half of 2020, the company aims to build an Ad management system.
Product stage
The product is not developed yet. Proposed roadmap tells that the development of basic components to launch Testnet would be ready by fourth quarter of 2018.
Token usage
While the system offers branded tokens for merchants to use as consumer incentives, the main token in the Carry System is CRE. It can be used in a variety of ways. Consumers can use it as currency to pay merchants for goods and services within the Carry ecosystem. Merchants use it to access a host of services from the Carry System, such as creating custom branded tokens, or programmable smart contracts. Consumers will primarily receive CRE from 3rd party advertisers, as payment for accessing the consumers’ transaction data blockchains. And as promised, selling data is an option that can be withheld by the consumer, at their discretion. The data is also anonymous, as it is associated with one or more wallet addresses, rather than your real name.
Team
The Carry protocol is operated by the co-founders of Spoqa, South Korea’s largest brick-and-mortar rewards platform. The team has six years experience growing a business from zero to 15 million customers, with rewards enabled for $2 Billion in transactions annually. Spoqa’s technology partners Line@ and Kakao – two of Asia’s largest messaging apps – are helping to develop the API technology. They also have support from #Hashed, early angel investors in ICON.
Most importantly, 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.
Grant Sohn, Co-Founder
Spoqa, Co-CEO
Rocket Internet
McKinsey & Company
Stanford Economics
Richard Choi, Co-Founder
Spoqa Co-CEO
SK Group
MS Cornell
BS JHU Engineering
Swen Mun, Technical Lead
Spoqa CTO, (20+ engineers)
Full stack programmer
Database protection
and encryption expert
Opportunities
Carry Protocol is operated by the co founders of the largest brick and mortar rewards platform in South Korea, Spoqa, which entails good foundation and strong reputation in the industry. Certainly this will give Carry Protocol a competitive edge in the market and help achieve faster application in the real world.
Heavy cryptocurrency hitters like HASHED, an early angel investors in ICON already supported Carry Protocol which shows that the company can expand its network to the rest of the world.
Their team and network is solid. Most of them have experience from working at Spoqa which has reached remarkable achievements in 7 years.
Spoqa has developed Dodo Points, a customer-facing tablet based loyalty platform for SMB merchants, which has 15 million consumers and 10,000 merchants which will be added on Carry Protocol that makes it a very strong start to grow out from.
Hype is growing around the project especially in South Korea as the company focuses on the country itself. Bitgosu has started marketing it in South Korea, and their social media channels have been growing steadily.
Concerns
Token proposed distribution is great for the current development stage of the product but hard cap is quite high for current stage and market conditions.
The product is not yet developed that entails longer product and research development thus higher investment risk.
Conclusion
Carry protocol is a solid project with good fundamentals from its flagship partner Spoqa. It is driven by a competent team in the industry. They’re attacking problems in the commerce market with a powerful platform that connects offline merchants and consumers using blockchain.
The team is well balanced and well experienced as they have the common experience in Spoqa. With this, they have proven themselves by creating Dodo Points which is already installed in 10,000 stores across Korea. Using this, Carry Protocol could significantly grow fast.
Flipping potential
We’re very bearish, this project is not a good flipping project because tokens are only distributed on a monthly basis (total amount will be distributed ⅙ every month until 6 months is reached and full amount distributed)
Long term potential
The potential is very big as it is supported by the largest brick and mortar rewards platform in South Korea even though it could take years. Project is connecting huge offline retail market with fast-growing online retail market, which is something very useful in our world.