Carry Protocol (CRE) - Connecting Merchants & Consumers with Blockchain
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:
1. Provide a platform for merchants to understand their customers and communicate with them
2. Enable consumers to control their own payment data and monetize the information
3. 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.
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
1) 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.
Components of Carry Protocol
Before providing a detailed explanation of the token mechanism for Carry Protocol, we will share
three general user scenarios that will aid in understanding the Carry Protocol.
Carry Protocol’s service begins when a consumer buys goods or services at a store and completes a
transaction, just as Carol did in Scene #1. Carry Protocol supports fiat payments such as credit card
and cash, as well as cryptocurrencies , making it easy to use for anyone.
Merchants must be equipped with an interactive device like a tablet to use Carry Protocol. Most
merchants already have a POS (point-of-sales) device, which could itself function as a Carry Protocol
device or require a separate device like the tablet. The device will send the transaction data from the
POS to the customer, and help the customer upload this data on the blockchain.
Transaction data monetization
After completing the transaction at the store, consumers will receive the transaction data on their
wallet app. There are multiple ways of receiving transaction data: one example is by entering their
phone number on the device as was done in Scene #1, or another is by scanning the QR code from the
device using the wallet app like in Scene #2.
The consumer can then decide whether or not they upload the transaction data on the
blockchain. It is entirely up to the consumer whether to upload the data or not, in part or in whole.
Carry Protocol gives full authority of the data to the consumers to realize its mission of “consumer
data ownership.” Even when the consumer chooses to upload the transaction data, whether in part or
in whole, their privacy will be protected through anonymity shield and data encryption.
Carry Protocol gives consumers CRE (pronounced “carry”) as a reward for uploading their
transaction data on the blockchain, thereby encouraging more uploads. The CRE given to consumers
will be taken from the Carry Token Pool built from the inflation of the blockchain itself, to be
Branded Tokens - Advertisement
In addition to using BT as a loyalty system, as described above in 3.3.2, BT can also be used for
advertisement. The Bird Coffee coupon that was given to Carol in Scene #2 and the message from
DewDrop Beauty in Scene #3 are all examples of Branded Tokens used for advertisements.
Transaction data that is stored on the blockchain will likely be used mostly for targeted
advertisements. Advertisers can process available data and narrow down consumers suitable to their
marketing needs to target ads on the Carry Protocol. If the advertisers find it difficult to process the
transaction data themselves, the “advertising service provider” can help them identify the right
targets for their ads.
Advertisements are sent in the form of BT on the Carry Protocol. Based on its property, the BT
could be a coupon to be used on the next visit or a simple ad display. On the receiving end,
consumers see the ad on their wallet app in the form of BT. Consumers can choose whether or not
they want to receive ads by configuring the setting, and even choose specific areas of interest for ads
(F&B, cosmetics, etc.).
Consumers that opt to receive ads will also receive CRE on top of the BT as a reward for ad
exposure. Consumers can set the minimum threshold for the level of CRE rewards, so that BT (ads) is
only sent when a certain number of CRE has been received as a mechanism to protect themselves
from indiscriminate ads or spam. Consumers are rewarded CRE by the advertiser for opting to
receive ads, which is an incentive that has been proven to be effective through a number of reward
apps. From the advertiser’s point of view, the cost of advertising has been minimized and instead
given directly to consumers for a more effective form of advertising at a lower cost.
Carry Protocol also allows advertisers to track the effectiveness of their ads, as is typically done
in online advertisements. Both the issuance and use of Branded Tokens are traceable, making it
possible to measure ROAS (return on ad spend) and distinguishing it from the traditional method of
handing out flyers. If professional advertising businesses (DMP, etc.) combine existing data with
Carry Protocol data, we can expect to see highly effective advertisements in the offline market.
Most of the advertisers will likely be merchants on Carry Protocol, but we also expect to see
non-profit, government or public enterprises, companies seeking to improve their corporate image,
and other advertisers who are not necessarily aiming to sell products. Media and researchers could
also analyze Carry Protocol data for media coverage or academic papers. Carry Protocol’s data will
have a broad use in a wide range of areas.
The CRE Token
CRE (pronounced "carry") is the main token in the Carry
Protocol. Consumers can use it as currency to pay merchants within the
Carry ecosystem. Merchants use it to create branded tokens or smart
contracts. Consumers receive CRE from 3rd party advertisers, as payment
for accessing the consumers’ transaction data blockchains. And this is
all acheived without lifting the veil of anonymity.
Spoqa’s key partners, clients, and media coverage
Important notice regarding Crowdsale
Thanks so much for supporting the Carry Protocol project.
Several important strategic partners, who missed our private sale, asked us if they could purchase some of the crowdsale tokens. These partners have the potential to jump start our effort to bring Carry in the hands of real merchants and users because they operate well known brands and services that millions of people already use in our initial target markets (Korea, Japan).
We decided to close the crowdsale at 11:00 am (GMT+0) on September 4, 2018 and to sell unsold crowdsale tokens to these strategic partners under the following terms:
- Same price as crowdsale - No bonus tokens - 3 month lock-up
We’ll announce the strategic partners in the near future and think that you’ll be as excited as we are about them. We’re excited and happy to work with you to bring blockchain into the real world!