What is the Carry Protocol ICO?

Carry Protocol is a platform aiming to disrupt the $25 trillion offline commerce market. The project identifies three problems in this field: customer data is fragmented and incomplete, customers do not control or profit from their personal data, and offline advertising is outdated and increasingly ineffective. Carry Protocol aims to solve these problems via a platform enabling merchants to connect directly with customers, enabling customers to monetize and control their own data, and allow for updated advertising techniques that connect with people based on their data and increased, incentivized engagement.

How does Carry Protocol work?

The components of the Carry Protocol are as follows.The off-blockchain Carry Device API communicates with the Carry Transaction Database on the protocol’s blockchain. The Carry Wallet API is also off-chain and communicates with the on-chain Carry Smart Contract which communicates with the issuance and use of CRE (Carry tokens) and BT (branded tokens) on-chain. The wallet API enables wallet apps to support Carry Protocol and enables users to manage funds, transaction data, and privacy settings. The device API enables stores to process payments through the protocol. This enables stores to offer loyalty rewards in the form of their own branded cryptocurrency (for example, an outlet could offer $5 worth of their BT for a $50 transaction, incentivising the customer to return). The customer simply gives the store their phone number to receive the tokens. Carry Protocol can then offer CRE in exchange for the customers transaction data in the store (store location, price and nature of goods/services, etc.) Merchants on the Carry Protocol can offer discounts when customers pay with CRE, allowing CRE to act as a reward for data and also as a targeted marketing tool. CRE can be purchased by companies looking to advertise to people based on their complete data set instead of blanket-advertising with keyword ads through platforms like Facebook, allowing for more efficient targeted advertising.

Why is Carry Protocol unique?

Carry Protocol offers value to merchants and customers by incentivizing customers to optionally provide their data in exchange for store discounts. Stores can use the protocol to offer loyalty rewards and businesses can launch more effective advertising campaigns, leaving the protocol poised to disrupt offline commerce. Carry Protocol will partner with Spoqa, an established company in the offline commerce sector which shares some of the same founders as Carry Protocol. Spoqa operates Dodo Point, a customer-facing tablet system offering loyalty rewards with over 15 million customers and 10,000 merchants tracking US$ 2 billion worth of payments annually. The partnership positions Carry Protocol with an advantage over competitors, as adoption and partnerships with merchants will be crucial to the platform’s success.

Who makes up the team behind Carry Protocol?

Richard Choi is Co-Ceo and Co-Founder. He co-founded Spoqa and has an MA in Biomedical Engineering and 7 years of experience in related fields.

Grant Sohn is Co-Ceo and Co-Founder. He co-founded Spoqa and was managing director of Wimdu and has 10 years of related experience.

Swen Mun is the Lead Developer. He is CTO of Spoqa and is a full-stack programmer with experience in database encryption and protection.

Hong Minhee is a Developer of both Carry Protocol and Spoqa and has created interface description languages for internationalization libraries and high-level backend developers.

More details about the Carry Protocol ICO

The Carry Protocol pre-sale starts on 24 June and ends on 8 August, and participants must join a whitelist with KYC. There are 10 billion tokens in total and 40% will be sold in the ICO. The tokens are called CRE and are ERC-20 compliant. Each token will be sold for US$0.0083. The hard cap is US$25.8 million and there is no soft cap. Users will donate Ethereum via Ethereum wallets. The date of the crowdsale is unreleased. The minimum deposit is 0.1 ETH (US$ 52) and the maximum is 50 ETH (US$ 26,000).

This ICO is not available to citizens of the US, Canada, or China.

Token distribution:

  • 40% for ICO

  • 20% for partner programs

  • 15% for marketing

  • 10% for reserve

  • 5 for advisors

  • Projected use of contributions:

  • 30% R&D

  • 25% payment hardware

  • 20% operation and business development

  • 15% sales and marketing

  • 10% other

It is unknown how soon after close of ICO participants can receive their CRE tokens or whether unsold tokens will be burned.