Carry me higher, ASEAN

yzmoney (33)in #carryprotocol • 6 years ago

Data is the fuel of the future, if you know what your customer’s pattern you can know the market demand and plan for it. That is what carry protocol is trying to archive, connecting merchants, consumers & advertisers with blockchain.

Even though online transaction is gaining traction, but most of the staple consumer spending like food & beverage restaurants, convenience stores and other service industry still rely on offline brick and mortar model. Like the online industry, data is important for the offline retail business, but offline merchants have a hard time collecting consumer data. Consumers have no control over the data collected and are not rewarded to share their data with merchants.

The carry protocol seeks to bring together consumer, merchants and advertisers. Carry protocol allow merchants to collect consumer data while allowing the consumer to be rewarded for spending and sharing their shopping data. Advertisers can also use the system to better market their product to focus consumer groups.

Consumer can easily install the Carry App on their phone to pay or get rewarded via QR code. The building wallet API also allows users to manage their own privacy and optionally monetize their transaction data.

The systems runs on a dual token model. The main token is the CRE (pronounced as Carry), which can be use payment within the Carry ecosystem. It is also use by Merchant for accessing service in the Carry system like custom token generation or using smart contracts. Advertisers will reward CRE to consumers for sharing anonymous transaction data.

The other token in the system is the Branded Tokens (BT) which is generated by the merchants as loyalty points. The BT are given to customers to encourage return visits and increasing consumer loyalty. The BT tokens It is also used for advertisement whereby consumers will see the ad on their wallet app. Consumers can then customise their interest and receives more relevant BT tokens. To reward the consumers that opt in to receive ads, will get CRE tokens.

Advertisers are able to utlise the Carry ecosystem to place relevant ads to their target market easily as they already have the relevant consumer spending data. They will also be able track and measure the effectiveness of their ads by tracing the usage of the BT used by the consumers on the blockchain.

Crypto Payments

Currently there’s limited avenue for crypto holders to spend their crypto currency as not many merchant accepts it, crypto holders need to either convert the crypto to fiat to use it or need to topup to a crypto linked debit card.
Carry provides a way for merchant to accepts payment in crypto and also traditional cash and credit card. It currently accept payment in it’s own token CRE and BT and also other cryptos like BTC and ETH. The carry protocol will have API and SDK for integration to existing POS system

The plus point of this project is that they already have a very strong partner Spoqa. Spoqa runs Dodo Point, an offline market customer facing app which has been running for 7 years with 10,000 merchants tracking 15 million consumers that has over a billion USD in transaction volumes.

So how does Carry fits in to the South East Asia (SEA) economy system

The Association of South East Asia Nation (ASEAN) region has a very vibrant economy. In 2014, the region was the seventh-largest economic power in the world. It was also the third-largest economy in Asia, with a combined GDP of US$2.6 trillion – higher than in India. With 622 million people ASEAN is the world’s third largest market, which behind China and India has the third largest labour force.[1] The World Economic Forum predicted that by 2020, the region will have the world’s fifth largest economy [2]

The market for consumer loyalty platform is vastly untapped and there’s no unified loyalty program that covers the entire region. Carry protol can change all that. With their experience in Korea and Japan, the system can well be adapted in the SEA countries with it’s high mobile penetration rate and increasing consumer spending. Even though credit card payment is widely accepted in ASEAN countries, there are many who are unbanked and does not own credit card but many in ASEAN are already familiar with e-wallet and paying via QR code scanning. With the usage of Carry protocol application, consumers can easily pay via QR code scanning and collect loyalty rewards. Carry protocol could easily adopted for use on various tablet or POS system, it can be use as an alternative payment method to replace expensive credit card merchant discount rate (MDR).

Tokenomics
Total 10 billion tokens
40% which will be generated for public sale,
25% for partner program
15% for market activation (eg airdrop & marketing)
10% for the founding team
5% for advisor
5% for reserve