Carry Protocol — A Complete Package ICO

Personally, before I invest in any ICO, I do not really rely very much on other reviewers. Admittedly, I have trust issues! :) I do not know if they are paid to make such good reviews on other ICOs so I just make my own research. So here I am, sharing with you an ICO that caught my very attention — CARRY PROTOCOL.

I have few key points why I find Carry Protocol to be a complete package. Please also find time to read their whitepaper if anything is unclear.

(1) START UP LOCATION

It is an edge that Carry Protocol started in South Korea to give it a boost and eventually conquer the rest of Asia. It is no doubt that South Korea is one of the first countries to adopt and accept cryptocurrencies. In terms of Cary Protocol’s idea that requires use of tokens on offline businesses like restaurants, coffee shops, hotels, and dessert shops, this is a good start since it requires participation of customers.

Courtesy of Bitcoin Magazine about South Korea:

(2) CASE FOR USE

I strongly believe that the usage of CRE tokens makes it alive and growing. The CRE token maintains value and gains value as it is used. I’ve summarized below 3 items that will keep the CRE tokens circulating.

a. STAKING

The merchants need to stake a certain amount of CRE tokens on Carry Protocol to be able to use the smart contract. Depending on the amount of CRE tokens staked, the merchants are allowed specified level of usage of the smart contract. In the event that the merchant exceeds this limit, the merchants need to pay a fee for each use in terms of CRE and this per-use fee can be higher than the staking fee so this encourages merchants to stake more rather than paying additional cost for the per-use fee.

b. REWARD

The consumer will receive their transaction data on their wallet app. It is then up to the consumer if they want to upload their data to the blockchain in exchange for reward. This reward system will encourage more uploads. 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.

But where will the reward come from? The per-use fee, paid in CRE, is accumulated in the central CRE Pool of the Carry Protocol. The CRE Pool is where the CRE from the per-use fee and the CRE from inflation are located. When CRE is rewarded to consumers for uploading transaction data, it does not come directly from inflation but via the CRE Pool.

c. PAYMENT

Since CRE tokens can be used as payments, it will be available / tradeable on exchanges. It can also be used as mode of payment on any stores.

(3) THE TEAM

Carry Protocol is founded by the team that founded Spoqa — a fast growing company with 60% market share in South Korea. Spoqa is also South Korea’s largest brick-and-mortar rewards platform with 10,000 partner stores and 15 million customers. With a team comprised of successful entrepreneurs, the project will have a high chance to succeed as they incorporate the product with blockchain technology to expand faster.

(4) ADVISORS and KEY PARTNERS

Carry Protocol already has a working product baseline which is Spoqa. It is just a matter of putting this into blockchain which is already on their roadmap to put into Production on the second half of 2019. To make it successful into blockchain, investors such as Hashed play a big role. Hashed is Korea’s top crypto fund and accelerator, and the early backer of global projects such as KyberNetwork, OmiseGO, EOS and ICON. Another top tier investor is Kinetic. Kenetic is a blockchain firm committed to expanding the development and adoption of blockchain platforms through investments, advisory services, community and technology.

Leveraging Spoqa, Carry Protocol will have giant companies such as facebook, kakao, and LINE as key partners.

For more details, read the whitepaper and subscribe to their social media channels to get more information. For I know, we all have trust issues! :D

Telegram : https://t.me/carryprotocol
Medium : https://medium.com/@carryprotocol
Twitter : https://twitter.com/carryprotocol