Carry Protocol Carry Platform is going to connect the offline merchants and the consumers using blockchain.
Online and mobile commerce markets have grown rapidly in the recent years but overall commerce remains dominated by the $25 trillion offline market.
Issues in the Retail Industry:
There are three major issues faced by the Retail industry: Identifying and understanding their customers, Insufficient Marketing and lack of clarity, Coupon & Reward points management.
Identifying and understanding the customer:
It is very easy to capture and maintain the consumer data in the online eCommerce stores, whereas it is highly difficult in the offline stores as there are many 3rd party providers involved in every transaction. These days retailers are using different methods of payments (where they capture the transaction amount, card details) and the software tools (where they capture the customer identity) in order to capture and maintain the data. As the data is not managed directly by the retailer, one or more 3rd parties come into picture to handle the details. It would be more difficult to the Retailer to consolidate the complete data from different players together and get accessed to limited data.
Insufficient Marketing and Lack of clarity:
As the industry is b2c the complete business depends on advertising and Marketing of the business, they need to advertise on channels where the consumer base is high. They need to rely on the results provided by the channels, ending up no idea on how effective it was.
Offline merchants still follow the traditional marketing strategies like handling flyers on the streets, attending events, ads on billboards, Tv ads, Newspaper insertions. The major disadvantage of traditional marketing is that it is untrackable and they can not even know the campaign effectiveness of driving real traffic and Revenue generation.
Coupon & Reward points management:
The current industry has the paper coupons and the reward points system where those have to be redeemed at the store level ending up purchasing something or they expire without even knowing. There are companies, who provide customer to add the points and convert them at a conversion rate, still it is difficult for the end user in managing them.
Solutions by Carry Protocol for the above mentioned issues:
Carry protocol provides a platform for merchants to identify, understand and communicate with their customers.
Offers new channels to advertise which are both transparent & effective.
Carry Protocol enables consumers to control their own transaction data and monetize the information.
Capturing and Understanding the customers.
- Carry platform enables customer to generate the transaction data and upload to the transaction database in the blockchain.
- Carry Smart contract supports the tokens transfer (issuance by the merchant and usage by the consumer). Tokens accepted are CRE and BT on the Carry Protocol.
- Within Carry wallet, customers can manage their cryptocurrency and control the transactions. This is enabled by the Carry wallet API.
- Carry wallet API allows devices at the store to support the carry protocol and customers to pay using cryptocurrency. This API also allows merchants to send the payment related information to the consumer wallet.
User Scenario:
A consumer goto a shop and pays through Fiat currency, retailer can offer them loyalty points in Store own tokens (these tokens will be created under Carry Protocol) and these tokens will be immediately transferred to the consumer’s wallets. Also the consumer receives, Carry Tokens (CRE) as they upload their transactions details in the wallet.
For advertisements, these merchants can use CRE tokens to pay for the ad-company for their advertisements who accepts the CRE tokens as the payments. The users who are using Carry wallet, will receive a notification about the ad.
Any merchant who want to cut down their regular ads on the channels, they can buy Carry tokens and advertise on Carry Protocol. All the consumers receives the ads as soon as they accept to receive an ad. This way, the merchant is able to identify their customers and convert them better compared to the ads and money spent on Keywords.
Whenever there is a transaction done by the consumer, consumer will receive the store coupons/tokens and additionally they receive CRE tokens for transactions uploads. Also, whenever there is an ad message to the consumer, they will receive some amount in CRE tokens.
Partners:
In the initial phase, Carry Protocol aims to partner with businesses that are relevant to the Carry Protocol.
Carry’s first flagship partner, Spoqa has 10000 plus retails and 15 million user base. This partnership leverages its existing merchant and consumer base to scale Carry Protocol into the market.
Carry will continue to be partner with companies similar to value added service providers such as exchanges, companies like Spoqa, other franchise businesses, device providers, advertising agencies, software and technology companies to develop the platform before the launch of the protocol.
Backed by a top-tier investor
Hashed
Hashed is Korea's top crypto fund and accelerator, and the early backer of global projects such as KyberNetwork, OmiseGO, EOS and ICON.
Kenetic Capital is a Hong Kong-based blockchain firm committed to expanding the development and adoption of blockchain platforms through investments, advisory services, community and technology.
Signum Capital is a Singapore-based firm that exclusively consults in Blockchain-enabled companies, and participated in Pre-sale stages of Token Generation Events and Equity investments such as Aelf, Sentinel Protocol, and OmiseGO.
XSQ is based in Singapore, the team is made up of experienced ex-investment bankers and individuals seasoned in the financial institutional industry. Headed by serial entrepreneurs, X Ventures seeks to spearhead the next wave of the internet revolution.
Developed by an expert team
The Carry team is specialized in the open-source development and offline execution.
Extended team
Advisors
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🔥🔥🔥 CRRY PROTOCOL SOCIAL COMMUNITY 🔥🔥🔥
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Author
teenwolf93 https://bitcointalk.org/index.php?action=profile;u=1253487
This article brings the real explanation about the Carry Platform and Why it is and how it will fix the problem clearly.Thanks for the info
The Carry protocol is operated by the co-founders of 스포카, South Korea’s largest brick-and-mortar rewards platform. Spoqa already has customer-facing tablets installed in 10,000 stores across Korea, for use with their 도도 포인트 (Dodo Point) loyalty service.
Awesome project with a huge potential
Coins mentioned in post:
i really like this article. perfectly explain the project like carry protocol in a great way.