Carry is a brand new blockchain venue that links a retail trader and offline users together. Owing to the rise in demand for mobile and online e-commerce, the majority of the consumption is executed through offline. Albeit, the offline e-commerce market has a whopping market size of twenty-five trillion dollars, they fail to keep up with the launch of state-of-the-art technology.
Major flaws associated with offline commerce
Most of the retail traders are not acquainted about their valued customers due to disintegrated and insufficient customer data. The discerning customer does not possess any authority to hold the data. However, the Corporates exploit this information through monetization. Last but not the least, offline advertising have become obsolete due to ambiguity and ineffectiveness.
Rise of Carry Protocol
Carry Protocol is targeting towards rectifying the above-mentioned issues by introducing a platform to enable the retail traders to get familiar and interact with their customers. They aim to empower the customers to control the customer data by monetizing it. Lastly, they focus on introducing a contemporary advertising channel that is more worthwhile and unequivocal.
Carry Protocol who launched an app named 'Dodo Point' had gained immense popularity. The team succeeded in procuring more than ten thousand partner merchants alongside fifteen million customers. The app has the potential to detect offline transactions worth two billion dollars in a year. Despite a challenging environment, it was one of the significant achievements in the history of their career. Carry inspires the partners to boost their growth by providing attractive rewards. Through this, they can develop a fruitful eco-system for retail traders, subsidiary companies and the customers.
Even though there has been a rapid growth in the field of online and mobile ecommerce industries, the offline market continues to dominate with an estimate of twenty-five trillion dollars. A study conducted by American Global Management Consulting Firm, majority of the retail spend by American residents had taken place at offline markets. It is a clear indicator that people still relies on the traditional brick and mortar supermarkets. Today, most of the corporate giants are slowly marching towards investing in offline business.
Advantages of Carry
Carry is a protocol who accepts the virtual currency in traditional brick and mortar supermarkets thereby enabling a quick process of payments. This step is put forward with an objective to encourage a returning customer offering digital tokens along with customized branded tokens. The privacy of a customer is secured while they obtain transaction information. In addition, they do have the option to monetize it and at the same time grab loyalty points along with digital coupons. The advertisers can exploit the integrated offline payment data and effectively target the audience without paying any sorts of advertising expenses.
The CRE Tokens
CRE is a major token utilized by the Carry Protocol. The valued customers could take advantage of the CRE tokens in the form of currency and execute offline transactions. CRE tokens are used to make payments to a retail trader in the ecosystem of Carry. They would in turn exploit to develop branded tokens or sometimes even to create a smart contract. The consumers would normally obtain a CRE from advertisers since it can be used to check and verify the consumer data.
Tracking consumer data
It is extremely easy to detect consumer data and efficacy of advertising in an online platform. Nevertheless, this is not the case with respect to an offline market, since the consumer data are scattered and quite difficult to integrate. A credit card companies will be familiar only with the customer, location and the transaction amount without a clear picture about the type of product purchased. Contrarily, the point-of-sales software firms and retail trader are fully aware of date and day of transaction, amount, location and product information without customer's identity. Both of them have their own limitations since they have little access to customer data. It might be difficult to integrate the data owing to challenges involved in privacy rules and regulations lack of trust and stiff competition.
Marketing Campaigns
The marketing campaigns are conducted on diverse channels that have a huge percentage of consumers. An exorbitant fee is charged depending upon the size of the customer base. In spite of huge marketing costs, it is hard to determine how effective the marketing campaign was. The advertising companies are left with no other option instead they are forced to dilute the outcome furnished by the channels. There is a large number of channels who had a strong customer base. As a result, the advertisers depend upon social media and internet giants like Face Books and Google respectively.
The offline retail traders resort to a unique marketing campaign by distributing flyers across the streets. One of the setbacks related to this type of campaign is that it is inefficient and fails to be noticed. Today, merchants invest more than thousand dollars in the supply of flyers in and around the streets. However, this technique does not appear to be feasible in terms of boosting revenue and driving traffic.
Control over customer data
The valued customers have not authority to access the customer data. This information is monetized without their consent. When individual signs up for new services, they often ignore the terms and conditions mentioned and accept it. If we look from the perspective of a customer, there are large numbers of coupons to handle through offline. Today, most of the stores are relying upon paper coupons that ultimately end up in recycle bin. It is still a discomfort for the customers even with the availability of apps that could integrate coupons and loyalty points.
The internal team of Carry firmly believes with the advent of this brand new blockchain technology, it would help in breaking the barriers in the offline market and benefit the customers.
Branded Tokens
Branded tokens are harnessed in the form of a loyalty system. A customer/transaction data kept in a block chain are used to target the ads. The customer data is processed by the advertising companies through eliminating consumers and pick the best ones that suit their marketing needs and requirements. If in case, the advertising companies fail to process consumer data, they hand over the task to an advertising service provider to assist them in tracking the apt customer.
In Carry Protocol platform, the advertisements are transferred as a branded token. It might be in the form of a coupon in order to be used to display another set of targeted ads. The end users will be able to watch the ad being included in the app as a branded token. Now it is at the discretion of customers whether to procure ads via arranging the settings along with picking a certain niche for ad display. Those individuals who prefer to receive ads will be offered a CRE reward. It is normally supplied to safeguard them from spurious ads and spam. An incentive mechanism adopted by the advertisers to offer those customers who have chosen to obtain ads. From viewpoint of advertisers, the advertising cost is considerably reduced while at the same time proven benefit to the customers.
A Carry Protocol allows the advertising companies to detect the ad effectiveness. It is normally executed through online advertisements. The supply and usage of a branded token would help in gauging return on ad spend. It can be used to compare the total cost involved in the conventional method of distributing flyers. A significant change in the offline market can be easily traced by integrating the current information with carry protocol data.
Carry predicts public and privately owned companies and non-profit organizations to enhance their credibility and image without focusing on selling goods.
Token Models :- Smart Contract
A diverse range of features contained in Carry Protocol can be easily accessed via Smart Contracts. A brand token is considered to be one of the major functions of a Carry Protocol. The retail traders can supply branded tokens via Smart Contract. The company is planning to introduce additional features such as product and store reviews by means of a Smart Contract.
A corporate firm takes advantage of Smart Contract by staking a fixed amount of CRE. A usage level for the smart contract is mentioned, but when it is found to be exceeded, the customer needs to pay a fee to be used in CRE. A huge amount of cost is involved in order to execute a smart contract. It is one of the best means to safeguard the blockchain system from future attacks.
As a means to inspire retail traders and advertisers to stake maximum CRE, the per-use-fee of a Smart Contract is fixed at a higher rate when compared to opportunity cost. Those retail traders who prefer to perform several transactions at a time, they will be rewarded additional benefits along with attractive perks as well.
Carry Token: CRE
CRE is touted as one of the major tokens of Carry Protocol. It is purely based on the inflation rate upon the Carry Protocol's growth. These inflations are normally awarded to the consumers as soon as they had uploaded customer data in the blockchain market. Since there is a close-knit between the growth of Carry protocol and increase customer data, it enables the customers to fetch more benefits. The rate of inflation is also automatically altered subject to value assessment of fresh customer data. The data value is determined not only on the basis of transactions but also data associated with SKU and date.
Both per-use fee and paid in fee are collected together in a CRE pool. The CRE from the rate of inflation and per-use fee is included in a CRE pool.
Value-added service provider
A Value added service is also included in a Carry protocol. It guarantees huge support to ensure smooth operation of the services. They do not directly function alongside blockchain, but takes advantage of it in order to communicate with some of the major players involved in the Carry Protocol. It is broadly classified into four key groups namely Wallet Service Provider, Device Provider, Advertising Service Provider and last but not the least Settlement service provider.
Settlement Service Provider
Those retail providers who prefer to convert cryptocurrency to fiat money make take advantage of Settlement Service Provider. Take for example, if a customer wishes to make a transaction using branded tokens, the concerned retail trader requests the customer to send their branded token to a specific address of settlement service provider. The Settlement Service Provider would in turn converts the branded token into fiat currency as per the rate of exchange and returns it back to the retail trader. Even though this process is not carried out in the Carry blockchain, certain suggestions would be raised to create a system within the Carry Protocol.
A settlement service provides would receive revenue in the form of settlement fees, however, they can offer free services.
Wallet Service Provider
The primary role of a wallet service provider is to develop and supply wallets to the discerning customers in the form of mobile applications. They assist them in handling the customer data until it is uploaded on blockchain to gain instant rewards. Wallet Service Provider enables the customers to carry and exploit various forms of virtual currencies such as Ethereum (ETH), bitcoins (BTC) etc. In addition, they operate as an advertising channel on behalf of the customers.
Device Provider
The retail traders must have in storage devices in order to store and transport Carry Protocols. A major medium through which they can interact with the customers, send customer data and upload it on a blockchain.
Advertising Service Provider
The primary objective of an advertising service provider is to organize ad campaigns and monitor customer data representing advertisers to eliminate customers. They are also liable to pay a fee in CRE or stake and need to march via Smart Contracts to supply the branded token
For more information follow below links
Website- https://carryprotocol.io/
Whitepaper- https://carryprotocol.io/static/docs/Carry_protocol-white_paper%28ENG%29.pdf?cachebust=56ce7d511bc65d0aee3d8ba2b2d5c876
Telegram- https://t.me/carryprotocol
Twitter- https://twitter.com/carryprotocol
facebook- https://www.facebook.com/carryprotocol.io/
Author- https://bitcointalk.org/index.php?action=profile;u=1188306;sa=summary