CARRYKOIN is a e-Commerce company based in Singapore providing a marketplace for solving the following problems –- converting offline shops to online globally- creating a reward/ loyalty system on the marketplace through MINT. MINT is the global digital currency created during investment raise on an IEO/ ICO platform. - a new age blockchain platform that can support millions of transactions per second with low computing power and low storage requirement - migration of all commerce on new age blockchain
MINT is digital currency which does not belong to anyone, decentralized, not tied to any country or geography, consumption driven for global commerce. It is created as a global currency in a new and disruptive approach to digitalise Offline to Online e-Commerce in a unique way.Unique features –- Decentralised, not owned by anyone, belongs to the world- The currency provides its own internal regulation, distributed ledger on a blockchain - Global validators for enforcement of internal regulations- Stable, Non- fluctuating - Not tied to any country or geography- Consumption in global commerce by buyers and sellers (largest blockchain application ever powering world commerce and spread of currency)A giant mine of 20 trillion MINT coins gets created (1 MINT pegged at 1 US $) with the participation of global community in the 1st ICO/ IEO of CarryKoin. To become a participant, the contributor creates an account on the CarryKoin ICO platform. During the registration & required KYC, the system will create a user profile and a wallet. Each participant of the ecosystem will be provided with a wallet that preserves all data in the decentralized database and interact with other parties, using smart contracts. For the ICO/ IEO –- Fiat Currency US $ (Bank/ Credit transfer) is acceptable payment mode- Bitcoin/ Ether/ XRP will be accepted After the ICO/ IEO is completed, the participants/ stakeholders will receive the MINT coins as per the Tokenomics. The MINT coin is fractionally divisible (up to 3 decimal places), transferable and fungible. All coin transfers and accounts will be tracked. In case of force majeure eventuality of theft, contract compromise, etc. we may opt to freeze the fraudulent transactions and restore the coin registry to certain date.A blockchain application will be limited initially to the smart contracts for record keeping of 400 million MINT coins only. As the digitalisation of commerce spreads globally through CarryKoin, consumption of coins will increase and the coins will be supplied by the giant mine of 20 trillion MINT coins.Spread of MINT from the Giant Mine –- The Giant mine will be securely locked under protocols set by a conservative governing body, which will later evolve under a global trustee with representations across the world. - Initially, MINT coins can be released only when an equivalent fiat currency (or Bitcoin/Ether/XRP) pegged at 1US$ are received when invited. We expect to invite up to 200 million US$ from global community through multiple ICOs of CarryKoin. This will release 400 million MINT coins to ICO/ IEO participants, Promoters, Advisors, Bounty Participants, Initial Trustees apart from creating India Country Code for incentive applications. India Country Code will hedge MINT coins in the ratio 1:1 with the incentive/rewards points Minto.- When CarryKoin expands to a new country, another Country Node for that country will be created. And based on the business projection, the Giant mine will issue equivalent amount of MINT coins to that Country Node matching Minto reward points required for 1 year of sales in that country.- The economic activities of CarryKoin will create value for MINT. As its value crosses 1 US$, the Giant mine will release further more coins in proportion to existing stake with holders to increase liquidity for consumption, while keeping the value per coin at 1 US$. This action will continue as and when required based on decision by the governing body. It is an endeavour to ensure liquidity of increasing demand and desired stability of the currency by keeping the purchasing power per coin at 1 US$ maximum- CarryKoin will reach out to global community, banks, universities, financial institutions, fund houses, esteemed bodies, individuals, local bodies of repute, exchanges to be the nodal validators of transactions and recognise the currency MINT. The validators will earn coins released from the Giant mine. - The CarryKoin platform will be open sourced for development of all that meets commerce, which will fast pace the use of MINT/ Minto globally for applications- As the CarryKoin e-Commerce reaches global scale, makes footprints in each and every country, brings in the digital era and all shops to the customers palm and all customers to the reach of a single shop, we will see pure play of immersive shopping experience not just limited to AR/ VR/ holographs, but going beyond in bringing out economic and social changes. - We expect CarryKoin to reach global scale in 10 years time. At this point, the Giant mine is likely to get exhausted, 20 trillion MINT matching 20 trillion US$ of consumption. Blockchain & Reward System on CarryKoin Blockchain is for the following - Raise 200 m dollars from participants through ICOs/ IEOs. The blockchain will maintain the MINT coins ledger. The money raised will be invested in the CarryKoin market place.- Rewards / Points system (Minto) on CarryKoin shall be hedged with MINT coins on the Country Node. Country Node will be on this blockchain.- The blockchains as on date are costly due to large computing, power, storage requirements and are very slow on transactions. We need new blockchain model, which can cater to millions of transactions per second, will need very low computing power & storage space similar to centralised database system and will be cheaper and easy to maintain, while having all the good qualities of a blockchain. There are none now. A large part of the Revenue earned on CarryKoin market place (around 20 %) will be invested in creating this new model of blockchain. We expect to create the same in 7 years time. The global commerce can then be migrated on this blockchain. Reward system in the CarryKoin platform - Minto is the name of the reward point on the CarryKoin network- For each $ of purchase, 0.25% of Minto will be given as Reward point to the customer by the shopkeeper- 1 Minto = 1 $ worth of redemption- Validity – Lifelong- Each shopkeeper based on its annual sales will be given Minto for 1 year of reward system free as joining bonus- We expect 30 billion $ of sales from India market per annum, which means 75 million of Minto to be given as joining bonus for sales over a period of 1 year- Minto is hedged 1 : 1 with MINT with the Country Node, which is on the blockchain ledger of MINT coins- India Country Node will have 77 million MINT coins as per the Tokenomics- When CarryKoin expands to a new country, another Country Node for that country will be created. And based on the business projection, the Giant mine will issue equivalent amount of MINT coins to that Country Node matching Minto reward points required for 1 year of sales in that country.- Whenever, value of MINT crosses 1 $, the Giant mine will push new MINT coins proportionate to the holding of stakeholders to keep the value at 1 $. As the Country Nodes gains more MINT coins, it will populate equivalent amount of Minto to the holders automatically. Thus holding of Minto gives more redemption bargain to the customers. - As the Minto is exhausted with shopkeepers after an year, they will buy more Minto on the CarryKoin platform from the Country Node. The Country Node will first buy MINT coins from the exchange and then populate equivalent Minto to the shopkeepers. Thus demand for MINT will keep increasing on the CarryKoin platform.
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