We ?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
Summary of 1st IEO/ ICOMINT distribution Starts on 1st Mar’ 2020
Bounty & ICO Program
Start of campaign : 10 AM (GMT) on Nov 1, 2019
End of campaign : 10 AM (GMT) on Mar 1, 2020
Bounty Program : Million Dollar Bounty Program to run from Nov 1, 2019 and end on Mar 1, 2020
No of coins Issued in the Bounty Program = 10,00,000 (1 MINT = 1 US $)
ICO Program : The Bounty & ICO campaign will culminate into opening of window for 1st ICO for $ 20 million.
Start : 10 AM (GMT) on Feb 1, 2020
End : 10 AM (GMT) on Mar 1, 2020
Payment Methods: Bitcoin/ETH/XRP, US$ (bank transfer)
Soft cap: 10 million US$ or equivalent Bitcoin/ETH/XRP
Hard cap: 30 million US$ or equivalent Bitcoin/ETH/XRP
Exchange : 1 US$ = 1 MINT
Coins to ICO participants (max in this ICO) = 4,00,00,000
What is MINT ?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.
MENTORS IN THE JOURNEY - BUDDIESThe alumni of the World Fame Engineering Institute, IIT Kharagpur, India has acted as a mentor in guiding the promoters to invest time, energy and resources to the development of Blockchain technology for a Business case as large as the global commerce. The development of any technology is for the greater good and happiness of the people. The lack of threshold level in digitalization in retail commerce (only 10 % as on date) was taken as a problem to solve and will be targeted by CarryKoin with utmost speed and scale worldwide. Further, resources will be committed for development of new Blockchain technology in 7 years time, which can record millions of transactions per second, take less storage space and low computing power. The world commerce shall be migrated to this blockchain application. The mentors have felt that an endevour of this scale will be true service to mankind and will spread happiness.
The promoters convey their gratitude to the mentors. The mentors will be guiding/ participating in future to realize the potential of this endevour.
Mentors who started/ participated this journey of the promoters are -
Vivek Jain
Age: 47
Education: MBA, Faculty of Management Studies, Ajmer-1997
Experience:
- Entrepreneur: Importer- China, Taiwan and Japan (13 years),
- International Sales head for Living stones JewelleryPvt Ltd, Mumbai (4 years),
Present location: New Delhi, India.
Aditya Pratap Singh
Age : 48
Education: Integrated MSc from IIT Kharagpur, M.Tech - IIT BHU- 1995
Experience:
20+ years in IT industry with companies like Infosys and IBM primarily in Retail industry.
Present Location : Bangalore, India
RohitGoel
IIT Kharagpur-1995
A strategic leader in the e-commerce domain having more than 20 years of experience. Has Co-founded “Manchitra” in 2000, which provided online maps and driving directions in India, Enterprise GIS and Workforce management solutions to telecom companies and later got acquired by Israeli Company Clicksoftware. An angel investor and mentor for startups. Location : Delhi, India
Shashank Khare
IIT Kharagpur-1995
20 years of entrepreneurial and
product/technology development experience
Developing a disruptive crowd powered distributed short haul logistics network through technology which lowers cost and time substantially compared with existing players.
Location : Delhi, India
Rakesh Mohan
Age - 49 years
Education - Electrical Engineer from BIT Mesra
Work Experience - 26 years with different business verticals in Energy sector. Presently managing Project Engineering and Procurement Support in Doosan Power, Korean MNC in India. Well travelled with vast experience.
Location - Gurgaon India.
Naveen Chandra Jha
Age - 53 years
Education - Electrical Engineer from MACT Bhopal
Work Experience - 28 years with different business verticals in Power sector with 5 companies in India and in Gulf . Presently managing a IWPP in Kuwait.
Location - Kuwait
PROMOTERS & BUDDIES Raman Viswanath
Age - 49 years
Education - Mechanical Engineer from IIT Kharagpur- 1991
Work Experience- 26 years with different business verticals
Passion - Marathon Runner
Location - Singapore
Shankar Narayan
Age - 49 years
Education - Mechanical Engineer from IIT Kharagpur- 1991
Work Experience - 26 years with All business verticals
Passion - Kids
Location - New Delhi, India
SaurabhRanjan
Age - 48 Years
Education - Post Graduate Diploma in Human Resources from XISS, Ranchi
Work Experience - 22 Years in diverse industries, operating over multiple jurisdictions as head of human resources. Key strength is turning workforce into a winning team.
Passion - Photography
Location - New Delhi, India
Manoj Kumar Pegu
Age - 49 years
Education – Mech.Engineer from NIT Rourkela.
Work experience - 26 years EPC major
Passion - Travelling
Location – Dhaka, Bangladesh.
The Promoters commit to remain with CarryKoin for next 20 years as promoters. One key thrust of the promoters will be to groom successors who will take over the company. The company will have 300 years as its intended life to pursue human happiness.
History of CarryKoinThe initial seeding of the company was done by the mentors and advisors, initially as a small service company taking up local shop keeping work. It was January 2015. A very busy Vivek Jain was tasked by his wife to get an urgent list of household items. He was annoyed with the thought of stepping out of his house and taking the hassles of parking, shop to shop searching for the items. Well, if Flipkart, Snapdeal, etc can get you items from far off places, why can’t we have someone do this job for the local shopping. The desire to provide a solution was seeded that day. Every product in every vertical that a consumer may need in his local area should be accessible with real inventory, can be ordered through the smart phone, delivered on the same day, no delivery charges (or very minimum) and with exchange facility.
Well, the consumer may have his favourite shop in some another part of the city or even in another city anywhere in India or even in some another country anywhere in the world? So how to get access to all these shops across India &the World with real time inventory and completely online?
A consumer likes to buy a product/service on the trust & faith that he has already experienced at a shop, so he is more interested in a preferred trustworthy shop as compared to buying a product from any isolated seller at any portal. That’s where the idea of CLUSTER was thought.
This idea was given shape to form a local commerce company and a small start-up was run. An office was opened in Gurgaon, India and field team was recruited. The team did a lab work with some 100 retailers and 10,000 consumers. Technology was outsourced and an App was made.
Sadar Bazaar, Delhi, India was the first cluster, which started in January 2016. Whole sellers & retailers were enrolled. A large chunk of Delhi population visits Sadar Bazaar for their shopping because of price difference of 30-40% as compared to any other retail market in Delhi. But the streets are too narrow and it is very difficult for two persons coming from opposite directions to cross each other. Consumers wanted goods from Sadar Bazar, but did not like visiting the shops. Here was a problem to be solved. The shopkeepers responded enthusiastically to the online portal. Traction was successfully carried out for a period of 12 months before it was closed down.
Asia’s biggest sub-city Rohini, Delhi, India was the second cluster. Rohini has high percentage of residential apartments & commercial malls. It has 8% of Delhi’s population. The second set of team worked with the retailers. The response was wholesome. They started uploading products on their own in the App. Cluster scheme was a hit as 100% of their orders were within the radius of 5 km of their shop. They booked orders online, delivered the products same day on their own and collected payment on Cash On Delivery model. The ground team worked round the clock monitoring traction (order booking to delivery), getting the shops on line, micro managing the merchants’ stock update in real time, visiting customers in Rohini apartments for feedback before it was closed down. Consumer behaviour insight was the biggest gain here.
The above two cluster operations are the critical lab work for testing the business model and maturing the thought process. Following this, the promoters joined to ideate and gave the global vision of the company. The old plan was discarded and the business plan was enlarged to a global service e-commerce company. Vision, Mission and Values statements were drafted and the ambitious scale of implementation was made.
The global scale rollout required huge investments for a self-sustaining national rollout in India in the first year followed by international rollout in the second year.
Then started the journey of presenting to VCs, Wal-Mart, Google, Softbank, Alibaba for investment to form a pure e-commerce service company.
In Feb’ 17, Alibaba was the first major company with deep pockets, which started discussions. In Mar’ 17, Wal-Mart India was approached for partnership. In Apr’17, it was deliberated to have highest standard of technology commitment and Google was identified as one possible company to be the technology partner. However, partnership did not happen.
There was churn among the group in the business model to be pursued – either as a service model or as a technology model. Two groups branched out.
The 1st group (present promoters) discarded the service model and has adopted the technology model. The present promoters have identified two problems to solve – (1) Increase digitalisation of retail from present 10 % to 100 % (with gain in social equity, employment generation and efficiency of commerce) and (2) Invest in developing next level of blockchain technology, which allows millions of transactions per second, needs less storage, low computing power and is equal in cost with the centralised data base system. The initial investment required was to be crowd sourced from ICO participants.
CarryKoin was named on 1st Mar’ 18 and the promoters wish it a life of 300 years for serving mankind by solving everyday problems and making them happy. CarryKoin sees value in having Social purpose of its existence. Stopping farmers from committing suicide by giving maximum realisation of the produce to the producers and employment generation has been taken on board. Facilitating a market place for farmers has been adopted in the Rural clusters of CarryKoin. Promoters identified Timing as a very important issue in realising the goals. Penetration of smart phones to 50 % of population and cheap data availability by 2018 was identified as the main enabler.
The 2nd group (mentors) went on pursuing the service model and sought partnerships for investments with no result. The mentors have remained associated with the present promoters in guiding and supporting the development. Further, the alumni of the world fame engineering institute, IIT Kharagpur, India has also invested their time and energy in guiding the present promoters to work on developing Blockchain technology for a business use case. Present promoters expect the mentors to join and come on board as CarryKoin evolves and takes growth path.
Camford Law Corporation of Singapore was subsequently appointed as the legal advisor to CarryKoin Pte.Ltd and the company was registered in Singapore.
An year long exercise has been done in Pre-Planning of the business juggernaut, which led to multiple negotiations and presentations of IT vendors, Colocation vendors for Data Centre management, ICO launchers with the nuances of crypto dynamics and smart contract. This has led to formalisation of the White paper, Business Plan, Crypto economics, Technical, Roadmap, etc. MINT was adopted as the next global digital currency in Mar’ 2019 after analysing SEC regulations in few ICOs and implication of Howey test on currencies/securities, etc. MINT will meet all terms for a sound digital currency the world must have. A reward model Minto has been worked out, which will be the main incentive running through the e-Commerce market place of CarryKoin. Minto has been hedged with MINT coins of the Country Node on 1:1 ratio and shall create demand for MINT coins.
We are approaching you for Pre-Raise of US $ 200KWhy this pre-raise ?The pre-raise is for the following –
- cost of doing the 1st IEO/ ICO
- cost of registration and office establishment in India
- cost of digital content creation, PR, listing & outreach
- establishment costs of Singapore office
How is the participant rewarded?On successful completion of 1st IEO/ ICO, MINT coins shall be issued to the participant in the ratio of 50 MINT coins for each dollar participated (1 MINT coin = 1 US $)
