Looking for an innovative way to motivate you and your loved ones toward healthier lifestyles? Look no further! CARELORY is here!

Follow us on Telegram for the latest updates, and let us know how YOU would like to be motivated for a better YOU!

Telegram: BC09 Carelory

Mission and Statement

CARELORY is a homonym for calorie – a unit of measurement for the energy value of food. Tracking the number of calories consumed is one of the different ways to lose weight and to maintain a healthy diet. So at Carelory, we have created a market place for knowledge exchanges between professionals and fitness enthusiasts.

This will enable our users to have a grounded knowledge for them to make effective positive change to their bodies. (Head: well-rounded physical education and dietary knowledge). We believe in assisting and engaging our users to right and be physically active (cultivating the right Habits) through rewards and challenges.

At CARELORY, we believe in transparency. Hence, our rewards are fully transparent and tokenized, thanks to the key technology behind our app – blockchain. With blockchain technology, our users have absolute control over their personal data and it is in our philosophy to not monetize the data of our users.

At CARELORY, we have decide to create a real responsible fitness app in allowing our active activist but also our sponsors to donate to programs which are aiming to make the world a better place and also in associating ourselves to events or performances related to sports, driven by a cause.

Let’s get into better shape and have better Hearts! (the third H‘s of SUSS)

Team Carelory (a.k.a Temasek Group)

The Problem

Health records: Lack of transparency and ownership

In present-day healthcare, there is a lack of transparency between all parties involved. Patients do not have immediate access to health records written by medical professionals. Medical professionals are only able to share data quickly within their own organisation or with other health professionals using the same Electronic Health Record system.

Insurance companies are kept in the dark, unless they request for patients’ data when claims are submitted. Researchers are forced to seek anonymised data from multiple intermediaries, which is both costly and timely. The lack of transparency on how such data is handled also leaves the user unaware of how their data is currently being used.

Patients are unknowingly and in some instances, knowingly, not disclosing their health conditions to insurance companies. As a result of this incorrect information, patients could pay inflated premiums for years, only to see their claims get declined when submitted.

Harmful effects of sedentary Lifestyle

As more and more people experience health problems connected with sedentary lifestyle, one thing becomes clear – we simply don’t move enough. Some don’t have time to exercise, some lack motivation to start, some don’t have the discipline to continue. That’s why we looked for a way to help people move as much as they can, and we’ve found it.

The Carelory Approach

We started on our mission to solve our mentioned fundamental problem, but soon bumped into another – possibility of poor user adoption. Hence, we came up with a fun solution which includes incentives and rewards to boost user adoption. Our solution includes social interactions, challenges to engage the team spirit, and will soon have a “wall of fame” to encourage users and increase adoption rate.

2. Carelory Features

2.1. Wallet

We aim to make it easy for Carelory users to earn rewards in the form of CARE points when they do the right thing – perform physical exercises, follow through with their diet plans, etc. These CARE points get credited automatically into their wallets which are simple and easy to manage – users can review the amount of CARE points they have accumulated, which can be later used to exchange for products and/or services within our Carelory ecosystem. CARE points can also be converted into the exchange-traded SMT Coins, or vice versa. We have also made it easy for users to donate their coins from their wallets to a list of partnering foundations

2.2. Marketplace

Carelory‘s Marketplace is the location for users to browse and purchase fitness items using their CARE points. Items categories would include electronics, sports apparels and equipment, dietary supplements, and even tickets to sporting events!

2.3. Workout

Under Carelory‘s Workout section, users can select their own personal trainers after assessing their reviews and profiles. Using CARE points, users can subscribe to full training programs which are submitted by the coaches. Training activities are also customizable to fit their desired goal, intensity level, commitment and workout preferences. To make workouts fully customized to each individual, users can even contact trainers to seek further advice and tips through Carelory‘s instant messaging!

Live instructions from your trainer

2.4. Nutrition

True wellness can only be achieved when activities are combined with a balanced nutritional plan. At Carelory, users can also earn CARE points when they stick to their diet plans with reference to their fitness goal, medical conditions, food preference or restrictions. Through Carelory, users can communicate instantly with nutritionists who offer advices and conduct follow-ups with a live chat.

2.5. Donation

At Carelory, we emphasize the importance of supporting global causes like reducing plastic pollution, save the planet, plant a seed and many more by granting users the option of donating their CARE coins to an adopted foundation or responsible organization.

2.6. Achievements

To increase the level of engagement and motivation, users can earn badges when a certain goal is reached. Goals are not limited to just levels of activity but also CARE points donated, CARE points spent in market place, CARE points won through challenges and competitions, CARE points exchanged. Groups and users will get notified when achievements are attained giving them a motivational boost.

2.7. Social Encouragement

At Carelory, we have added a social layer where users can interact with each other privately and share their experiences. It is a fun way to share progress and create a community dedicated for wellness and fitness. We will include an on-boarding functionality which will encourage users to invite more of their friends to the community and the best of all, they will get rewarded for it!

2.8. Native Integrations and Wearables

Be it iOS or Android, users can link Carelory to Apple Health and Google Fit, which are existing and excellent ways for advanced tracking of physical activities with the ability to capture even running speed and elevation. Additional integrations to Carelory‘s ecosystem will be a continuous process with continuous effort. Carelory will be developing its own technology that synchronizes well with other data sources for better accuracy.

3. Business Model

Carelory is a free application which allows users to immediately start using the platform for free and earn coins. Subscriptions are available in-stores. Free users as well as subscribers will be able to earn CARE Coins which can be converted to SMT coins. They will have access to our Marketplace to convert their CARE Coins into gifts.

However, subscribers will benefit from discount of minimally 30% on all products and services offered on Carelory.

Carelory‘s subscribers will also be assigned to different levels of conversion rate. The more physically active they are, the better the conversion rate in CARE points will be. Such premium subscription will allow them to reach their number of CARE points needed to access their favorite rewards!

3.1. Revenue Streams:

3.1.1. B2B2C

We offer monthly recurring packages at 9.99 SGD on app stores or direct online billing. Discounted packages are available for 6 and 12 month subscriptions.

The company will get a margin from the difference of the products gifted by the sponsors and the face value (token value) of those products/services in the Marketplace. We will have “Challenge” functionality operational within our application, we will take a margin on our users’ bets. This commission will be 20% for free users and 10% for subscribers. 5% of these commissions will be donated to our partnering foundations. Users will also be able to buy points for the marketplace directly inside the Carelory application to benefit from the listed products and services inside the MarketPlace.

3.1.2. B2B

Through its sales team and agreements with sales force organizations and also an online affiliation program, Carelory will distribute its White label versions to customers such as gym clubs chains, sports federations, government or administrations, local transport organizations, and more generally to companies who are looking to incentivize their customers or employees through a reward program based on physical activity.

4. Token

In order to achieve traceability and transparency, we will use SmartMesh Token (SMT), an Ethereum based ERC20 token that aims to become the preferred method of reward through the Spectrum blockchain. The adoption of cryptocurrencies will impact the way we live in the future and Carelory is poised to play a leading role in this new era.

Upon making the right choices or performing physical activities inside Carelory’s application ecosystem or through one of our affiliated partners our users are rewarded with CARE Points, these CARE Points can be easily exchanged to SMT coins which are issued and powered through the SmartMesh smart contract.

SMT Coin is already listed on crypto exchanges for trading, we at Carelory has agreed that 1 CARE Point will be equivalent to 1 SMT Coin, during our initial phase. Carelory uses the Spectrum Blockchain for decentralization purposes and the creation of CARE coin(s). This decision was made in order to provide the best service and protection. Carelory offers customers fast and effective transfers on any electronic wallets existing on the platform.

Meshboxes installed with Carelory, can be deployed at partnering groceries and sundries stores, restaurants, fitness centres, health and wellness centres or even hospitals, to provide CARE points exchanges for P2P payments of goods and services through SmartMesh’s Photon Network.

4.1. Health Data Revolution

Bold companies like 23 and Me, Fitbit, Apple, Nest, and Qardio are rapidly innovating to expand the frontier of collectable data. We already have remarkable access to anatomic, biological, environmental, genomic, phenomic and physiological data. New ideas and technologies, such as Carelory and MeshBox, will only move this frontier further. If we can connect these disparate data sources, then caregivers and researchers will have unprecedented insights into patient’s lives. Ultimately, this will lead to lowered costs, better healthcare for patients and better research.

At Carelory, we continuously strive to create integrations with IOTs and synchronize the data for justifiable rewards.

Oura Ring that tracks heart rate, heart rate variability, temperature, activity, and with sleep monitoring technology.

These are some of the growing number of IOTs and wearables that are able to track different metrics of a human body. Important data points of an individual’s health such as daily heart rate, blood pressure, skin temperature, sugar level etc, are collected and stored by Carelory onto SmartMesh Spectrum blockchain only.

undergarments to measure skin temperatures
wearable device to track Cov19 symptoms

4.2. Carelory – the user centric model

In current medical industry, physical medical record belongs to the physician who created it. Patients have their health information spread over multiple systems, hospitals, networks and potentially countries. There are multiple fragmented records of the same patient, held at different institutions with their own snapshot of the patient’s health during their interaction with them such as blood tests, imaging, and clinic letters. Carelory‘s collaborated effort in contributing such important data points of its users on Spectrum blockchain encourages the return of ownership of such medical records to the patient. Users of such initiatives can finally have ownership over personal data and choose who to share such insights with (for example, hospitals or specialists or Carelory to earn CARE points).

At Carelory we believe Telemedicine, an online consultation with a doctor and patient using a webcam interface, is set to be the future of consultations.

Patients using our blockchain will be able to choose the level of detailed access given, and allocate viewing rights to their chosen doctors for as long as they feel necessary.

As with the founding principal of Carelory, everyone should have control over their health records, and they should also benefit from the potential value that they possess.

Carelory will connect research institutions with users who are willing to have their health data used in studies in a health data marketplace. Users will be given clear information as to how their data will be used and what data will be required. In many cases, anonymised data will be permissible, ensuring the privacy of everyone involved.

With the utilisation of data compliant MeshBox as nodes alongside borderless blockchain technology, users will be able to have their records with them no matter where they are. Healthcare services become borderless as telemedicine services allow users to interact with practitioners in other countries. This will be particularly beneficial for frequent travellers and those moving abroad who want to avoid the inconvenience of transferring their health records to their new provider.

Carelory will create an online ecosystem where potential contributors and customers can quickly and easily veritably transfer funds. Cryptocurrencies, when correctly implemented, is the logical solution to an ongoing issue with the traditional financial ecosystem. It readily solves a major impediment to investment innovation and growth.

5. Powerup with MeshBoxes

MeshBoxes juiced with Carelory deployed at checkpoints of events
MeshBoxes juiced with Carelory deployed at Gyms

We reward the users when they make the right choices in choosing healthier options, which can be achieved only with MeshBoxes!

6. Financial Model

6.1. Valuation and Financing

  • The estimated Valuation as at Year 5 for Carelory is $12,188 with 4.875 Million registered users.
  • The valuation of Carelory for the initial investment is based on a 5-year projection based on the intended lock-in period for investments at 5 years and a valuation of $2.50 per registered user.*
  • Discounted at the rate of 8.75%, the Present value is $8.2 Mil.
  • This represent a discounted opportunity as further and more extensive growth is expected after Year 5, when the application exits its development stage and continues its growth stage.
  • The Financing of Project Carelory will be via SMT (SmartMesh Tokens) and Cash (for various expenses where Cash is only acceptable.)

6.2. Distribution of Initial Offerings ($’000)

Investors – Accredited20%$1,640
Crowd-funding / Users10%$820
Temasek Consultants / Management & Operations20%$1,640
Others (Rewards)50%$4,100

6.3. Cash Flow Projections


Daniel Lee

Chartered Accountant, Educator and perpetual learner. Daniel had a addiction to technology since the early 80s, and developed financial systems while with various Fortune 100 companies. Daniel retired from the corporate lifestyle in early 2000s to pursue his varied interests including helping Family Offices in the past decade.

Helping people and making friends

Brandon Chua

Pursuing Master of Finance @ SUSS
Business Intelligence and Analytics Manager @ Goodyear
Led teams across various industries: Banking, Pharmaceutical, Gaming, Manufacturing, FMCG.

Coding is my life

Zhang Zhenyi

With an academic background in Finance, Zhenyi firmly believes in the benefits Blockchain can bring to the inclusive society. After spending years as an emergency responder, Zhenyi left the frontlines to join the fintech industry.

I love making sense of numbers

We joined this competition with the group name Temasek . Temasek – is an early recorded name of a settlement on the site of modern Singapore. We have chosen this name to always remind ourselves of our roots – SUSS.

“It is in the roots, not the branches, that a tree’s greatest strength lies.”