I'm sure that most of you have heard recently about INS Ecosystem, a business with a huge success to crypto world enthusiasts and not only. INS has a positive feedback from users and in my opinion, it's one of the best ICO lately. Now, I'm gonna try, in the fallowing post, to describe and make you understand what exactly is INS Ecosystem and why you should consider to take a closer look to this awesome project.
INS is the first global decentralized ecosystem that will enable consumers to buy groceries directly from manufacturers conveniently and at lower prices.
INS will facilitate the direct interaction between consumers and manufacturers. Bypassing retailers and wholesalers means a more personalized and transparent grocery shopping experience at lower prices. Сonsumers will be able to decide which brands they want and goods they need.
INS will enable manufacturers to create bespoke marketing programs to promote their goods directly to the consumers. These programs run on smart contracts and powered by the INS token as a means of reward. It is similar to miles-based reward programs of many airlines, but more advanced, cheaper to run and personalized thanks to smart contracts behind them.
As you all now, the success of a project depends on the team that stays behind it! Therefore, I will present you in a few lines, the briliant minds that made INS Ecosystem possible.
INS founders has a long-standing experience and built one of the leading grocery delivery services in Russia - Instamart. Instamart received more than $10 million funding from the best investors - Mail.ru Group (the leading Internet company in Europe, 7th largest worldwide by page views).
⦁ Sergey Solonin (Founder and CEO of Qiwi Group (NASDAQ: QIWI), the leading provider of next generation payment services in Europe with $10+ billion turnover), and Ilya Yakubson (Ex-CEO of Dixy (MCX: DIXY), #4 grocery retail chain in Russia).
⦁ Peter Fedchenkov, our co-founder and CEO, is a Harvard Business School MBA Alumni and a well-known expert in the grocery industry.
⦁ Dmitry Khovratovich, the chief blockchain and smart contract developer at INS, led the crypto security and smart contracts team that previously developed smart contracts for several companies who successfully completed their ICOs.
⦁ Eyal Hertzog (Co-founder - Bankor);
⦁ Michael Terpin (Founder - Transform PR, Chairman - BitAngels);
⦁ Moe Levin (CEO - Keynote);
⦁ David Wachsman (CEO - Wachsman PR);
⦁ Jan Jelle van der Meer (Partner, PA Consulting Group);
⦁ Rawi Abdelal (Professor - Harvard Business School).
INS received strong interest from some of the largest grocery manufacturers in the world. Select companies who have signed memoranda of understanding with INS include:
Unilever, a Dutch-British transnational consumer goods company with $54 billion in annual sales in 2015 co-headquartered in London, UK. Its products include food, beverages, cleaning agents and personal care products. It is the world's largest consumer goods company. Unilever is one of the oldest multinational companies; its products are available in around 190 countries.
Mars, an American global manufacturer of confectionery, pet food, and other food products with $33 billion in annual sales in 2015, and is ranked as the 6th largest privately held company in the United States by Forbes.
Frieslandcampina, a Dutch dairy cooperative whose main brands include Friesche Vlag, Chocomel, Fristi, Dutch Lady, Appelsientje, Milner, Campina, Landliebe, Optimel, Mona and "Mix'it". It is one of the top 5 dairy companies in the world with annual revenue of €11 billion in 2016. FrieslandCampina has branch offices in 33 countries, employs a total of 22,000 people, and sells products in more than 100 countries.
Valio, a Finnish manufacturer of dairy products and one of the largest companies in Finland with more than €2 billion turnover. Valio's products include cheese, powdered ingredients, butter, yogurt and milk. It is Finland's largest milk processor, producing 85% of the country's milk. Valio's product range currently consists of about 1,000 products. Valio is Finland’s biggest food exporter and sells products to nearly 60 countries.
Reckitt Benckiser, a British multinational consumer goods company with $12 billion in annual sales in 2015 headquartered in Slough, UK. It is a producer of health, hygiene and home products. Its brands include Dettol, Strepsils, Veet, Airborne, Air Wick, Calgon, Clearasil, Cillit Bang, Durex, Lysol, Mycil and Vanish. Listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
INS Ecosystem is designed to solve multiple problems and make e-commerce easier, better, more efficient and less expensive for both manufacturers and consumers by :
Eliminating the retailer’s power abuse factor by completely bypassing wholesalers and retailers, which will result in lower prices for the consumers and lower expenses for manufacturers; Reducing supply chain and logistics inefficiencies, allowing more local manufacturers to be more accessible to the consumers; Reducing waste in various areas of the supply chain; Replacing conventional trade promotions by more personalized , direct and efficient marketing, designed by the manufacturer for their consumers.
When INS Ecosystem is up and running in a city, it works pretty simple. Consumer makes an order via the website or mobile app. The order is processed automatically on the INS platform and supply requests are sent to manufacturers. Manufacturers deliver goods to a smart fulfillment center closest to the consumer's delivery address. Distribution center staff packs the order and passes it to a crowdsourced courier who delivers the order to a customer’s doorstep. Customer enjoys fresh groceries at lower prices!
Now, after I introduced you the INS Ecosystem concept, is time to speak about how INS Ecosystem will incorporate blockchain technology. The blockchain technology is an integral part of our project and it will mainly be used for following purposes :
⦁ INS will be managing a complex supply chain of manufacturers, third-party vendors, carriers and logistics providers. A blockchain of the transaction, containing order details and negotiated fees and commissions (in the form of smart contracts) will be used to capture documents, delivery and possible return events, and drive financial settlement with fewer opportunities for dispute. The public-private nature of blockchain records means that each party can make data visible to the others. All parties have visibility into the transaction and no custom interface has to be negotiated between partners (only to/from the blockchain). This will reduce time delays, added costs and human errors, automate inventory control, and streamline fulfillment processes.
⦁ Building marketing programs on the blockchain is massively disruptive. Manufacturers will be able to directly reward loyal customers with INS tokens that can be spent immediately. The network effects from this will be massive as customers will be highly motivated to spend their INS tokens. Additionally, there is almost no way how suppliers could interact directly with consumers and offer them loyalty programs now.
⦁ Payment processing through blockchain in INS Ecosystem is important to provide transaction high speeds and low prices. The payment process in ecommerce currently entails more than 10 different steps to settle a transaction and up to 15 separate fees to pay for payment gateways, thus making transaction fees range from 2% to 6%, a long route that could be cut short with blockchain use. INS will provide a number of smart contract templates that will be used to facilitate the sale mechanism needed for supply and demand sides to engage in trusted trading transactions, according to various business rules, without the need of a central brokerage entity.
The INS token is meant to be the only means of exchange for handling all types of rewards and one of the means of payment within INS Ecosystem. The manufacturers are required to hold a certain minimum balance of the tokens, while using them for loyalty and promotion programs. The consumers will be able to pay for orders with their INS tokens.
Hoping that I have started your interest about INS Ecosystem, I want to bring to your knoledge the fact that INS ICO has started December 4 11:00 AM (GMT) and ends on December 25 11:00 AM (GMT) or immediately upon reaching the hard cap (60,000 ETH). The price for the ICO period is set at 1 ETH = 300 INS. Bonuses apply for early participants.
I want to end my presentation by sharing with you some usefull links to INS social media, ICO website and others.
Website: https://ins.world/
Twitter: https://twitter.com/ins_ecosystem
Facebook: https://www.facebook.com/ins.ecosystem/
Telegram: https://t.me/ins_ecosystem
INS Whitepaper: https://ins.world/INS-ICO-Whitepaper.pdf
