The grocery market one of the important sector of the FMCG sector, poised to reach $8.5 trillion by 2020. Currently grocery market is dominated by retailers. They have major control over households worldwide, and have deep impact on what should be grown and how it should be sold. As a result the ineffectiveness is not factored in, so a disruption in this field is very much needed.
The online grocery segment is expected to grow from $98 billion in 2015 to $290 billion in 2020, according to IDG estimates. Thanks to online grocery providers such as Amazon Fresh, InstaCart we are in the right direction. With digital revolution and everything happening with a click, online grocery will see a major change in coming days. And this is where INS ecosystem places an important role with its first global decentralized ecosystem directly connecting grocery manufacturers and consumers. INS provides a platform where consumers can buy products directly from manufacturers, with more transparent prices, wide range of high quality products. This is a win-win situation both for consumers and manufacturers.
INS Ecosystems creates the INS tokens, platform and technology. The aim of the project is to enable direct trade between consumers and manufacturers, reduce the dominance of few manufacturers and create a level playing field which in turn will make products cheaper upto 30%.
To be a part of this INS, the consumer has to create an account on the INS platform such as user profile and a wallet. The decentralized database using smart contracts will preserve all the data. These INS token will be traded on crypto exchanges and consumers will be able to trade including FIAT money.
The INS platform allows manufacturers to participate no matter what how small the manufacturer is, so that he can publish and promote his products, run loyalty campaigns and get feedback from consumers. INS will engage independent fulfilment center operators to join the ecosystem to ignite fast geographical expansion.
Blockchain applications in INS
INS with smart contract will facilitate the sale through decentralized structure and people participate in the ecosystem. With blockchain backed system, payment will be inexpensive and will work more efficiently. A tokenized ledger will be initiated and tokens will be sent and exchanged at different times. The blockchain drives the whole INS platform and this will reduce the time delays, added costs and human errors that plague transactions today, automate inventory control, and streamline fulfilment processes.
Team and Advisors
INS founders, Peter Fedchenkov and Dmitry Zhulin, have known each other since 2010 and work together since 2013. They have robust hands on in the food sector which is supported by their firm Instamart. The team members consist of varied experience where they have worked for IBM, GE, Mail.ru, PWC, Goldman Sachs and McKinsey.
Bancor’s co-founder, Chief Architect and Head of Product Development, Eyal Hertzog is the product advisor. And Michael Terpin the Founder and CEO of Transform Group, a PR firm with over 40 successful ICOs
The roadmap
The INS objective in coming months is to develop the open source and create a platform to incentivize all participants. The first milestone is the implementation of the decentralized INS platform as a set of smart contracts. The second milestone focuses on the frontend and end-user experience through consumer website, a reference implementation of the consumer app, and the fulfillment app and the web interface for manufacturers. The third milestone is ecosystem expansion at scale available where the focus will be development.
The ITO of INS Ecosystems
Start date: 11:00 AM (GMT) on DECEMBER 4, 2017
Payment methods: BTC, ETH, LTC, DASH, USD (bank transfer)
Soft cap: 20,000 ETH
Hard cap: 60,000 ETH
Token exchange rate: 1 ETH = 300 INS tokens
Total token supply (max): 50,000,000
Min purchase: 0.1 ETH
As mentioned on White Paper i.e. after the ICO period, all contributors will receive an ERC20 exchangeable INS tokens on the Ethereum network. The INS token is a core component of the INS ecosystem and is designed to facilitate all kinds of operations that make the token an integral part of the ecosystem and the driver for its economy. The INS token is fractionally divisible, transferable and fungible. The token balances and transfers will be tracked by INS. The INS ecosystem will be expanding beyond the crypto community and focusing its activity on the broad audiences. Providing services to this audience requires perfect knowledge of the grocery industry and its specifics.
INS Token Contract Address: 0x5b2e4a700dfbc560061e957edec8f6eeeb74a320
Analysis of INS Ecosystem
INS Ecosystem consists of very dedicated team, which means they will meet their target and will deliver the product right in time. With proper marketing and community development, product will be developed. The INS platform brings crypto to the daily use products and so it belongs to few cryptos based ERC-20 tokens. This isn’t any pyramid scheme, where they run an incentive scheme.
The roadmap shows the launch will be towards the end of 2018. A functioning app which provides supports to the users, manufacturers and suppliers at the same time is a tough task. If all goes according to the plan then everything looks good.
INS Ecosystem limits the middlemen and retailers, by doing so cutting the cost of products. The groceries available will be cheaper than retail stores and more important the convenience through which users can shop online. Manufacturers can publish and promote their products directly to the users and much more easily on their agreed terms.
INS Ecosystem can be related to something physical state where in we can see the crypto move in our day to day life. This isn’t something which is another glorious version of blockchain based shopping cart. And if major manufacturers are on board and if they are manage to meet their targets within the set deadline then it will gain major traction since grocery is into FMCG sector.
INS Ecosystem focused on expansion across worldwide, this will be boon for manufacturers to distribute small orders quickly and effectively. As groceries are recurring consumption products, so INS provides a huge platform for manufacturers. This may be a first step towards disruption of the retail sector.
More detailed information you can find in these sources:
Official website: https://ins.world/
Bitcointalk Ann: https://bitcointalk.org/index.php?topic=2208591.0
Technical description: https://ins.world/INS-ICO-Whitepaper.pdf
Twitter: https : //twitter.com/ins_ecosystem
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Telegram: https://t.me/ins_ecosystem