INS : buy grocery on blockchain
Grocery is one of the world's largest markets, with up to 50% penetration in the customer's wallet.it is expected to read 8.5 trillion dollars by 2020 and much of the growth is expected to come from online. In many countries, more than 80% of the market is controlled by a handful of retailers, abusing their market power, marking up manufacturers' prices by atleast 30-50% and using inefficient supply chains leading to higher cost and food waste.
Manufacturers also spend heavily on trade marketing which accounts for nearly 17% of manufacturer's expenses and is not directed to consumers. Retailers abuse customers by indulging in faulty trade promotions and charging high prices forcing consumers to make poor choices. Nowadays the technology is advanced and with this advancement, the level of supply chain and logistics has also elevated but we still purchase grocery like we live in the middle ages of grocery industry. Retailers force the goods onto the consumers and consumers are left with no choice but to purchase the goods. It is time that the consumer takes control of what he wants to buy and from whom he wants to buy. This is called the pull paradigm.
INS PLATFORM
INS platform connects consumer directly to the manufacturer and the manufacturer provides competitive prices and handy home delivery. Every manufacturer controls its products pricing and listing. Customers' orders are aggregated and requests are sent to manufacturers. Manufacturers forward the orders to smart distribution centers. Couriers pick up the order from the distribution center and deliver it to the customers.
With INS, customers will be able to save up to 30% on grocery items when they buy directly from the manufacturers. INS aims to eliminate wholesalers and retailers. By doing so, INS will provide a shopping experience at a lower price that is unparalleled.
Customers will be able to provide quick and elaborate review to the manufacturer about the product. This review or feedback will be beneficial for the manufacturer to organize effective marketing and promotion campaign. The vision of the project is old but with the help of blockchain, crypto currency and smart contracts, the vision can be renewed and can become reality. Blockchain and smart contracts facilitates maintenance of supply chain and management of marketing campaigns.
ICO AND TEAM
INS token will be used to make payments within the INS ecosystem. Marketing and rewards will be facilitated by the INS token. Token goes by the name INS and is ERC20 token on the ethereum network. There will be a total of 30,000,000 tokens available for sale during the ICO.
The team is a decent one with people having background in finance and retail. CTO has experience and knowledge in blockchain technology. The team still needs to put some kind of MVP or prototype to gain trust of the people.
CONCLUSION
INS project is much awaited by consumers and grocery industry giants have shown interest in the project. The mission and vision of the project is to develop a marketplace where consumers can shop for grocery products at reasonable prices and manufacturers can break the shackles of retailers and wholesalers. INS ecosystem is shifting the paradigm of the grocery industry. The main drawback is the lack of a working prototype or minimum viable product. The ICO will surely be successful but I suggest you to wait until they release some sort of prototype for the people to test.
Website - https://ins.world/
Whitepaper - https://ins.world/INS-ICO-Whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=2208591.0
Telegram - https://t.me/ins_ecosystem
Published by - coineaglebt
Btalkprofile - https://bitcointalk.org/index.php?action=profile;u=1936073