They plan to create a decentralized ecosystem that runs on Blockchain aimed at connecting food producers with consumers with the intention of cutting intermediaries to increase producer profits and lower costs for consumers.
The wholesale market is huge and is estimated to reach $ 8.5 trillion by 2020. Nevertheless the market is dominated by only a few major retailers. In the UK, the 4 largest retailers dominate 76% of the market even though they are more than 7000 producers.
The INS project aims to change this by connecting manufacturers directly to consumers who have to cut costs for both parties by cutting off intermediaries.
Benefits of using Blockchain :
- The new INS platform will use smart contracts that record transaction terms between customers and manufacturers.
- The platform will initially run on the Ethereum network but in the future they plan to release their own Blockchain that will be able to cope with millions of users making multiple transactions per year.
- By using Blockchain, the platform will also be able to reduce transaction costs drastically. By using INS token, transaction costs will be close to zero.
The new platform aims to benefit all those involved. The market will be decentralized and run on Blockchain creating a safe and trustworthy environment.
A new INS token will be a payment method on a platform with tokens used to purchase goods, for manufacturers to run promotions, loyalty programs and to get customer feedback.
Problems with the current market :
- Despite having to sell their products for a low price to the supermarket, the manufacturers were then also hit with high promotional costs.
- Trade promotion accounts for 17% of the sales of producers. Supermarkets even charge manufacturers to place their products in the best areas, making it impossible for manufacturers to assess how effective these promotions are because they do not even have data for the ads they pay.
- In the UK there is even evidence to discover that supermarkets are misusing producers with some of the big penalties currently facing.
- Big manufacturers receive better deals with supermarkets but even they do not get much because the supermarkets have become so big that they even downplay the biggest manufacturers though.
A great distance for food to take to consumers :
- Food travels 1500 miles on average in the US from farm to consumer, this is often unnecessary and expensive waste made by large companies that need to distribute food from the central hub.
Food waste :
- In both distribution centers and supermarkets, large amounts of food are wasted.
- This problem can be easily solved but large companies feel it is more important to ensure that their shelves remain fully charged, putting pressure on store managers.
Ineffective promotions :
- Many manufacturers use an old, ineffective form of promotion. Many are even 'forced' to pay supermarkets to place their goods in the best position around the store.
- Manufacturers spend a total of $ 500 billion on advertising with more than half believed to be wasted and therefore driving costs to consumers.
How big is the market?
- The wholesale market is very expensive and is believed to be safe from the economic crisis, people will always need food.
- The market currently grows over 6% per year and is estimated to reach $ 8.5 trillion by 2020.
- Most countries spend between 10-50% of their total budget for food.
For Manufacturers.
Each verified manufacturer will be able to sign up for platforms to sell their items, ranging from small local farms to global brands.
Once registered on the platform, they can register their products for sale, deliver products that customers order to the fulfillment center and promote their products directly on the platform.
For Consumers.
The platform will aim to offer the best price to consumers but they also plan to offer them the opportunity to earn referrals, receive loyalty points, participate in the feedback program and offer different search categories so they can easily find the products they require.
Initial target country.
The project will initially target the largest cities in the world with the highest concentrations of potential customers. These cities range from Los Angeles to Tokyo with many other transitions.
The platform will also target users with little knowledge of cryptocurrency by creating a simple ecosystem with easy-to-navigate websites and applications.
INS Token.
The token will initially run on the Ethereum network meaning that the contributor to the token sale will need a wallet that receives an ERC20 token such as MyEtherWallet. After the token sale is complete, the token will be distributed to the user's address. When the platform designs the blockchain itself, it will be free to exchange with a new one.
Token will be the only payment method on the website with many uses which means that it serves the original purpose on the platform.
INS ICO almost reached hardcap after quickly selling 90% of available tokens. There are still 10% bonuses available for the next 3 days.
Details of ICO
- Date : Sale starts on December 9th and quickly reaches 90% of hardcap, still 3 days out of 10% bonus left.
- Hard Cap : 60,000 ETH.
- Total Supply : 50 million.
- Price : 1 ETH = 300 INS.
The Success Team of the INS Project.
The team behind this project has a lot of experience with some of those who previously worked in high positions in global companies. They also established Instamart in Russia, one of the largest food shipping operators in Russia, the company has more than 200 employees and has signed contracts with major retailers and manufacturers.
This platform has attracted large investors into projects such as mail.ru which is the largest internet-based company in Eastern Europe. This project has a large number of team members and too many advisors to register.
The two founders of the project are :
- Peter Fedchenkov, Founder: He already has great experience in retail and technology, having previously worked for Goldman Sachs and IBM. He also studied at Harvard Business School.
- Dmitry Zhulin, Founder: A venture capitalist with experience working for Rothschild and PwC among others.
Conclusion.
With so many ICOs flying around it, it's hard to keep up. This one seems like a very good idea with retailers being so big and greedy the price of the goods seems to be higher than it should be. By cutting intermediaries, it should probably reduce costs.
The team behind the project has always been the first thing I look for in token sales, the team behind the project seems to have a lot of experience and there are also a large number of advisors and investors who have supported the project.
There's been a huge demand for tokens so far with sales reaching 90% of hardcap in just a week.
For more details on all the latest developments, and to purchase tokens with a 10% bonus, you can directly see the links below :
WEBSITE : https://ins.world/
WHITEPAPER : https://ins.world/INS-ICO-Whitepaper.pdf
FACEBOOK : https://www.facebook.com/ins.ecosystem/
TWITTER : https://twitter.com/ins_ecosystem
TELEGRAM ( England ) : https://t.me/ins_ecosystem
TELEGRAM ( Rusia ) : https://t.me/ins_ecosystem_ru
ANN THREAD : https://bitcointalk.org/index.php?topic=2208591.0
Author by : 9emb3lelit3
My ETH : 0xc711eD0747EF2408CF9e2316b5A2fb3D71A92ec0
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