About INS Project.
The INS project plans 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 only by some 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 producers directly to consumers who must cut costs for both parties by cutting out intermediaries.
(The workings of this INS Ecosystem project, you can see in Video part 1 above).How the INS Project works.
This new platform aims to benefit all those involved. The market will be decentralized and run in blockchain creating a safe and reliable 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.
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 a platform to sell their goods, ranging from small local farms to global brands. Once registered on the platform, they can register their products for sale, send the customer's ordered product 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 chance to get referrals, receive loyalty points, participate in the feedback program and offer different search categories so they can easily find the products they need.
Benefits of using Blockchain.
The new INS platform will use smart contracts that record transaction requirements 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, this platform will also be able to reduce transaction costs drastically. By using an INS token, transaction costs will be close to zero.
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 simple ecosystems with websites and apps that are easy to navigate.
Details of ICO.
Date : Sale starts on December 9 and quickly reaches 90% of hardcap, remaining 3 days from 10% bonus remaining.
Hardcap : 60,000 ETH.
Total supply : 50 million.
Price : 1 ETH = 300 INS.
INS Token.
The token will initially run on the Ethereum network meaning that the token sales contributor 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 the 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.
See also Video part 2 below on the discussion of this INS Ecosystem Project :
Roadmap.
Q2 2017 = The INS concept is created.
Q3 2017 = INS is supported by world renowned manufacturers - Unilever, Mars, FrieslandCampina, Valio, Reckitt Benckiser.
Q4 2017 = INS to perform ICO.
Q1 2018 = Development of INS Platform.
Q2 2018 = Application development, and user interface, and fulfillment.
INS Q3 2018 = Development of SDK suppliers.
Q4 2018 = Launch.
2019 AND BEYOND = Expansion of geography and growth of ecosystems.
Conclusion.
With so many ICO's flying around it, it's hard to follow. This one seems like a very good idea with such a large retailer and the greedy price of the goods seems to be higher than it should be.
By cutting intermediaries, it may have to 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 advisers and investors who have supported the project.
There is a huge demand for tokens so far with sales reaching 90% of hardcap in just a week.
For all the latest development information from this INS Ecosystem project, you can directly see the link below :
