||The INS ecosystem will become the first global decentralized grocery marketplace where consumers can buy products directly from manufacturers, enjoying low transparent prices.Manufacturers compete for consumers and interact with them directly.
INS Ecosystem Limited, incorporated as a BVI company (“INS”), is the official entity that creates the INS tokens, platform and technology. INS is focused on releasing open source cryptographic technologies that enable operation in the INS ecosystem.
For the avoidance of doubt, the INS tokens do not provide token holders with any ownership or other interest in INS. Token holders are not entitled to any guaranteed form of dividends,revenue distributions, and voting rights.
To become an ecosystem participant, the user creates an account on the INS Platform. During the registration, the system will create a user profile and a wallet. Each participant of the ecosystem will be provided with a wallet that preserves all data in the decentralized database and interact with other parties, utilizing smart contracts. We plan to place the INS token on cryptographic token exchanges, giving an opportunity to openly buy them (to residents of countries where the purchase of digital tokens does not violate local laws).
INS is a decentralized ecosystem that facilitates the order fulfillment process and allows manufacturers to join it, publish their products for sale, carry out promotion and loyalty campaigns, and get feedback from consumers, enables consumers to order those products and vote for new products and manufacturers. The INS ecosystem has been validated by consumer interest and has received strong support from manufacturers.
At the INS Platform, every manufacturer controls product pricing and listing. The Platform aggregates all orders and sends requests to manufacturers who deliver products to smart distribution centers. Professional pickers at distribution centers collect orders and pass them to couriers. Couriers deliver orders to customers.
The main role of the INS is to develop the open source technology required for running the decentralized ecosystem and create a successful model to incentivize all participants.
The INS token is the only means of exchange for handling feature-rich & consumer-oriented marketing, bonus and discount campaigns within the INS ecosystem, and also serve as one of the currencies for buying and selling products.
This project will disrupt the existing grocery retail industry and become a new standard driving accelerated adoption and massive usage of the INS token.
Blockchain and smart contracts provide the tools and framework to create a new generation of marketplaces where supply and demand sides can engage in trusted trading transactions, according to various business rules, without the need of a central brokerage entity. Consequently, the same way online marketplaces disrupted many traditional brick and mortar businesses, blockchain and smart contracts will give birth to a new kind of peer-to-peer marketplaces that will unsettle the current ones.
INS will provide a number of smart contract templates that will be used to facilitate the sale mechanism. The peer-to-peer structure is the perfect fit for the decentralized nature of the INS ecosystem and has the benefit of handing over the power back to the people participating in the ecosystem.
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. Blockchain is the perfect tool for ecommerce to be more efficient and more trustful.
Payment processing through blockchain has a significantly bigger potential for transaction high speeds and low prices, let alone all the possible variety of ways smart contracts can improve both ecommerce and payments. A tokenized ledger will provide a complete token-based system, similar to “real” money where tokens are sent and exchanged at different times and for different reasons, based on predefined rules and events.
Ecommerce companies must manage 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).
The blockchain is the system of record for the entire transaction. It doesn’t merely record the transaction, it drives the whole process. This will reduce time delays, added costs and human errors that plague transactions today, automate inventory control, and streamline fulfillment processes, but errors to some extent are possible since grocery products are not digital, the blockchain records of their track is inevitably post-factum
||Products in the consumer markets constitute the basic item that actions revolve around. To make it simple and convenient, products on the INS Platform are required to have several defined parameters, such as name, category assignment, volume, price, description, ingredients, etc. that makes it easy to find and choose products for ordering.
Consumers choose products to buy, specify delivery details, and pay in fiat, BTC, ETH or INS tokens. Depending on the payment method, consumers will be eligible to different prices and rewards.Consumer can order products using the official INS website, the official app or a derivation of the official app released by a specific manufacturer.
The decentralized file storage network (we explore different options from IPFS to Storj) is used to maintain up-to-date databases of products listed by manufacturers. Consumers can apply sorting and filters to choose what they want to buy. Manufacturers may distribute proprietary apps derived from the reference implementation, in which they can choose specific sorting methods and filters for products.
68% of consumers that shopped online say they are very likely to switch grocers for a better online shopping experience (quick, easy, convenient, enjoyable) . Browsing tens of thousands 20 of products online can be very daunting for consumers, so we will make it as easy as possible for them to find the products that they love. For instance, we will provide catalogue filters for item attributes such as Local, Gluten-Free, Organic and On Sale