The way we do grocery shopping has not changed very much over the years. The supermarkets have grown and there are fewer greengrocers and butchers, but the vast majority of people use the Saturday mornings to drive to the grocery store to do their weekly shopping. INS wants to get rid of that process and is developing a marketplace that enables suppliers to deliver directly and easily to the consumer. And because she needs investors to do so, she organizes an ICO.
What is INS?
In its whitepaper INS briefly explains what, in her view, the opportunities are in the distribution of daily groceries: “The grocery market, one of the largest consumer markets in the world, is forecast to reach $8.5 trillion by 2020. It is reaching a digital tipping point, with much of its growth to come from online. Online grocery, being the target segment for INS, is expected to grow from $98 billion in 2015 to $290 billion in 2020, according to IDG estimates. Despite the tremendous growth, the grocery market has two large interrelated problems - abuse by grocery retailers and ineffective trade promotions.”
And it is precisely those two problems that INS wants to tackle. The startup wants to develop an ecosystem that makes it easy for suppliers to deliver products directly to the consumer, without the need for a supermarket. According to the company, the prices of daily groceries could be reduced by thirty percent as a result of the elimination of the middleman.
In order to achieve this, INS builds a marketplace where suppliers of goods can register. Through this marketplace they can sell their products directly to the end user. The fullfillment centers connected to the platform will store, sort and pack the goods. Delivery services can also register to actually deliver the goods to the customer. Suppliers can set up reward and loyalty programs via the platform.
The transactions are stored in smart contracts on the blockchain. INS will use the ethereum network, but in the long term is considering designing its own blockchain. Customers can use the marketplace by using a website or an app. For suppliers and fullfillment parties there will be separate sites and apps.
What can you do with the token?
INS introduces the INS Token. This token is mainly for trading on exchanges. In addition, the token is a payment method on the INS ecosystem. Customers can use INS to pay for their groceries and suppliers can use the token for their loyalty and reward programs.
What does the roadmap look like?
This year the INS team was mainly working on the development of the concept, the acquisition of support from suppliers and organizing this ICO. INS claims on its site that various suppliers are interested in their product. After the ICO INS will start with the product development. In the second quarter of 2018 the team wants to develop the apps. The entire platform should go live in the fourth quarter of 2018. 2019 should be the year of growth for INS.
Why this ICO?
INS launches this ICO for two reasons. First of all, the company wants to raise funds to finance the development of the platform. Secondly, to bring the INS Token into circulation, so that the ecosystem can be launched.
What are the details of this ICO?
|Total coins issued||50.000.000 INS|
|Coins at sale
||30.000.00 INS. The cap is 60.000 Ether|
|Price||1 Ether gets you 300 INS|
|Bonus||Yes. The bonus will drop from 25% in the first week to 0% in the last week of this ICO.|
|Data||From the 4th of December 2017 untill the 25th of December 2017|
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