INS: A global decentralized wholesale market ecosystem
The global grocery industry is dominated by mass market retail chains. At the national level in many countries, large wholesale market shares are often in the hands of some retailers.
While some amount of buyer power is understandable and is only desirable for competitive advantage, High levels of concentration lead to an imbalance of buyer power in the supply chain.
INS founders gained a first-hand and practical experience in the grocery industry while developing and growing Instamart, the largest venture-backed grocery delivery operator in Russia. Instamart employs over 200 people, has signed contracts with the largest retailers in the country, and works with the leading grocery manufacturers.
The INS ecosystem will become the first global decentralized grocery marketplace where consumers can buy products directly from manufacturers, enjoy low transparent prices for a wide range of high quality products, and save on direct promotions. 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.
The ecosystem will be built in accordance with a scalable and decentralized approach that ensures stability and sustainability in the long term.
The ecosystem will involve the following participants, which will participate as depicted in the next diagram:
— Fulfillment (fulfillment center operators and workers, couriers)
The INS platform is a decentralized marketplace that allows manufacturers to join, publish their products for sale, carry out promotion and loyalty campaigns, and get feedback from consumers. It enables consumers to order those products and facilitates the order fulfillment
INS roles include:
— INS token creation and the token launch to fund development and expansion
— Establishment of a decentralized, fair and secure model for order execution — Development of smart contracts to run the order payment and fulfillment process
— Release of the customer website and app, fulfillment app for fulfillment center workers and couriers, and web interfaces for manufacturers and fulfillment center operators
— Creation of an effective incentive model for all parties to join the INS ecosystem
— Development of an active marketing campaigns to ignite initial traction
— Elaboration of the ecosystem’s regulatory aspects
Blockchain & Smart Contracts
Blockchain is a shared-database technology, mostly popular for underpinning bitcoin digital currency. It works with linked databases that update digital ledgers unceasingly.
The INS platform is designed as a very high-load system. The market potential for the INS ecosystem consists of billions of users, each of them making dozens of orders per year. The main focus is on performance, in which we seek smart contracts support, predictability, stability, and ease of use. We plan to use the most proven and scalable open source technologies and constantly monitor alternative technical implementations.
Blockchain Applications In INS:
— Smart contracts: 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.
— Payments: The payment process in e-commerce 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.
— Supply chain management: E-commerce 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).
APPS & INTERFACES
We plan to develop and publish a website and mobile apps for consumers, as well as mobile apps and web interfaces for all other ecosystem participants.
— CONSUMER APPS & WEBSITE:
Consumers will shop for groceries and provide feedback on the website or in the apps. The official consumer app implements the consumer side of the model including access to smart contracts and access to products from a decentralized cloud storage.
The fulfillment app will provide a smooth order fulfillment process to allow fulfillment center workers and couriers to coordinate with each other, manufacturers and consumers. The fulfillment app will be published on Android Play.
— WEB INTERFACE FOR MANUFACTURERS:
The web interface for manufacturers will run in a web browser without the requirement of local installation and allow to perform all actions, including listing and editing products, performing stock control, setting delivery options and reward policies.
The INS token is a core component of the INS ecosystem and is designed to facilitate all kinds of operations that make the token an integral part of the ecosystem and the driver for its economy. The INS token is fractionally divisible, transferable and fungible.The token balances and transfers will be tracked by INS. In the case of any force majeure, such as large token theft, contract compromise, or a disrupting change of Ethereum protocol, INS may opt to freeze token transfers and issue a new token contract with balances replacing that of the original token registry by certain date. In the case of an Ethereum fork, INS will properly announce which branch it will support.
After the ICO period, all contributors will receive an ERC20 exchangeable INS tokens on the Ethereum network. Whenever the INS blockchain is launched with its own token mechanism, the ERC20 token will be always accepted for exchange to a new token 1-to-1.
INS Token Contract Address: 0x5b2e4a700dfbc560061e957edec8f6eeeb74a320
— Start date: 11:00 AM (GMT) on DECEMBER 4, 2017
— Payment methods: BTC, ETH, LTC, DASH, USD (bank transfer)
— Soft cap: 20,000 ETH
— Hard cap: 60,000 ETH
— Token exchange rate: 1 ETH = 300 INS tokens
— Total token supply (max): 50,000,000
— Min purchase: 0.1 ETH
— The exact number of tokens generated depends on the amount of funds contributed
— No token creation, minting or mining after the end of the ICO period
— Tokens will be transferable once the ICO is completed
— If the soft cap is not reached, funds will be returned to the participants
— Upon reaching the hard cap, the ICO will end immediately
Our roadmap involves many different aspects, such as technology development, operational infrastructure installment, signing partnerships, and launching marketing initiatives. The preliminary roadmap is presented below. Dates and activities may be subject to change.
— Peter Fedchenkov : Founder
— Dmitry Zhulin : Founder
— Dmitry Khovratovich : Blockchain & Smart Contracts
— Prabhakar Reddy : Asia Expansion
— Paul Yakshankin : Technology
— Michael Schmidt : US Expansion
— Fedor Lisitsyn : Manufacturer Relationships
— Frank van der Tol : Europe Expansion
— Maria Lapuk : PR
— Dmitry Gladkov : Legal
For More Informations
Bitcointalk Profile Link: seddy