Groceries on Blockchain
The industry in its current shape is inefficient and controlled by major retailers who determine how food is priced, enjoy an advantage that exceeds the cost difference and set their conditions on suppliers. Current retail systems design is based on reducing stock-outs and keeping food on the shelf. This leads to ineffective delivery schedules and results in food being wasted — up to a third of what is sold in supermarkets.
Groceries is the largest consumer retail market in the world and will grow to 8.5 trillion dollars by 2020, according to Persistent Market Research. Online is catching up but it still does not address the core problem of centralised bargaining power.
Rampant abuses and waste are common, so in the end, customers pay for everything.
Shoppers and suppliers should regulate the industry. A scalable blockchain-based platform allows for a transparent and trustworthy grocery shopping experience at significantly lower prices. It enables direct commination and ways to request feedback.
We at INS are excited to announce the initiative to decentralise grocery shopping experience. The INS ecosystem will adopt blockchain to cut the middleman and improve the online UX. It will help consumers save up to 30% on groceries and get direct rewards from manufacturers.
INS is building a platform for manufacturers of all sizes, from multinational to local. We have signed agreements with some of the largest grocery manufacturers in the world, including Unilever — a leading FMCG company, and multiple local producers.
Led by the founders of Instamart, one of the largest venture-backed online grocery delivery services with over 10 million dollars of VC funding, our 35-strong team has developed a roadmap which covers everything from online to offline. We aim to complete it by the end of Q3 2018.
INS tokens will constitute the means of exchange within our platform. Token buyers can use BTC, ETH, LTC, Dash, USD to complete the purchase.
Please, use the following links to get official updates: