The blockchain technology continues to expand as the demand and value for cryptocurrencies keeps increasing day by day. With the success of various cryptocurrencies such as Ethereum and Bitcoin, the digital market keeps growing owing to its perfectly competitive nature.
The blockchain technology has helped expand the current digital market and has provided a base for several innovative projects. Due to its several advantages, demand for these projects has been at an all-time high.
A more recent participant in the world of blockchain is the INS Ecosystem Limited. It is an online grocery store that will enable customers to buy goods with the help of their digital currency. The aim of the project is to employ blockchain technology to better the online grocery service available to people.
About INS
The INS platform will be the first global decentralized platform grocery marketplace. It will ensure transparency between consumers and manufacturers in terms of prices, information and trading practices. Consumers and manufacturers will be able to interact with each other directly.
The INS platform will provide participants with unique accounts that would allow them access to their wallet and INS tokens. These accounts will enable them to make purchases on the online grocery store, utilize smart contracts and preserve their data.
Manufacturers would be able to publish their products for sale, carry out promotion and loyalty campaigns, and get feedback from consumers. Consumers in return will be able to assess their products options from a variety of selection, avail promotions and offer and interact with manufactures directly in regard to their purchases.
Deliveries will be completed via courier services between manufacture and consumer. INS will seek to attract independent couriers and courier companies to join the ecosystem.
With the help of the blockchain technology and smart contracts, INS will be able to create a strong ecosystem, one that will ensure stability, transparency, and security for all the parties involved.
Aim of the project
The idea behind this project is to do away with the current problems that exist in the market at the moment. Consumers and manufacturers get exploited in several ways and need a viable option that would ensure both their satisfaction.
Retailers are known to abuse their role and to control most part of the process when it comes to producing, supplying, packaging, pricing and promoting the goods. This kind of control has been allowed to thrive due to lack of other options available to consumers and suppliers. With the help of INS, a decentralized ecosystem can be created that will ensure autonomy of all the parties involved.
Through INS, consumers will be able to select the goods that they wish to purchase; instead of having retailers make this decision for them. This transparent system will avoid profit hungry retailers from forcing consumers to buy only certain goods and would even help manufacturers to come in direct contact with customers.
Moreover, ineffective trade promotion practices will also be eradicated. Consumers will be able to enjoy trade promotions that don't usually reach them owing to inefficiencies. With the help of INS, manufacturers will be able to directly reward their consumers with trade promotions and won't have to go through retailers to do so.
Due to lack of options and an inefficient system, grocery retailers get to abuse their role as middlemen. They force consumers to buy expensive goods and manufactures to reduce their prices, all the while maximizing their profits. This leads to unfair practices and hence the need for a more open and centralized platform.
INS will be able to connect manufacturers with interested buyers directly, regardless of their scale and negotiating power.
INS will ensure reduced prices for customers, increased profits for manufacturers, less wastage of products and less distance between manufacture and consumer with the help of their decentralized platform.
The market overview
According to the INS Ecosystem Limited, the grocery market is one of the largest consumer markets in the world and is expected to reach $8.5 trillion by 2020. This just goes to show the scope that currently exists in the market and the growth that INS will get to experience.
Grocery shopping proves to be an inconvenience for people in the 21st century, owing to their hectic schedules and the frequency of purchase. This leads to the whole process being tedious.
This is where online shopping comes in. Online shopping will lead to a better experience and a larger market for manufactures. Moreover, by eradicating the middlemen (retailers), the process becomes convenient and hassle free.
According to the INS's whitepaper, online grocery shopping is expected to grow from $98 billion in 2015 to $290 billion in 2020. They have also gone on to state that the online grocery market increased by 16% in 2016. With the online grocery market being the main target for INS, there appears to be a lot of promise behind this project.
Conclusion
INS Ecosystem Limited is an innovative platform that will help change the current way people grocery shop. It will help manufacturers and consumers by employing a transparent decentralized ecosystem.
INS seems to be a well-equipped project with a dynamic team behind it and several investors already supporting it. They have access to the right technology, means, and knowledge for operating this ambitious project.
They plan to expand their project globally and increase their user interface simultaneously. The targeted countries include London, New York, Tokyo, Paris, Los Angeles, Seoul, Hong Kong and Singapore.
Their token sale went live on the 27th of November with a target of 100,000 ETH. There clearly appears to be a strong demand for such a project and it would definitely prove to be a profitable investment.
For more information visit:
Website: https://ins.world/
Twitter: https://twitter.com/ins_ecosystem
Telegram: https://t.me/ins_ecosystem
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