Whats up everybody WAJAHAT is here with another exciting blog on INS. The INS forum is the only global decentralized online grocery producer to customer forum, enabling customers to purchase directly from producers without the intermediation of retailers. It is powered by a self-regulating community of customers and producers. This smart contracts makes the producers to run loyalty programs and reward their customers in INS tokens. The founders of this forum is Peter FEDCHENKOV and Dmitry ZHULIN. The founders gained a practical experience in the grocery industry. Four years of operating experience in the grocery retail sector helped to identify major drawbacks in the industry’s current construct. This forum goals for an opportunity to interrupt the grocery retail market world widely by developing a decentralized system that directly connects producers and customers. The INS system will become the first global decentralized grocery forum where customers can purchase products directly from producers and get low prices. The producers run for customers and interact with them directly.
The INS platform targets one of the largest customer markets around the globe. The global grocery market will reach $8.5 trillion until 2020. The online sales of groceries products are expected to reach $300 billion until 2020. The INS token will be exploited as a method to give strength to producer to customerloyalty programs. It can be exploited for the payment purposes. The token sale initiated on November 27, 2017. The target is 100,000 ETH and the exchange rate is 1 ETH that is equal to the 300 INS token. The EIP is 20 INS tokens. The purchase methods of INS token includes BTC, ETH, LTC, DASH and bank transfer. The token allocation is comprise of 60% of initial coin offering contributors, 15% of team, 5% Advisors, 5% early supporters, 5% bounty and 20% reserve fund. The tokens sold on initial coin offering comprise of 60% of the total amount. All unsold INS tokens will be burnt and there will be no token creation after initial coin offering. The funds allocation is consist of 30% for research and the development that is $9 million, 23% for infrastructure that is $7 million. 23% for marketing and sales that is $7 million, 13% for operations that is $4 million, 5% for Legal that is $1.5 million and 5% for contingency that is $1.5 million. After the initial coin offering period, all contributors will get an EIP20 exchangeable INS tokens on the Ethereum network. The INS token is a fundamental component of the INS platform that is generated to help all kinds of processes and operations that will make the INS token, a basic part of the forum and the driver for its economy.
The blockchain applications in the INS ecosystem are the smart contracts, payments and supply chain management.The smart contracts strengthen the loyalty programs. This blockchain makes the supply chain more efficient and lower costs. The INS forum will be deployed in the largest cities around the globe with all the necessary infrastructure to enables it operational. The grocery retailer markup producer prices by approximately 30-50%. The customers pay from their pockets for intermediation that they don’t need. The INS forum will help customers to save up to 20-30% on every purchase from the INS forum.
The INS ecosystem will be developed in accordance with a scalable and decentralized approach that develops stability and sustainability in the long term. The INS forum is a decentralized marketplace that enable producers to registered, publish their products for sale, carry out promotion and loyalty campaigns, and get feedback from customers. It makes customers to order those products and help out the order fulfillment process. The INS token creation and the token launch for the development and expansion of funds. The establishment of a fair, decentralized and secure model for the processing of order. The development of smart contracts is to facilitate the payment of order and fulfillment process. The release of the customer website and application, fulfillment of the application for fulfillment center workers and couriers, and website interfaces for the producers and fulfillment center operators. The creation of an effective incentive model for all parties to join this forum. This forum aim to the development of an active marketing campaigns and the elaboration of the system’s regulatory aspects.