INS is the first global decentralized ecosystem that will enable consumers to buy groceries directly from manufacturers conveniently and at lower prices.
INS will facilitate the direct interaction between consumers and manufacturers. Bypassing retailers and wholesalers means a more personalized and transparent grocery shopping experience at lower prices. Сonsumers will be able to decide which brands they want and goods they need.
INS will enable manufacturers to create bespoke marketing programs to promote their goods directly to the consumers. These programs run on smart contracts and powered by the INS token as a means of reward. It is similar to miles-based reward programs of many airlines, but more advanced, cheaper to run and personalized thanks to smart contracts behind them.
INS is built by veterans of the online grocery industry, using the knowledge and experience acquired since 2013. INS founders has a long-standing experience and built one of the leading grocery delivery services in Russia – Instamart (www.instamart.ru). Instamart received more than $10 million funding from the best investors – Mail.ru Group (the leading Internet company in Europe, 7th largest worldwide by page views), Sergey Solonin (Founder and CEO of Qiwi Group (NASDAQ: QIWI), the leading provider of next generation payment services in Europe with $10+ billion turnover), and Ilya Yakubson (Ex-CEO of Dixy (MCX: DIXY), #4 grocery retail chain in Russia).
Peter Fedchenkov, our co-founder and CEO, is a Harvard Business School MBA Alumni and a well-known expert in the grocery industry.
Dmitry Khovratovich, the chief blockchain and smart contract developer at INS, led the crypto security and smart contracts team that previously developed smart contracts for several companies who successfully completed their ICOs.
The list of advisors of our project includes (but isn’t limited by) the following names :
Eyal Hertzog (Co-founder – Bankor);
Michael Terpin (Founder – Transform PR, Chairman – BitAngels);
Moe Levin (CEO – Keynote);
David Wachsman (CEO – Wachsman PR);
Dmitry Filatov (Founder – ICOrating);
Rawi Abdelal (Professor – Harvard Business School);
Prabhakar Reddy (Partner – Accel), and others.
INS received strong interest from some of the largest grocery manufacturers in the world. Select companies who have signed memoranda of understanding with INS include:
* UNILEVER, a Dutch-British transnational consumer goods company with $54 billion in annual sales in 2015 co-headquartered in London, UK. Its products include food, beverages, cleaning agents and personal care products. It is the world’s largest consumer goods company. Unilever is one of the oldest multinational companies; its products are available in around 190 countries.
* MARS, an American global manufacturer of confectionery, pet food, and other food products with $33 billion in annual sales in 2015, and is ranked as the 6th largest privately held company in the United States by Forbes.
* FRIESLANDCAMPINA, a Dutch dairy cooperative whose main brands include Friesche Vlag, Chocomel, Fristi, Dutch Lady, Appelsientje, Milner, Campina, Landliebe, Optimel, Mona and “Mix’it”. It is one of the top 5 dairy companies in the world with annual revenue of €11 billion in 2016. FrieslandCampina has branch offices in 33 countries, employs a total of 22,000 people, and sells products in more than 100 countries.
* VALIO, a Finnish manufacturer of dairy products and one of the largest companies in Finland with more than €2 billion turnover. Valio’s products include cheese, powdered ingredients, butter, yogurt and milk. It is Finland’s largest milk processor, producing 85% of the country’s milk. Valio’s product range currently consists of about 1,000 products. Valio is Finland’s biggest food exporter and sells products to nearly 60 countries.
* RECKITT BENCKISER, a British multinational consumer goods company with $12 billion in annual sales in 2015 headquartered in Slough, UK. It is a producer of health, hygiene and home products. Its brands include Dettol, Strepsils, Veet, Airborne, Air Wick, Calgon, Clearasil, Cillit Bang, Durex, Lysol, Mycil and Vanish. Listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
INS Ecosystem is designed to solve multiple problems and make e-commerce easier, better, more efficient and less expensive for both manufacturers and consumers by :
* Eliminating the retailer’s power abuse factor by completely bypassing wholesalers and retailers, which will result in lower prices for the consumers and lower expenses for manufacturers;
* Reducing supply chain and logistics inefficiencies, allowing more local manufacturers to be more accessible to the consumers;
* Reducing waste in various areas of the supply chain;
* Replacing conventional trade promotions by more personalized , direct and efficient marketing, designed by the manufacturer for their consumers.
Please feel free to study our whitepaper and presentation at www.ins.world, where we describe in more detail all the challenges of the modern grocery market and offer our vision on how to solve them for the benefit of everyone.
INS Ecosystem has no direct analogues and competitors as of now. INS Ecosystem is the first and only decentralized platform that will directly connect grocery manufacturers and consumers. It will eliminate the costly intermediaries – wholesalers and retailers – and pass the saved value to consumers.
We plan to launch in up to 8 large cities with 3+ million population in 2018-2020 as per our roadmap. We’re working hard to develop all the software and business guidelines to make it possible to rollout INS Ecosystem in virtually any city around the world.
When INS Ecosystem is up and running in a city, it works pretty simple. Consumer makes an order via the website or mobile app. The order is processed automatically on the INS platform and supply requests are sent to manufacturers. Manufacturers deliver goods to a smart fulfillment center closest to the consumer’s delivery address. Distribution center staff packs the order and passes it to a crowdsourced courier who delivers the order to a customer’s doorstep. Customer enjoys fresh groceries at lower prices!
We are no better or worse, we are different.
The most successful marketplaces such as Amazon or eBay came to life because they managed to remove middleman entities, that were mostly brick and mortar operations, and replaced them with an automated piece of software accessible over the Internet.
There’s one important aspect to highlight though. The model is often explained as “removing the middleman” without emphasizing that what actually happens is not a complete removal of the broker in the middle, but rather a replacement of the old broker with a new kind of broker. A much better type of broker, built around a software platform, but still a middleman entity between the supply and demand sides. That centralized software architecture is how online marketplaces are able to capture value and is the critical building block of their business model. For almost two decades, nothing seemed to disturb that position. There wasn’t any other technology that could be more efficient than an automated central software to handle the relationship between the supply and demand sides.
However, in the past few years, something interesting started to happen, in a totally different domain. The blockchain architecture allows peer-to-peer transactions to take place in a secure way without the need for any central entities. 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. It’s not a matter of “if” but rather “when” the new decentralized structure will take over as the technology keeps maturing and improving. The peer-to-peer structure is the perfect fit for the decentralized nature of the Internet and has the benefit of handing over the power back to the people participating in the ecosystem.
The ecosystem will be built in accordance with a scalable, decentralized approach that ensures the stability and sustainability in the long term.
Although the idea of connecting manufacturers directly with consumers and shortening grocery supply chain might not be new, it is only with the advent of blockchain and related technologies that it could be practically implemented.
We are developing the INS Platform as a very high-load system. At the moment, we are reviewing several platforms as a possible base for INS: Ethereum Raiden, EOS, Tezos, and Exonum.
The main focus is on performance, in which we seek:
Smart contracts support
Ease of use
The market potential for the INS Ecosystem consists of billions of users, each of them making dozens of orders per year.
INS is a token that powers the INS ecosystem. After the Token Sale period, all contributors will receive an EIP20 exchangeable INS token on the Ethereum network.
The total amount of tokens is proportional to the amount of bitcoins, ethers and other cryptocurrencies contributed during the ICO periods. There will be no token creation, minting or mining after the end of the Token Sale period. Tokens will be transferable once the crowdsale is successfully completed.
INS’s ultimate goal is to create the leading decentralized consumer market used by broad audiences by maintaining a thriving ecosystem of consumers willing to buy everyday products at lower prices and suppliers looking to sell directly and surpass existing retail chains. The main role of INS is to develop the open source technology required for running the decentralized INS Ecosystem and create a successful model to incentivize all participants.
STAGE 1 – INS PLATFORM DEVELOPMENT
The first milestone is the implementation of the decentralized INS platform. The team has always welcomed feedback from the community regarding the specifics of the platform and plans to continually improve it to make the platform fully secure and fair.
After the token sale period, all contributors will receive the EIP20 compatible INS token on the Ethereum network. After launching the INS Platform on own blockchain platform or a blockchain platform that will be chosen from the list of available platforms (Ethereum Raiden, EOS, Tezos, Exonum) in H2 2018, a token native to that platform will be deployed. The EIP20 compatible INS token will be exchanged 1-to-1 with a native INS token.
The main part of the decentralized platform will be implemented as a set of smart contracts carrying out the behaviors described in the INS Platform section of this document.
STAGE 2 – DEVELOPMENT OF APPS AND WEB INTERFACES
While the first milestone concentrates on the backend of the system, the second milestone concentrates on the frontend and end-user experience. INS will release the INS website and a reference implementation of the INS consumer app and INS fulfillment app.
The INS consumer app will be released as open source software on GitHub. The INS fulfillment app will be released on Google Play and other relevant repositories. We will use React and React Native technologies since it will allow to share most of the codebase between web/mobile. The apps will include a thin client based on a standard open source implementation that will allow the apps to communicate with the various smart contracts on the INS platform.
STAGE 3 – GROWING THE ECOSYSTEM – GEOGRAPHICAL EXPANSION PLAN
With the majority of required technology for operating the INS Ecosystem at scale available (platform, customer website and reference implementation app, fulfillment app, and web interfaces for suppliers and distribution center operators), the main focus of INS will shift from development to growth. Investment in network growth will not wait until all development has been finalized and will take place in parallel as soon as viable versions of these products are available for preliminary release.
With the majority of technology for operating the INS Ecosystem available, we plan to rollout to 10 target cities around the globe to accelerate the adoption of INS at the global level.
For 10 cities we plan to lease and operate distribution centers to accelerate adoption of the INS platform by suppliers and consumers.
Further, we will be actively engaging independent distribution center owners to join the INS Ecosystem, accelerating expansion and further enhancing the decentralized nature of the ecosystem.
35 professionals with previous experience in leading technology and retail companies. The founding members of the team have known each other since 2010. We are supported by world-renowned advisors and investors.
The INS team gained a first-hand and practical experience in the grocery industry while developing and growing Instamart, one of the leading grocery delivery companies in Russia. Instamart employs over 200 people, has signed contracts with the largest retailers in the country, and works with the leading grocery manufacturers.
Four years of operating experience in the grocery retail sector helped the Instamart team to identify major inefficiencies and abuses in the industry current construct. The founders see a large opportunity to disrupt the global grocery retail market via establishing a decentralized and fair ecosystem that directly connects manufacturers and consumers.