ICO Review: INS
INS Ecosystem - The Grocery Industry, Reinvented
They claim to be the first global decentralized ecosystem directly connecting grocery manufacturers and consumers, and they are probably right!
The Idea:
On the surface, the idea is a great one.
The plan is to connect buyers with grocery manufacturers in an attempt to cut out the retail middle man.
The plan is outlined here:
The customer gets:
- High-quality groceries cheaper than in stores
- Groceries bought online easily and conveniently
- Unlimited access to suppliers of choice
And the manufacture gets:
- Full control of product pricing and listing
- Marketing and promotion directly to consumers
- Fast and detailed customer feedback
This sounds great, but is there really demand for this kind of service?
According to the website there is!
So far, 7 out of the top-20 global FMCG manufacturers and more than 500 manufacturers in total are interested in joining the INS ecosystem.
Some of the names expressing interest thus far:
Just to name a few...
The rest of the names that have shown interest can be found on their website at:
The Team:
The team features members with solid connections and impressive backgrounds.
The team is featured here:
As you can see there is ties to IBM, Goldman Sachs, and Rothschild. Pretty impressive background that you don't often see attached to cryptocurrency projects.
Finally, the Token Sale:
This is where the rubber meets the road for most investors and traders. Depending on how this is set up often determines how profitable an investment can be.
The details are as follows:
The token distribution:
But wait, there's more!
Special air drop for ether holders.
My thoughts:
Overall the idea sounds great. Awesome in fact.
And, we know that there is demand for this type of service as Amazon has recently launched it's own verstion of buying groceries online.
I also like that the team has so much experience with many major corporations. There appears to be major connections behind this project, which is something you don't always see with new ICO projects.
Based on current prices it looks like they are hoping to raise about $22 million or so with 1 INS token valued right around $1.23 currently with ETH trading around $371 and 300 INS being equal to 1 ETH.
Based on the premise behind this project, raising that amount will probably be no problem for them.
If you'd like to learn more, feel free to check out their website at: https://ins.world/
Also, their telegram at: https://t.me/ins_ecosystem
Lots of good information there that should be able to answer any questions you might have.
*Make sure you do your own homework before you buy or sell any cryptocurrencies and make sure you don't base any investment decisions solely based on what you read here.
Stay informed my friends.
Follow me: @jrcornel
This is one of my favorite ICO's of the year and I look forward to seeing this one in action. The grocery marketplace is a fat marketplace that BLockchain could disrupt.
My thoughts as well. It looks like one of the better projects out there.
Do you know you can get paid for your steemit blogs in which you review Cobinhood? https://steemit.com/cobinhood/@starkerz/is-cobinhood-undervalued-get-paid-to-review-oracle-d-first-challenge
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#bitcoinnewbies
There is great introduction to hyperledger course on edx.org platform. In one of the chapters we can find this image - when to use or not to use blockchain technologies decision path.
so as we can see grocery does not need and does not suit to the blockchain.
Great share! I use this decision tree a lot when analyzing coins.
Do you know you can get paid for your steemit blogs in which you review Cobinhood? https://steemit.com/cobinhood/@starkerz/is-cobinhood-undervalued-get-paid-to-review-oracle-d-first-challenge
I like the idea of reducing cost by cutting out the middleman, but in effect we need multiple providers of this type of service for it to be truly decentralised. INS needs to be one of many marketplaces, giving consumers and suppliers the opportunity to sell/purchase quality goods at competitive (instead of rip off) prices. Blockchain smart contracts may be the beginning of the end for overpriced, and often poor services that are currently provided by monopoly organisations.
Thanks for sharing, enjoy the vote!
Nyc Post!! Thnx for Updates!!
Its a massive project, sadly gave it a miss...
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I also think that this service would work. I doubt it will affect the larger grocers, not at first anyway.
This looks great ! I am always on a hunt for the next big one.
I will seriously have to look into this one !