Token Sale: https://tokensale.ins.world/
Have you ever been hangry? You know, where being hungry makes you angry? Well what I’m going to talk about in today’s video, promises to make the world a fappier place… (that’s full and happy)
Any industry that has middle men between the producer of value and the consumer of that value is ripe to be disrupted by a blockchain project.
This time it’s the grocery industry and INS are the disruptors.
INS intends to build the first global, decentralised ecosystem connecting grocery manufacturers directly to consumers.
In the grocery industry you have the people making the food and the people eating the food.
There are currently a few steps in between that serve the purpose of the consumers discovering the food products, buying them and then getting it into their kitchen cupboards.
Every so often we have to look at these systems and ask if one or more components are still necessary, because if we can remove them it reduces the time, cost and complexity.
Another big problem with the way the grocery industry works is that the big retailer control the ‘discovery’ part of the process.
By that I mean if Tesco or Wal-Mart choose not to stock an item, the chances of you discovering it are very slim.
If you never discover a food item, you are never even given the choice to buy it.
A huge amount of power in the food system is centralised at the point where the retailer resides and this is the the main point that INS wish to disrupt.
And the system INS are proposing is projected to save you an average of 30% on your grocery bill by cutting out the middleman and the inefficiencies that exist now.
The INS Token
Let’s get right down to it. What is the INS token for?
As a shopper you’ll receive INS tokens as part of any loyalty programs that a food manufacturer chooses to run.
Because INS are taking away the retailers, who were previously taking care of marketing activity for the manufacturers food products, INS need to somehow replace that, which they are doing with a suite of software based marketing tools.
That means that the INS platform will empower food manufacturers to take charge of their own marketing and develop relationships directly with individual customers.
INS tokens will be the currency used to pay for marketing activity on the platform as well as being one of several currencies you can use to purchase groceries on the platform.
That all bodes well for INS being a utility token rather than a security.
And just by the way, as well as paying for groceries with INS tokens, you’ll also be able to pay with fiat, Bitcoin or Ether, so massive new useage for crypto as a spendable currency coming right up.
And just so we are all clear, it’s the INS token you’ll be buying in the token sale.
Chances Of Success – Conceptually
Conceptually I don’t see any reason why this idea can’t succeed.
The problem they are solving is clear and well established and I believe their application of cryptocurrencies, smart contracts and blockchains is appropriate.
I think that once this ecosystem is established it puts INS in an ideal position to expand the features to include things like food purity certification.
There are other projects working on using blockchain technology to guarantee the origin of foods, to verify that organic food is actually organic etc.
If the INS ecosystem become the dominant grocery platform in the world, it’s then much easier for them to launch features that allow manufacturers to input food purity verification data, which can then been shown to the consumer when they shop.
As a consumer, I personally want to use this system to buy my next lot of groceries so I hope they hurry up and build it.
On that subject, the roadmap currently states the intention is to launch in the 4th quarter of 2018, so approximately 1 year from now.
Chances Of Success – Practically
Manufacturers will want this to happen. If you’ve ever been on the inside of the grocery industry you’ll know about how badly major retailers treat some manufacturers.
From what I have witness in my business career, I’d go so far as to say retailers sometimes downright bully their suppliers in order to fatten their profits.
But even if they weren’t doing that, it wouldn’t save them from the inevitable disintermediation that is the destiny of all middlemen businesses.
INS claim on their website here that 7 out of the top 20 global manufacturers of fast moving consumer goods are interested in joining the INS ecosystem.
That sounds positive but an expression of interest is a long way from officially signing up, which we won’t be able to see until the platform is built.
I’m sure you’ll recognise some of these brands though.
Go to Source
Author: The Cryptoverse
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