NEW YORK, December 4, 2017 /PRNewswire/ --
INS Ecosystem, the decentralized grocery marketplace, has announced the launch of its token sale, commencing today at 11am GMT and concluding December 25, 2017. Aiming to transform the $8.5 trillion USD global grocery market, INS Ecosystem was founded by Peter Fedchenkov and Dmitry Zhulin and is set to pilot in 2018. The platform connects manufacturers directly with consumers with an aim to overcome retailer domination, and in turn, save consumers up to 30%.
INS Founder, Peter Fedchenkov said, "While the nature of the average consumer has completely changed over the last several decades, the grocery industry has yet to capitalize on the emergence of new technologies. Blockchain in particular allows for more transparent pricing, innovative loyalty schemes, and the accurate collection of consumer data, thoroughly improving the consumer and manufacturer retail experience."
Within the INS Ecosystem, all manufacturers will be able to list and sell products directly to consumers, gain customer feedback, and reward loyal customers. Smart contracts will also power loyalty programs, and blockchain technology will make the supply chain more efficient and trim costs. The INS Ecosystem token (INS) serves as a method to power direct manufacturer to consumer loyalty programs and can be used as a means of payment.
To date, INS has garnered strong industry support and formal interest from some of the largest manufacturers globally, including 2 Sisters Storteboom, Reckitt Benckiser, Valio, Capebe, FrieslandCampina, and Borjomi. In total, INS has seen hundreds of independent suppliers from the UK, Netherlands, Brazil, Italy, Russia, and other countries explore joining the platform on its launch.
"The direct-to-consumer movement is on the agenda of consumer packaged goods companies globally. Consumers want control over what they can buy, just as manufacturers want control over how they can sell their products, in turn making a marketplace backed by blockchain the perfect bridge between those two motivations," added Fedchenkov.
The token sale for the INS Ecosystem will close on December 25, 2017, or once it reaches the target raise of 60,000 ETH. Interested parties can use ETH, BTC, LTC, DASH, and bank transfers to participate in the sale. The INS Ecosystem token sale will see INS Ecosystem tokens sold at a rate of 1 ETH = 300 INS. The minimum purchase to enter the token sale is 0.1 ETH.
The funds raised from the token sale will correspond with the INS roadmap, with funding allocated for research and development; infrastructure; administration and operations; marketing and sales; and legal and contingency services.
Specializing in investing in blockchain infrastructure and digital currency, the asset management firm Collinstar Capital strives to support platforms at the forefront of their respective verticals. The 2,000ETH invested in INS by the Australia-based organization brings the platform one step closer to deploying its ecosystem in the largest cities around the world. The Perth-based crypto and blockchain investments fund Blockchain Ventures was also part of the investment round.
"At INS we are eager to support and facilitate the adoption of emerging technologies within the FMCG sector. Our project is certainly an ambitious one, but it is a goal that we wholeheartedly expect to achieve. The widespread support we have received encourages us to keep striving to create the best experience for all parties," concluded Fedchenkov.
INS Founder Peter Fedchenkov is available for interview
INS Ecosystem is a scalable decentralized blockchain-based platform that enables consumers to buy groceries directly from manufacturers at lower prices, with convenience. Aiming to disrupt the $8.5 trillion global grocery market, INS Ecosystem connects manufacturers directly with consumers with an aim to overcome retailer domination. The INS concept is validated by consumer interest and received strong support from manufacturers. INS Ecosystem has received interest from a number of large manufacturers such as 2 Sisters Storteboom, Reckitt Benckiser, Valio, FrieslandCampina, Capebe and Borjomi who are looking at the option of joining the ecosystem in the future.
All manufacturers will be able to list and sell products directly to consumers, gain customer feedback, and reward loyal customers. INS's smart contracts power loyalty programs and their innovative use of blockchain enables an efficient, transparent supply chain. The INS token serves as a method to power direct manufacturer-to-consumer loyalty programs and can be used as a means of payment.
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SOURCE INS Ecosystem