The advantages of blockchain have already been recognized throughout the world, and it is actively being studied by corporations, major banks, and government agencies. Originally, blockchain was associated with finance and IT, but it soon became clear that the technology can improve processes in other industries as well. Grocery retail is one of the economic sectors where blockchain-based solutions could be the most beneficial, according to Peter Fedchenkov, INS Ecosystem cofounder and CEO.
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 received strong interest from some of the largest grocery manufacturers in the world. Select companies who have signed memoranda of understanding with INS include:
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.
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.
|How to Lower Costs and Prices|
Right now, the goods delivery cycle is a long process involving a large number of middlemen. Retailers, transport companies, and regulators stand between the producer and the end consumer. Each step of the way is accompanied by comparisons and signings of numerous documents. First, this significantly slows down the delivery of goods.
Second, documents could be lost or errors could be made in filling them out. Blockchain would allow for a single information system to which all participants in the process would have access. The path of the goods could be tracked or data on their status could be obtained at any time, in just a few seconds. This would save massive amounts of time and money.
Further blockchain development in retail could eliminate unneeded middlemen from the chain entirely, leaving only the producer, the logistics operator, and the buyer. This is the idea at the root of the global project INS Ecosystem, which is being developed by the creators of Instamart, Russia’s largest food delivery service.
The project consists of a decentralized platform that removes retailers from the buying process. The buyer makes an order through the online platform, and the seller fulfills it with the help of a delivery service. The absence of retailers makes it possible to lower prices, decrease marketing costs, avoid excess production, and provide all producers access to the platform. The transparency and reliability of transactions will be ensured by smart contracts.
|Practical use of INS Ecosystem|
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!
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