INS ECOSYSTEM — A CONSUMER ECOSYSTEM FOR PRODUCERS AND CONSUMERS
The cryptocurrency is growing quickly, the reason is for all intents and purposes we never again need to carry a bag loaded with cash and it will be extremely risk for us, cryptocurrencies comes in handy with this.Today I’m not only going to introduce a cryptocurrency but a perfect system designed for the purpose of solving a real — time problem.Basically, it is a system designed to solve the economic problem between the manufacturer and a common consumer.It is an ecosystem called INS Ecosystem.It is a platform to connect the producer and consumer directly.Simply it is a decentralized marketplace.
A marketplace is where both buyer and seller meets virtually and trade their goods with money. Retailer is the one who manage this trade.Buyer and seller are not physically involve in direct trading but a mediator will connect them by purchasing from one end and selling to another end by taking some commission which is about 35-40%. There the actual problem arises.INS Ecosystem has built in such a way that it eliminates the retailers by enabling the platform trading between consumer and producer directly.They have their own web services and apps which connects manufacturers with their customers.This is how it works.How is this ?.Brilliant idea and a solution for real - time problem. Right? Okay we will look deep into it.
Well now you’ve begun to understand what is a decentralized marketplace ,, this is the correct platform for you folks please read through the end of the passage for more information. All the information that I provide here is based on what I read and understand from the official site and whitepaper from INS Ecosystem, then I summarize with my way of conveying. I suggest you to read the official whitepaper if you don’t understand what it is.I provided everything below this article.happy reading….
INTRODUCING INS ECOSYSTEM:
Well here I will review what is INSEcosystem as per my insight. INS Ecosystem is an Ethereum-based platform that will enable merchants and customers to communicate with each other efficiently. The INS Ecosystem Protocol encourages secure transactions and fair decisions. INS Ecosystem is the first decentralized marketplace capable of enabling smooth trading between consumers and producers directly.INS Ecosystem uses Ethereum blockchain to power its Ecosystem.The INS Ecosystem platform has a friendly and easy interface for makers and buyers.to help achieve their requirements easily.Makers or producers can list their items and buyers can chose and buy from the products listed on the INS platform.Also manufacturers can get feedback from their customers easily using the INS interface.
This platform is useful to guarantee the credibility of users, INS Ecosystem will turn into an entrepreneurial market offering services, for the most part to grocery industries and often to multiple consumers and the INS Ecosystem platform will authenticate identity of makers and buyers at whatever point it is required. The unique identity of producers and purchasers will be founded on their address in the blockchain, making it hard to forge.
VISION OF INS ECOSYSTEM:
“INS is targeting to replace trade promotions with a more personalized, direct and efficient marketing, thus driving grocery prices down and facilitating the effective direct interaction between manufacturers and consumers.”
HOW DOES INS ECOSYSTEM WORKS:
The platform of the INS Ecosystem I can state is anything but easy to use.Basically INS platform has three main parties involved, Buyer, Seller and Platform( Interface for making transactions and courier service). The manufacturer will place his or her product for sale and then the consumer will have an option to buy the products on his/her wish directly without any commissions paid to the Escrow.Users have various payment methods they can choose from.INS system accepts payments in both Fiat and Crypto currency.They accept crypto currencies like Bitcoin, Ethereum.They also offer rewards if a users pays them with INS tokens.Also transaction fee for INS token payment is 0% which is awesome.If you want to pay using ETH or BTC, you will be charged according to their transaction fee.
PROBLEMS IT CAN SOLVE:
We have several marketplaces where retailers and mediators rule the market and manufacturer and buyer will never meet and have to obey to whatever the retailer charges.This way there is a long gap in communication between the manufacturer and the common consumer. INS Ecosystem aimed at filling this gap.Also we have seen online market places where the retailers like Amazon and Ebay which are not fully decentralized as they will decide the price for an item and not the manufacturer, where these big players are taking almost 50% commission for nothing.INS Ecosystem will solve all these problems by implemeting Ethereum blockchain technology which invvolves smart contracts.
Smart contracts that are possessed by INS Ecosystem can consequently set delivery terms, services and procedures clear and basic the producers and consumers consent to the terms and conditions, after consumer choose and buy a product, the maker will compensated for that product according to the smart contract agreement.
The INS Ecosystem platform has been created as perfectly as possible and it is based on the the Ethereum Smart contracts. Ethereum smart contract will bring safety and security and transparency needed for consumers and producers.
INFORMATION ABOUT TOKENSALE or ICO:
INS Ecosystem is an Ethereum based token which uses ethereum blockchain for transactions.Ethereum tokens are also called ERC20 tokens.At the time of ICO there will be 30 million tokens available out of total 50 million and the remaining tokens will be held by the team for other operations.
INS Ecosystem token sale starts on December 04 and will end on December 25 or when the token distribution is completed.Early contributors will have different stages of bonuses.
For more information, you can refer to the following sources.
Website : https://ins.world/
Whitepaper : https://ins.world/INS-ICO-Whitepaper.pdf
twitter: https /twitter.com/ins_ecosystem
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