Six years ago, no one could have guessed how far cryptocurrency and blockchain technology would come, even as its price seems to be constantly growing. The recent public awareness of Bitcoin, waves, Ethereum and the Blockchain network, in general, has more and more people interested in this new digital phenomenon. Due mainly to much mainstream news covering bitcoin performance, people are now getting a better understanding of the previously secrecy shroud blockchain technology and the whole cryptocurrency world.
The term “INS Ecosystem” simply means a measure by which consumers can go directly to the manufacturer to purchase goods. INS Ecosystem is a decentralized grocery marketplace in which the manufacturers directly transact with the final consumers, and also this measure has created a slot for consumers to enjoy low transparent prices for a wide range of high-quality products.
INS Ecosystem will be the very first global decentralized marketplace. We have the INS Ecosystem Limited also incorporated as the BVI Company, is an official entity which generates INS Tokens, technology, developments and platforms, which main aim is to release an open source of cryptographic technologies that allows operation in the INS Ecosystem.
The fascinating benefit of the INS Ecosystem is the ability to become a participant in the system. Becoming a member of the revolution is as simple as it could ever be imagined.
All that is required is the creation of an account on the INS Platform. Upon registration, a user profile and E-Wallet will be generated and given to each participant i.e. each participant will be provided with a wallet that preserves all data in a decentralized database and interacts with other parties.
Participants of Ecosystem
The participants of the Ecosystem will involve the following set of entities
Platform: The platform itself involves the INS Ecosystem which is a decentralized marketplace which gives manufacturers the opportunity to join, put up their products for sale, and publish their ads and loyalty campaigns, as well as receiving feedback from consumers.
The INS Ecosystem also provides an opportunity for consumers to place an order for their desired products, and also the necessities to be met in order for the order fulfillment process to go smoothly.
Consumers: The consumers are known as the final user of a product, in other words, said as the end user of a product. Consumers are organizations or individuals who are willing and able to buy quality products at a cheaper rate. The INS Ecosystem has provided an opportunity for the Consumers to be able to place their orders through the INS website. The role of the consumers is to Search for the products desired, place orders and make payment, leave feedbacks for the manufacturers etc.
Manufacturers: A manufacturer can be an individual or a company who are dealing with the production of finished products which ranges from domestic products and industrial products. A manufacturer can be a local farmer or large business organizations, such as Coca-Cola etc. The INS Ecosystem platform has created an opportunity for the Manufacturers to display their products for the consumers to see, to deliver products ordered by consumers, making sure orders are fulfilled and as well as to promote the INS Ecosystem through generating traffic via promotions/ads
Fulfillment: Fulfillment deals with the ascertainment of the status of an active order of product. Fulfillments are run through by the fulfillment center operators who will ensure the products are delivered and assembled by the manufacturers. The INS platform will ensure to engage the fulfillment center operators to engage in the ignition of fast geographical expansion to ensure swift delivery of goods.
THE KEY COMPONENTS AND PROCESSES OF INS ECOSYSTEM
Products: Products plays a very vital role on the INS Platform. In the consumer market, the product consists of the basic items with which all actions to be taken on INS will revolve around. And it is very essential to have different search and filter parameters for products on the INS Platform parameters such as the Name, Category, Volume, Amount, Search Tags, and Description etc. which makes each and every product easy to find.
Placing Order: After the products must have been found, the next step to be taken by the consumer is to choose the products to buy, provide the delivery details, and make payments in fiat, BTC, ETH or INS tokens. These process/steps are termed as placing an order. The consumers are entitled to different prices and rewards, considering the method of payment involved.
Product Search: As we all know what a search is, Product search is the fastest and simplest method a consumer can apply when looking for a product to buy. INS Platform has a decentralized file storage network, which is used to maintain accurately and up to date databases records of products published by manufacturers. In the product search section, the consumers can apply sorting and filters to choose what they want to buy.
Manufacturers of a product can choose to distribute different sorting and filters for their product, which will gear each and every published product up for sale whenever it is searched for. This process has just helped the consumers to choose specifically, sorting methods and filters which they can apply whenever they are making use of the product search section. It is a huge task for a consumer to browse through thousands of products just in search for one product which they want to buy, so with the INS product search platform, it has been made easy for them to easily search and find products they are willing and able to buy at a given price.
Rewards: The main role of having a reward option set up for a website is sole to have returning buyers. There are numerous online marketplaces where consumers can get whatever they want, and with this, there will be much more of hard work for sellers to gain and have their buyers back. In the INS Platform selling has been made simpler for sellers and also made easy for buyers in a way that Rewards and discounts which are given out to customers will give them more reason to come back to purchase again. This happens most especially in a grocery market where we have buyer’s returns to the last seller they got from because of a Reward or discount received. INS has the option for manufacturers to apply reward and discount programs suited and tailored to the consumer’s needs.
Loyalty: Loyalty serves as a reward for customers who have been patronizing the manufacturer for a long time i.e. long-time customers. INS Platform has created an option for the manufacturers to easily set up a loyalty program for customers. The payments made by consumers are processed by smart contracts which make it possible to show that a consumer has the right to receive a reward.
It’s the role of the manufacturers to select rules such as the type of reward, expiration date, list of products the reward can be spent on, amount and so on.
Promotion: Promotion comes in when it comes to getting or scheming a means to get more consumers and also as well as to inform the consumers. Promotion reward mechanism is built to incentivize consumers to place their first order. The manufacturers will set the rules which state the expiration date, list of products, customer parameters, etc.
Cross-Marketing: Cross Marketing is a method that can be adopted by the manufactures, to promote their products to new visitors with the sole aim of generating more sales. This has given an opportunity to the manufacturers to find similar manufacturers like theirs, and also manufacturers that create products which are in line with their own product. This mechanism has been incentivized for manufacturers to share app traffic with other manufacturers and also help the consumers discover more of their products.
Referral: INS will create the INS Reserve Fund as the part of the token generation event with the primary goal to use these tokens as referral rewards to new customers and popularize the INS ecosystem.
Feedback: Manufacturers who are interested in the feedback of their customers, is entitled to the opportunity of creating an INS token for the consumers to motivate them to participate in the feedback process. A set of rules and focus group of customers from whom the manufacturers’ wants feedbacks are specified through the feedback reward mechanism. The customer data will not be shared with manufacturers and will initially be processed in a centralized way on the INS platform, but later decentralized as consumers will provide privacy-preserving proofs of eligibility which enable them submitting a feedback without being identified.
Minimum Balance: Manufacturers will be required to hold a balance in INS tokens equal to some portion of previous month sales to guarantee the ability to pay all types of rewards. Manufacturers can either keep tokens received from consumers or buy tokens on exchanges to comply with the requirement.
Rating Score: This is a very important aspect which helps to build trust among counterparties. The manufacturers and the fulfillment service will be eligible to make use of the rating score mechanism, and at the latter end, the consumers will be included. We plan to code the rating smart contracts so that they would count the ratings and accept privacy-preserving proofs of validity from consumers while satisfying the following security requirements such
Transparency: There should be a clear understanding of how the ratings are accrued
Legitimacy: Only the manufacturers and consumers are able to rate
Integrity: the rating shouldn’t be able to be manipulated
Privacy: other personal details and identities of the consumers who rate are not to be disclosed.
Order Status: The order status section will read information and data on the orders placed by consumers. This will show report of:
Manufacturers: the supply request received by them, and if fulfilled
Worker: Order assembled and ready for delivery
Courier: Status of delivery, if picked up and delivered
Consumer: if the order has been received.
For each and every participant of INS Ecosystem, there is a private key attached to every account, which is securely encrypted in the wallet, and also creates and verifies signatures so that all the processes of the order status will go smoothly. Once the statuses are reflected on-chain, this data is available to other participants or various smart contracts in the system.
Note: All the smart contracts carried out are limited to their ability to read data outside the blockchain.
Dispute Resolution: this will be designed in a simple and easy way such that every complaints and dispute can be settled easily without the need of a third party. Maintaining a high rating score will gear up all the INS Ecosystem participants to act in order of Transparency, Integrity, and Truthfulness, which will render the dispute resolution mechanism unnecessary to use. If failed, an INS employee will serve as an arbiter. The disputed result can influence the rating score for both defendant and complainant.
Personal Data Security: personal data and security of INS participants are very important to us. The public nature of all the data in the blockchain system has not given us the opportunity to store naked data so customers such as Names, Addresses, Mobile Numbers, KYC data and other personal documents. All permissions will be made verifiable easily on the blockchain system in order to allow the coming together and the cooperation of different parties in the INS Ecosystem Platform. The actual personal data and information will be stored in a centralized storage, managed and secured by INS. As the decentralization continues, we will store less and less personal data. The secure storage will allow accessing the data without the need for usernames or passwords using the following scheme:
When the data is saved into the storage it will be linked to the public identifier of the entity such as a blockchain address
The party that wants to retrieve the data should confirm their identity by signing the request with the private key that corresponds to their blockchain address
Storage service will get the information about permissions from blockchain, check that the signature is valid and the requester has the right to access the data
If the check is successful, the data will be returned to the requestor and a confirmation record will be made in the blockchain
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