Block Chain Can Replace Supermarkets – INC Raises 43 Million to Deal

by StartupWorld Staff         

Supermarkets have been in the market for a long time. There are a lot of supermarkets who have been recognized thoroughly and have become a medium for users to get bulk products at a much less price. A Russian startup company, INS, is looking forward to creating a secure transaction using a platform like a blockchain. The platform is primarily motivated to replace supermarkets and make it easy for the consumer by making him or her purchase directly from the local manufacturer. 

There will be no extra cost for the product which gets added due to the supply chain management. The product, instead of going to the supplier and the retailer, it will straight away go to the consumer from the manufacturer. Also, it will help the buyer to save money from transportation. 

The launch of the project is yet not planned but is likely to start from 2019. The latest Initial Coin Offering has helped the Russian startup to earn around 60000 others whose value is $60 million. 

INS will be implementing the whole strategy in such a way that it would be easy for them to receive orders, process the request, store the product and deliver it to the consumers safely and well packed. The process will help to eliminate supplier, retailer, or wholesalers earning. The platform will make sure that it uses a simple and secure transaction to get the shopping more relaxed and comfortable.

Now let us see how INS will be helping consumers and manufactures with the blockchain idea

The network will help consumers to get cheap or less price on the entire product

The manufacturer has the authority to determine the actual selling price of the product

The blockchain will make it easier for the consumer to get a custom marketing program

The platform will help to get feedback and rating on the product and replace them if required.

INS will make shipping, returns, and transportation cost easier and feasible.

The Russian startup is playing a significant role by making it easier for the consumer to get the highest quality product at a much less price than the original price in the average supermarket. 

Also, it is expected that the blockchain will help manufacturers to level up their revenue by up to 20%. INS has recently stated that they have reached out to more than 500 manufacturers in the market, where most of them have liked the plan and is about to come abroad with them

There are many big companies as well, and Unilever is a part of it.  Usually, any manufacturer company would go with the blockchain if their revenue is to be increased by 15 to 20%. Let us wait and see how long does it take to be implemented and known in the market.


4/5

146 Reviews

Your rate 3 stars is recorded

About Author

StartupWorld Staff

StartupWorld is the destination to learn about new and upcoming startups making waves on the web. Being an entrepreneur is as much hard work as it is fun. No one knows it better than you do. Share your story, send it in and let us showcase it to the world.

Comments ()

Leave a Comment