INS币（INS Ecosystem）项目白皮书.pdf

THE GROCERY INDUSTRY, REINVENTEDFIRST GLOBAL DECENTRALIZED ECOSYSTEMDIRECTLY CONNECTING GROCERYMANUFACTURERS AND CONSUMERSwww.ins.world One-Pager PresentationVersion 6December 2, 2017DISCLAIMERSTheinationset forthinthisWhitePaper maynot beexhaustiveanddoesnot implyanyelementsof acontractualrelationship. Thecontent of thisWhitePaper isnot bindingforINSEcosystemLimited“INSCompany”or“INS”anditsaffiliatesandINSreserves theright tochange, modify, add, or removeportionsofthisWhitePaperforanyreasonatanytimebefore,duringandafterthesaleof INS tokens by posting the amended White Paper on the website.ThisWhitePaperdoesnotconstituteaninvestment,legal,tax,regulatory,financial,accountingorotheradvice,andthisWhitePaperis not intendedtoprovidethesolebasisfor anyuationof atransactiononacquiringof theINStokens. Prior toacquiringtheINS tokens, aprospectivepurchaser shouldconsult withhis/her ownlegal, investment, tax, accounting, andother advisorstodetermine the potential benefits, burdens, and other consequences of such transaction.NothinginthisWhitePaper shall bedeemedtoconstituteaprospectusof anysortorasolicitationforinvestment,nordoesitinany way pertain to an offering or a solicitation of anoffer tobuyanysecuritiesinanyjurisdiction. Thisdocument isnot composedin accordancewith, andisnotsubjectto,lawsorregulationsofanyjurisdictionwhichprohibitsorinanymannerrestrictstransactionsin respect of, or with use of, digital tokens.The INS token is not a digital currency, security, commodity, or anyother kindof financial instrument andhasnot beenregistered under theSecuritiesAct of 1933, thesecuritieslawsof anystateof theUnitedStatesof Americaor thesecuritieslawsofanyother country, including the securities laws of any jurisdiction in which a potential token holder is a resident.TheINStokensarenot beingofferedor distributedto, aswell ascannotberesoldorotherwisealienatedbytheirholdersto,citizens of, natural andlegal persons, havingtheir habitual residence, locationor their seat of incorporationinthecountryor territorywhere transactionswithdigital tokensareprohibitedor inanymanner restrictedbyapplicablelawsorregulations.Ifsuchrestrictedperson purchasestheINStokens, suchrestrictedpersonhasdonesoonanunlawful, unauthorizedandfraudulent basisandinthisregard shall bear negative consequences.INSneither offersor distributestheINStokensnor carriesonabusinessactivity inanyregulatedactivityinSingapore,inPeople’s Republic of China or in other countriesandterritorieswheretransactionsinrespect of, or withuseof, digital tokensfall under the restrictive regulations or require from INS to be registered or licensed with any applicable governmental authorities.Each purchaser of the INS tokens is reminded that thisWhitePaper hasbeenpresentedtohim/her onthebasisthat he/sheisa personintowhoseattentionthedocument maybelawfullypresentedinaccordancewiththelawsofthepurchaser’sjurisdiction.Itis theresponsibilityof eachpotential purchaser of theINStokenstodetermineif thepurchaser canlegallypurchasetheINStokensin the purchaser’s jurisdiction and whether the purchaser can then resell the INS tokens to another purchaser in any given jurisdiction.Certain statements, estimates and financial ination contained in this White Paper constitute forward-looking statements or ination. Suchforward-lookingstatementsor inationinvolveknownandunknownrisksanduncertaintieswhichmaycause actual eventsor resultstodiffer materiallyfromtheestimatesortheresultsimpliedorexpressedinsuchforward-lookingstatements or ination.TheEnglishlanguageWhitePaperistheprimaryofficialsourceofinationabouttheproject.TheinationcontainedinEnglish language White Paper may fromtime to time be translated into other languages. In the course of such translation someof the inationcontainedintheEnglishlanguageWhitePapermaybelost,corruptedormisrepresented.Theaccuracyofsuchalternative communications cannot be guaranteed. In the event of anyconflictsor inconsistenciesbetweensuchtranslationsandtheofficial English language White Paper, the provisions of the English language original document shall prevail.1CONTENTS1. ABSTRACT 32. INTRODUCTION 62.1. GROCERY MARKET CHALLENGES 62.2. FOUNDERS’ EXPERIENCE 93. MARKET OVERVIEW 113.1. GLOBAL GROCERY MARKET 113.2. ONLINE GROCERY MARKET 134. INS ECOSYSTEM 154.1. OVERVIEW 154.2. ECOSYSTEM PARTICIPANTS 164.3. BLOCKCHAIN SMART CONTRACTS 195. INS PLAT 215.1. KEY COMPONENTS AND PROCESSES 215.2. CONSUMERS’ AND MANUFACTURERS’ INCENTIVES 256. APPS INTERFACES 277. ROADMAP 297.1. DEVELOPMENT ROADMAP 307.2. GEOGRAPHICAL EXPANSION PLAN 328. INS TOKEN 338.1. STRUCTURE 338.2. USAGE 338.3. ADOPTION 349. TOKEN SALE 359.1. SUMMARY 359.2. TOKEN SALE PROCEEDS 379.3. KYC 389.4. ESCROW 389.5. INS PROMO TOKEN INSP AIRDROP 3810. TEAM ADVISORS 4010.1. ADVISORS 4010.2. CORE TEAM 4212. RISK FACTORS 4421. ABSTRACTThis white paper explores global grocery market challenges, a technology paradigm shift offeringtransativepotential, andthebusinessandtechnical aspectsof thesolutionINSis developing for capitalizing on this potential. Highlights of the paper follow belowThegrocerymarket, oneof thelargest consumermarketsintheworld, isforecasttoreach8.5 trillion by 2020. It is reaching a digital tipping point, with much of its growth to come from online. Onlinegrocery, beingthetarget segment for INS, isexpectedtogrowfrom98billionin 2015 to 290 billion in 2020, according to IDG estimates.Despitethetremendousgrowth, thegrocery market hastwolargeinterrelated problems - abuse by grocery retailers and ineffective trade promotions.The grocerymarket dominatedbyretailers. Retail chainscaptureaveryhighshareof grocery revenue and have a huge influence over manufacturers, causing deep impact on consumers worldwide. Retailersdictatewhat foodisgrownandhowit isprocessed, packaged, pricedand promoted. As an example, in the UK, four retailers serve as a slim conduit for 7,000 manufactures to sell their products to 25 million households, which demonstrates howthe 1existenceof retailer abuseinthegroceryindustryhasnotonlybeenallowedtodevelopbutalso thrived.1 Source Consumers International.3Ineffective, costly and outdated trade promotions practice. Trade promotion spending represent 17of manufacturer’ssales. Eachyear, over 50billion ontradepromotionsnever 2 3reachestheconsumer. Unfairnessintoday’spromotion-ladenatmospheregohandinhandwith therisingcostsof promotionsandtheinefficienciestheyproduce.95ofmanufacturersadmit that trade promotions inefficiency is an extremely important issue. 4INSisimplementingadecentralizedecosystemenablingconsumerstosaveup to 30 on everyday shopping buying directly from grocery manufacturers.5Direct interactionbetweenconsumersandmanufacturers.Bypassingretailersandwholesalers 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. We call it “Consumption 2.0” since 21st century customers are tired from a one-way street type of communication, whereby retailers push goods onto themthat maximize retailer’s profit - not what consumers really want. We also want consumers to have unimpeded access to independent and local manufacturers, includingfarmers, that donot fit retailer supplychainor procurement terms and can’t get their goods on retail shelves.Enabling manufacturerstomarket their goodsdirectlytotheconsumers. Nomorecostlyand inefficient trade promotions grabbed by retailers and wholesalers. INS will enable manufacturerstocreatebespokemarketingprogramstorewardtheircustomersdirectly.These programs run on smart contracts and powered by the INS token as a means of reward. It is 2 Source Deloitte, American Marketing Association.3 Source Deloitte. 4 Ibid.5 For smaller manufacturers. 5-15 savings on average are expected.4similar to miles-based reward programs of many airlines, but more advanced, cheaper torun and personalized thanks to smart contracts behindthem. Thiswashardlypossiblebeforethe blockchain and smart contract era.INShastheprerequisitestoperanambitioustaskofdisruptingthegrocery industrybasedonourdeepindustryknowledgeandconfirmedinterestfromthe largest grocery manufacturers in the world.More than 4 years of grocery industry track record. INS is foundedbyveteransof theonline groceryindustry, usingtheknowledgeandexperienceacquiredsince2013.Wehavebuiltstrong relationships manufacturers and gained valuable feedback from consumers.INSreceivedstronginterest frombothlargeandsmall consumer goodsmanufacturersinthe world. Selected logos of manufacturers that expressed interest to sign up on a global or regional basis are provided below.52. INTRODUCTION2.1. GROCERY MARKET CHALLENGES ABUSES OF BUYER POWER BY RETAILERSThe global grocery industryisdominatedbymass-market retail chains. At thenational level in many countries, alargeshareof thegrocerymarket isfrequentlyinthehandsof fewretailers. While some amounts of buyer power areunderstandableandsimplydesirablefor competitive advantage, the high level of concentration causes agrowingimbalanceof buyer power within the supply chain.rting buyer power is natural when not abused. It is understandable that any industry participant wouldseekbigger volumesasatool fornegotiatingbetterprices.Butretailerspush the limits of what is fair. Grocery retailers are perpetually and aggressively extracting better terms fromalready squeezed manufacturers, going far beyond the benefits a player should receive for attaining economies of scale.Large or small, no manufacturer has enough power. Global constituents, such as Procter Gamble, Nestle, and Unilever, do play a role in the industry and have morenegotiatingpower thansmall manufacturers. Still, thesecompaniessimplyarenomatchfortheextensivecontrol retailershaveonend-customersthroughoutthesupplychain.Forexample, Wal-Mart’ssalesare approximately 5 times greater than those of its largest supplier, Procter Gamble. Wal-Mart 6accounted for 16 of Procter Gamble sales in 2016. 7Retailer buyer abuse extends beyond normal pressure. The explanation of this pressure is abuse of buyer power. Such power allows retailers to determine what will and will not be stocked, and on what terms, such as sources, quantity, quality, deliveryschedules, packaging, returns policy, and above all, price and payment conditions. Indeed, a supermarket company wields an important bargaining chip, namely the threat to stop selling one or more products.Evidenceof retail power abuse- TheCompetitionCommissionintheUK, for example, didfind that major retailers enjoy a price advantage that exceeds the cost difference. Additional departures fromproper retail conduct included delaying payments to manufacturers beyond 6 Source MIT Sloan Review, Rebuilding the Relationship Between Manufacturers and Retailers 2013.7 Source Procter Gamble Annual Report 2017.6thetermsinthecontracts;andchangingquantitiesorproduct-qualityspecificationsatlessthan threedays’ notice, andwithout payingcompensationtomanufacturer. Thefigurebelowoffers 8specificevidenceof retail buyer powerabuseandlackofadherencetocodesofconduct, which was covered in various news outlets.Recent evidence of retailer abuse and lack of adherence to codes of conductINS will help grocery manufacturers to bypass retailers and wholesalers and directly sell and promote their products to consumers.8 Source Gordon Mills, Buyer Power of Supermarkets.7SUPPLY CHAIN INEFFICIENCIESHigh distances between manufacture and consumption. The average meal in the US travels about 1,500 miles to get fromfarmtoplate. Thisproblemisrelevant for manycountriesand 9leads to acute financial and ecological consequences with significant adverse impact in the long-term. Foodmiles, thedistancefoodtravelsfromtheplaceithasbeengrowntowhereitis ultimately consumed or purchased, increase significantlywhenbuyersimport foodfromother parts of the country, region or world. 10Wasteinvariousareasofthesupplychain.Indistributioncentersandongrocerystoreshelves,