ICOMarkets

Decentralised Grocery Market Partnership to Protect User Identities

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INS, a decentralized ecosystem for the grocery market, has announced a partnership with identity management service Civic, to securely verify user identities on the INS platform. Aiming to disrupt the $8.5 trillion grocery market industry, INS expects a user base of millions of consumers around the globe.

Co-founder of INS, Peter Fedchenkov said: “Consumer identity protection is at the centre of innovation and has remained a key focus throughout our inception and development. We are delighted to partner with Civic to safeguard the identities of our valued customer base in the future, and this partnership furthers our efforts to offer the most secure and transparent retail ecosystem possible. The Civic team have a peerless reputation when it comes to providing tangible solutions that correspond with the ever-changing threats to personal data online, and INS is unquestionably strengthened by the addition of their phenomenal expertise and systems,”

Founded by the creators of Instamart, the largest venture-backed online grocery delivery operator in Russia, INS connects manufacturers directly with consumers in an effort to eliminate retailer domination and ultimately make groceries more affordable for consumers.

The implementation of Civic’s blockchain-based identity verification technology to the ecosystem will allow both the immutable identification of consumers and instantaneous prevention of fraudulent transactions. The technology provides real-time and multi-factor authentication services without requiring a username, password, third-party authenticator, or physical hardware token.

Vinny Lingham, Co-founder and CEO of Civic, remarked: “As one of the most exciting disruptions the grocery sector has seen, we are proud to play a part in the INS ecosystem. With hacks and fraudulent activity at an all-time high, protection of one’s online identity is of vital importance. We believe this partnership will provide highly technical solutions that respond to the challenges associated with online transactions of today.”

To date, INS has garnered support and formal interest from global manufacturers, including 2 Sisters Storteboom, Aviko, Dubro, Valio, Capebe and Borjomi. In total, INS has seen over one hundred independent suppliers from the UK, Netherlands, Brazil, Italy, Russia, and other countries explore joining the platform on its launch.

Fedchenkov concluded: “With the explosion of online shopping also comes an overhaul of the retail experience, a revolution that offers unprecedented developments in terms of consumer security. In partnership with Civic, we are eager to show that consumers can feel just as safe when they shop on our platform as they do when they use cash to buy groceries at the local supermarket,”

With a target of 60,000 ETH, the INS Ecosystem token sale commenced on the 4th of December, 2017 and will close on the 25th of December, 2017, or once it reaches its target. The funds raised from the token sale will further INS roadmap, with funding allocated for research and development; infrastructure; administration and operations; marketing and sales; and legal and contingency services.

 

Matthew Warner
Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.