In an attempt to identify legitimate ICO opportunities in cryptosphere, I recently applied a similar methodology to assess and assess tokens, networks, and ICOs. My goal is to create a lens that I can use to quickly assess ICO and understand if there is a chance and additional due diligence is needed.
As a consultant in corporate software space, I am often challenged to go into the prospect's business or client mid-stream and develop strategic recommendations to drive the business forward. To measure this practice over the years, I have built and adopted a number of different assessment frameworks to achieve a quick initial understanding of a business and to avoid starting from scratch all the time. The results of the assessment framework result in visualizing the current state of the business where I can use to start forming recommendations.
GDAX, an exchange owned by Coinbase, recently released their Digital Asset Framework that outlines the criteria they weigh when considering to list assets in their exchange. I have decided to use this framework as a basis for my assessment methodology because it is designed by industry actors to be more in line with successful network DNA than I do. My approach is to set the scoring algorithm mapped to the framework and keep adjusting over time as the space continues to mature.
Assessment is honest, subjective. I have defined criteria based on the GDAX framework and created criteria with the best of my ability, as much as possible unbiased. However, this score is just my opinion and should not be taken as investment advice.
I was recently asked by a follower to give my thoughts on INS, which I have not heard of, and decided to apply this assessment framework as a pilot run.
According to the INS team, the foodstuff industry has two major problems: abuse by retail traders and ineffective trade promotions. Simply put, market consolidation has caused only a handful of retailers in most modern countries. Some of these retailers choose what can be merchandise and supplies and act not only as an intermediary but also the goalkeeper for your food choices. Ineffective trade promotion is due to a lack or delay in sales information that goes back to the product producers so they can make better decisions. This data is owned by resellers and may not be shared transparently with their partners.
Solution
INS is seen to facilitate consumers directly to the transactions and fulfillment of foodstuffs to solve these two problems. By allowing consumers to buy directly from manufacturers, consumers will save on the supply chain costs accumulated in the value chain and manufacturers will get optics into real-time transaction data to further drive their business decisions. Both will save costs.
Solution
INS is seen to facilitate consumers directly to the transactions and fulfillment of foodstuffs to solve these two problems. By allowing consumers to buy directly from manufacturers, consumers will save on the supply chain costs accumulated in the value chain and manufacturers will get optics into real-time transaction data to further drive their business decisions. Both will save costs.
Team
The founder of INS is a Harvard MBA and has worked at Goldman Sachs and IBM. He and others on the team created Instamart, VC's largest daily shipping company in VC supported in Russia, raising revenues of up to $ 25 million in 2018 with an investment of $ 10 million. Their advisory councils include the founders of Bancor and Wings, two other successful crypto currencies.
External Stakeholder
The INS team and advisory board members are impressive, with ties to venture capital investment in other crypto projects and in the foodstuff industry among others. INS has also signed a partnership intention with Unilever and Mars.
Transparency of pre-ICO development
INS has stated that they will open their source platform, but there is no public repo yet. This makes it difficult to gauge the strength of their engineering team, the extent to which they are under development and how likely they are to achieve the technical milestone they have placed on their white paper. There is no working prototype on any testnet.
EDIT: INS reached out and connected me to their public repos in Github. The Solidity Contract is contained in relation to the ICO and does not contain network logic for INS use cases so I will leave the total score as it is for now.
Future funding model for development
I can not be sure how the team will fund ongoing development other than increasing the implied value of the INS token. Token will have a fixed inventory with about 60% of tokens available for ICO. Funds collected by ICO have been allocated, with approximately $ 16 set aside for R & D and infrastructure.
As per INS responses to follow-up questions, the costs incorporated into the network economy model will fund the ongoing development. This has been reflected in the updated score.
INS charts well on general crypto promises - removing intermediaries in the swell value chain to increase benefits for end buyers and sellers. The INS team is seen to have a strong pedigree with successful, successful projects and experiences in the past. I would feel more comfortable if they've created a public repository platform for review to better understand the talent level of their development team.
for more information :
Website
ANN
Whitepaper
Author: Wandi Crypto
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