INS, the decentralized ecosystem for the grocery market, today announced a partnership with Civic, the leading identity management service, to securely verify user identities on the INS platform.
Aiming to disrupt the $8.5 trillion market grocery industry, INS expects a user base of millions of consumers around the globe.
“Consumer identity protection is at the centre of innovation and has remained a key focus throughout our inception and development,” INS co-founder Peter Fedchenkov said.
“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, a Russian venture-backed online grocery delivery operator, INS connects manufacturers directly with 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 the need for a username, password, third-party authenticator, or physical hardware token.
“As one of the most exciting disruptions the grocery sector has seen, we are proud to play a part in the INS ecosystem,” Civic co-founder and CEO Vinny Lingham said. “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.”
“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,” Mr. Fedchenkov said. “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 Dec. 4 and will close on Dec. 25 or once it reaches the target raise. The funds raised from the token sale will correspond with the INS roadmap, with funding allocated for research and development; infrastructure; administration and operations; marketing and sales; and legal and contingency services.