INS Ecosystem is a new startup that believes Blockchain technology can be leveraged to combat the grocery industry's food waste problem.
The new platform hopes to offer a more streamlined approach to selling surplus consumables directly to shoppers at discounted rates. The software will use Blockchain to "manage transactions and to underpin a token system to fulfill orders, adjust prices and offer rewards." The Blockchain-based software will aid in tracking, monitoring, and distribution of the grocery industry's expansive inventory, offering a connected and digital alternative.
The startup is set to launch later this year, and if all goes as planned, INS Ecosystem could cut the cost of groceries by 30% while also eliminating up to 130 million pounds of food waste annually.
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