Ethereum Co-Founder Launches New Project: Ambrosus Will Use Blockchain Technology To Ensure Food Safety
Blockchain Technology has the enormous potential to revolutionize the world - and not only in the financial sector.
Most people still associate Blockchain only with cryptocurrencies - but it can do so much more.
Whether that's preventing fraud, validating the ownership of something, or distributing aid: the secure and transparent nature of the Blockchain offers benefits in many different areas.
The swiss startup Ambrosus has just launched their blockchain-based platform to track the food supply system - another great example of the versatile use cases for blockchain technology.
The startup was created last year but only launched 2 days ago.
Ambrosus is co-founded and supported by Gavin Wood, who is also a co-founder of Ethereum.
What is Ambrosus?
Ambrosus aims to ensure the quality and safety of food by tracking the supply chain with a blockchain protocol.
With sensors and smart contracts, they want to verify the origins of food "from farm to fork", ensuring transparency and the highest quality.
The World’s First Trusted Food Ecosystem: Combining high-tech sensors, blockchain protocol and smart contracts, we are building the world’s first publicly verifiable, community-driven ecosystem to assure the quality, safety & origins of food.
At the Ambrosus project we aim to radically improve the global food supply chain by creating a trusted ecosystem where we can reliably record the entire history of food from farm to fork.
We want to help farmers earn fairer prices, enable a more secure supply chain, improve food distribution and allow consumers to easily see where their food comes from and what is really in it.
Ambrosus is supported by Parity - the Ethereum-based technology that has been in the news for all the wrong reasons lately after the latest hacking attack.
But that doesn't stop them! Ambrosus has announced their ICO for September 2017.
How does it work?
Ambrosus uses a specific sensor system to track the food, which is a combination of biosensors, robust sensors and food tracers. These sensors can access and monitor data in real time, including physical attributes and its surroundings.
They also have built-in anti-tampering, smart tagging mechanisms and unique IDs.
Ambrosus uses a protocol based on Ethereum, which encodes commercial agreements as smart contracts.
These contracts will self-execute and any disputes are resolved automatically.
When the sensor data has ben digitized, it is then recorded in a "decentralised, fully-auditable manner" to protect it from fraud or manipulation.
The native tokens on Ambrosus, Amber, is used as the "fuel" for the whole project.
It is used to access the network services and sensor systems and to enter agreements secured by smart contracts.
The amber token has been co-developed by Ambrosus' technology partner Parity.
“The combination of the maturity of the technology and the brainpower and creativity of participating actors provides a unique and clear opportunity to build a bridge between Ethereum and the food sector. The funds secured through our crowdsale will fuel the creation of our vibrant, community-driven ecosystem ready to build a better future for the global food markets."
-Ambrosus CEO and co-founder Angel Versetti
Team and Supporters
The Ambrosus Team consists of some big names in the crypto- and fintech scene.
CEO Angel Versetti was trained at Google and previously worked at Bloomberg, the World Resources forum, and was the youngest project leader and author at the United Nations.
There are also two former Ethereum employees on the Team:
Gavin Wood, co-founder of Ethereum and founder of Parity, and Jutta Steiner, who used to be the Manager for Security Audit at Ethereum.
Supporters include the United Nations, the Swiss Quality and Safety Association, the Crypto Valley Association, and even the Government of the Canton of Vaud in Switzerland.
What's next / How can you invest?
Ambrosus has announced that their ICO will be in September - but no exact dates were named yet.
Until then, you won't be able to invest in their Amber tokens.
The Ambrosus team has just launched their website so for now, they will focus on marketing and promoting their new project to gain the attention of investors for their ICO.
You can stay up to date with Ambrosus through their Slack or Telegram so that you'll be the first to know when their ICO date is announced!