Ambrosus, the world’s first blockchain-based ecosystem for the food supply chain, launched today, announces its forthcoming ICO taking place in September, 2017 with an underlying ERC20-standard token called Amber.
Combination of high-tech sensors, blockchain technology and smart contracts gives Ambrosus a chance to overcome the current shortcomings and challenges of global food supply chains and markets, becoming the world’s first publicly verifiable and community-driven system to assure the quality, safety, and origins of food.
Ambrosus CEO and Co-founder Angel Versetti, a recognized expert and frequent speaker on innovation, technology, and economic development, said: “At present the global system of food production and distribution does not adequately serve the needs of our society. With little trust amongst consumers, poor living standards for farmers, malpractice within supply chain networks or by large manufacturers, and regular major food scandals, the entire food supply chain ecosystem is nothing close to the thriving and valuable sector that we envision for all stakeholders.”
Ambrosus ecosystem is built on the Ethereum Blockchain, and has Parity Technologies as core technology partner with Dr Gavin Wood, the co-founder of Ethereum, and Dr Jutta Steiner, former chief of security for the Ethereum Foundation, working as key advisors on the project.
“With a dynamic ecosystem of complementing technologies developed within and around the Ethereum ecosystem, we have devised a bold rethinking of how the global food supply chains and markets could operate. A system of interconnected quality assurance sensors can reliably record the entire history of food from farm to fork; blockchain can protect the integrity and verifiability of sensor data; while smart contracts can enable automatic governance of food supply chains and manage commercial relationships between the different actors within them,” Versetti added.
“Given Ambrosus’ emphasis on the integration of next-generation sensors with smart contracts, Parity’s contribution will help craft new best practices for the global IoT industry. Parity will also provide support as Ambrosus looks to integrate key aspects of blockchain into existing supply chains,” added Versetti.
“Parity was created to solve the thorniest and most complex problems,” said Dr Gavin Wood, Co-Founder of Parity Technologies. “We are proud to support the Ambrosus project to architect and develop the technology that could improve the lives of many people by ensuring food quality and safety throughout the world.”
Along with Dr Gavin Wood and Dr Jutta Steiner, the Ambrosus’ advisory team has the following “starry” specialists: Dr Vlad Trifa, the Founder of Web of Things, Co-founder of EVRYTHNG; Dr Fabiola Dionisi, Nestlé’s Global R&D Programme; Prof Malcolm Povey, Professor of Food Physics at the University of Leeds, inventor of several key food sensing technologies; Prof Esther Amstad, Tenure Track Assistant Professor and Head of the Soft Materials Laboratory at the Swiss Federal Institute of Technology (EPFL), and Prof Sandro Carrara, the Senior Scientist at the Integrated Systems Laboratory at the Swiss Federal Institute of Technology (EPFL). Ambrosus’ co-founder and CTO is Dr Stefan Meyer, who brings over 20 years of R&D experience in food analysis, ultrasound sensors, and data encryption at Nestlé, MHM Microtechnique and Vitargent Biotech.
Having the official approval of EIT Food and Swiss Quality and Safety Association, Ambrosus gains the support of such significant bodies as United Nations, EPFL, the Crypto Valley Association, and financial backing from the Government of the Canton of Vaud, Switzerland.
Worth noting, that Ambrosus has already had the opportunity to showcase its blockchain solution at the Global Food Conference of the United Nations in Pretoria, South Africa in on 21 June 2017.