The Internet of Things (IoT) is perhaps the most innovative new technological concepts to hit the blockchain. The technology could be applied to several important private and public industries, including food, medicine, and transportation. At its core, IoT concepts use a variety of different hardware products, linking them together using blockchain technology in order to create a comprehensive service for users of a particular industry.
Ambrosus is yet another blockchain startup seeking to use IoT theory to change the face of a particular industry. The company specializes in the supply chain management industry, a function of the financial sector which deals with the process by which products go from manufacturing to individual distribution to consumers. Specifically, the company emphasizes the creation of hardware used to track the items as they are transferred to different entities throughout the process.
The IoT aspect of the Ambrosus model stresses the use of key metrics for tracking, such as rate of movement and temperature of the package, in order to better keep up to the item as it is transferred from the manufacturer, to the distributor, and finally to the customer. Though the IoT infrastructure is still in the works, there has been significant process in the recent year in regards to the Ambrosus network.
The first big launch in the Ambrosus network occurred last month, on July 21st of 2018. Launching in beta version during May, it is rumored that several major companies have been testing the new solution, and continue to do so on the public network. The initial launch came pre-loaded with a variety of different masternodes, which help to facilitate the trade and storage of information on the growing network, including the Apollo nodes, Hermes nodes, and the Atlas nodes.
The network is still being innovated and worked upon, but it already provides companies with the tools necessary in order to use the new blockchain technology in their own product distribution model. As it stands, the launch now enables companies to connect to their network using their own Information Technology (IT) systems, observing and giving feedback on the AMB-NET test version.
The public TEST network for Ambrosus is expected to be up-and-running in September of this year. The community will then be able to give their own feedback on the network, becoming the effective operators on the growing distribution network.
The AMB token will be the currency used to facilitate transactions on the ecosystem for AMB. The database token will be used to store and track information regarding the items that are transferred throughout the complicated blockchain-run distribution process.
After the test network is effectively created and used, the company will begin to merge this network with the pre-existing AMB-NET system, which is currently in its 1.1 version. The network will continue to come out with new versions as the company gains feedback from their clients and customers alike. In the end, the goal will be to create a functional back-end ecosystem and infrastructure used to facilitate the supply chain process.