Ambrosus is a startup aiming to introduce blockchain technology to the food supply industry. Find out everything you need to know about Ambrosus today in our review.
What Is Ambrosus?
Ambrosus describes itself as “the world’s first trusted food ecosystem.” The system involves a combination of high-tech sensors, blockchain technology, and smart contracts to create an immutable record of transactions in the food industry.
The ultimate goal of Ambrosus is to assure the quality, safety, and origins of food. Instead of trusting manufacturers to be truthful about the origins of your food, you can check the Ambrosus blockchain to see exactly where the food came from.
Ambrosus was founded in 2016. The company is based in Switzerland and is supported by the United Nations.
How Does Ambrosus Work?
Ambrosus uses Parity Technologies (Ethcore) to create a verifiable, community-driven system to assure the quality, safety, and origins of food. It’s developed within the Ethereum ecosystem.
A key part of Ambrosus’s ecosystem is the interconnected quality assurance sensors capable of recording the entire history of food from farm to fork. Smart contracts allow the automatic governance of food supply chains while managing commercial relationships among different supply chain actors.
In layman’s terms, the sensors check the food, analyze it, and record that analysis into the blockchain.
Here are some of the crucial components of the Ambrosus platform:
- Supply Chain 2.0: Ambrosus promises to offer intelligent governance of supply chains with full control of processes, quality, and tracing.
- Data Transformation: Ambrosus’s sensors generate valuable data about goods and shipments; that data can be monetized through the Ambrosus ecosystem.
- Direct Deals: Ambrosus has a commodities exchange platform and decentralized marketplace that can introduce new commerce opportunities across the food supply chain.
- Distributed Versatility: Like other blockchain technology companies, Ambrosus is decentralized; as the website explains it, “From nanosensors to supercomputers, all devices interoperate with no central node.”
Benefits Of Ambrosus
Ambrosus aims to offer all of the following benefits:
- Help farmers earn fairer prices
- Enable a more secure supply chain
- Improve food distribution
- Allow consumers to easily see where their food comes from, and what ingredients are in the food
- Facilitate deals between food suppliers through a secure marketplace
Ultimately, Ambrosus is an ambitious project. If successful, the benefits of Ambrosus will be seen throughout all segments of the food supply chain.
Ambrosus advertises all of the following features at the center of its platform:
“Sensor systems” refers to Ambrosus’s combination of sensors, biosensors, and food tracers that monitor an item’s movement across the food supply industry. These sensors assess and monitor the food’s physical attributes and its surroundings in real-time, allowing food suppliers to trace crucial data down to the individual unit. Unique ID, smart tagging, and anti-tampering mechanisms all play key roles in this system.
Ambrosus’s blockchain is designed to be resilient and scalable. It’s built in the Ethereum ecosystem, which is why Ambrosus uses smart contracts. Commercial agreements are encoded as smart contracts. Contracts will self-execute based on quality and safety data generated by sensors. Any disputes are resolved automatically. Other key features of Ambrosus’s blockchain include immediate financial settlement and optional dynamic pricing. Ambrosus has specifically partnered with Parity Technologies for its Ethcore blockchain.
Secure Data Storage
Ambrosus protects data using digital attributes, which are handled in parallel to the food throughout the supply chain. Process readings are recorded on the blockchain in an immutable, decentralized, fully-auditable way to protect from data hacking or manipulation. The data comes from digitized information collected from sensors, including a certificate created after sensors record that data.
Ambrosus offers developer tools and modules to allow community members to build distributed apps, extensions, and protocol upgrades. Developers can also monetize these tools through micropayments. Ambrosus is interoperable with other Ethereum-based protocols, which means integration should be seamless for developers.
The Ambrosus ecosystem revolves around the use of Amber digital tokens. Amber is used to help trace food through its entire path from farm to fork.
Ambrosus has partnered with Parity to release its tokens and ICO. Obviously, the timing is a little awkward, as Parity has been in the news lately for breaches that compromised its crypto wallets. Companies working with Parity lost over $30 million in Ether that was raised through ICOs.
Ambrosus was co-founded in 2016 by Angel Versetti and Dr. Stefan Meyer.
Before co-founding the company, Versetti held roles at the World Resources Forum, Bloomberg, and the UN’s Trade and Investment Division and Department of Technology and Industry. Versetti is the CEO of Ambrosus.
Dr. Meyer, who serves as CTO of the company, brings more than 20 years of R&D experience in food analysis, data encryption, and ultrasound sensors. He has previously worked for Nestle, Vitargent Biotech, and MHM Microtechnique. He was also the founding managing director of the Integrative Food and Nutrition Center at the Swiss Federal Institute of Technology.
The company has already received endorsements by EIT Food and the Swiss Quality and Safety Association. They are also supported by the United Nations, Switzerland’s Crypto Valley Association, the Swiss Federal Institute of Technology, and the government of the Canton of Vaud in Switzerland.
Ambrosus, like many other blockchain startups, is headquartered in Zug, Switzerland. The company also maintains an office in Lausanne.
Ambrosus isn’t the only company that seeks to introduce blockchain technology to the food supply industry. The company aims to change the way we handle food and the ingredients in our food. Using blockchain technology, sensor systems, and digital tokens, Ambrosus will create an immutable record of a food item’s journey throughout the supply chain. The goal is to provide fairer wages to suppliers, more transparency to consumers, and more efficient supply chain management to everyone involved in the food industry.
Ambrosus has a unique distinction from other blockchain companies targeting the food supply industry: they have the backing of several major organizations, including the United Nations and multiple government institutions in Switzerland.
You can learn more about Ambrosus and their food supply blockchain today by visiting Ambrosus.com.