Review on Ambrosus by Fabrizio Zampieri
The Ambrosus project involves a combination of high-tech sensors, blockchain…
The Ambrosus project involves a combination of high-tech sensors, blockchain technology, and smart contracts to create an immutable record of transactions in the food industry.
The main objective of Ambrosus is to assure the quality, safety, and origins of food; in fact users can check the Ambrosus blockchain to see exactly where the food came from.
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.
The core of Ambrosus’s ecosystem is the interconnected quality assurance sensors capable of recording the entire history of food from farm to users table. Smart contracts allow the automatic governance of food supply chains while managing commercial relationships among different supply chain actors.
The crucial components of the Ambrosus platform are: Supply Chain 2.0 (Ambrosus promises to offer intelligent governance of supply chains with full control of processes, quality, and tracing),
Data Transformatio (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).
The Ambrosus ecosystem uses Amber digital tokens. AMB is used to help trace food through its entire path from farm to user's table.
Ambrosus was co-founded in 2016 by Angel Versetti, CEO (he held roles at the World Resources Forum, Bloomberg, and the UN’s Trade and Investment Division and Department of Technology and Industry), and Dr. Stefan Meyer, CTO (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 is based in Switzerland (Zug region) and is supported by the United Nations.
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
Pros
- The company aims to change the way we handle food and the ingredients in our food. Many benefits along all segments of the food supply chain. - 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. Ambrosus has support from several major organizations, including the United Nations and multiple government institutions in Switzerland.
Cons
- - Ambrosus has partnered with Parity to release its tokens and ICO (we all remember Parity has been in the news lately for breaches that compromised its crypto wallets and companies working with Parity lost over $30 million in Ether that was raised through ICOs). - Ambrosus isn’t the only company that seeks to introduce blockchain technology to the food supply industry.
