Ambrosus Implements Blockchain in Food Industry

Gautham | July 23, 2017 | 7:30 pm
food, bitcoin, Ukrainian Payment Platform WayforPay Enables Bitcoin Payments for Foodies. newsbtc

Ambrosus Implements Blockchain in Food Industry

Gautham | July 23, 2017 | 7:30 pm

Blockchain technology has penetrated various industry segments, and the food industry is no stranger to it. Ambrosus, a blockchain company, is on its way to further revolutionize the food industry by creating a decentralized system to track produce.

Launched last week, Ambrosus is a Swiss startup that has been working on the project for over a year now. The company is building its solution over Ethereum protocol. According to the company, the platform makes use of sensors and smart contracts over blockchain protocol to create a publicly verifiable, community-driven ecosystem to assure the quality, safety and origins of food.

With the technology, Ambrosus makes it possible to keep track of the products starting from the point of origin till it reaches the end customer. Supporting the project is Parity Technologies, a company founded by one of the co-founders of Ethereum, Gavin Wood.

Speaking about the venture on one of the technology publications, the co-founder of Ambrosus, Angel Versetti said,

“The combination of the maturity of the technology and the brainpower and creativity of participating actors provide a unique and clear opportunity to build a bridge between Ethereum and the food sector.”

The sensor systems used by Ambrosus includes a combination of robust sensors, biosensors, and food tracers. These sensors are capable of accessing and monitoring real-time data including physical attributes and its surroundings. These sensors work with unique ID, smart tagging, and anti-tampering mechanisms.

The native tokens on Ambrosus, Amber acts as the fuel. As the platform continues with the development, it has announced its plans to start an ICO. The ICO is expected to begin sometime during the month of September 2017.

This is not the first time blockchain technology is being used to track products throughout the supply chain. Similar systems are being developed for implementation across agriculture products, fisheries, in shipping and logistics sector and more.

Ref: Futurism | Image: NewsBTC
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