Hype rating: 40
Description: Combining high-tech sensors, blockchain protocol and smart contracts, Ambrosus is building the world’s first publicly verifiable, community-driven ecosystem to assure the quality, safety & origins of food.
Start of ICO 22.09.2017 End of ICO 22.10.2017 Hard cap $97,800,000 Raised $32,229,228 (33.0%) Token Sale Price $0.29545 Whitelist / KYC /
|Market cap||Volume (24h)||Circulating Supply||Total supply||Return|
|$8,072,914.00||€7,137,966.00||¥55,764,462.00||$1,510,929.24||€1,335,943.99||¥10,436,894.83||144,590,975.00 AMB||361,477,438.00 AMB||x 0.19|
CEO Angel Versetti was previously founder at Versetti & Co, formerly a VC fund and now a cryptocurrency fund based in Switzerland. CTO Dr. Stefen Mayer was previously involved with food analysis and ultra sound and instrumentation projects. Lead blockchain developer Marek Kirejczyk is an experienced developer and has previous experience on blockchain and Ethereum. The team also has a strong support of advisors and backing institutions, such as Oliver Bussman, formerly CIO at Allianz North America & Mexico, and David Drake, president od LDJ Capital.
- Angel Versetti - CEO
- Dr. Stefan Meyer - CTO
- Dr. Gavin Wood - Technical Advisor (Core Architecture)
- Dr. Jutta Steiner - Technical Advisor (Supply Chains)
- Prof Jean-Paul Sandoz - Lead Engineer
- Marek Kirejczyk - Lead Blockchain Developer
- Matthew Roberts - Lead Blockchain Developer
- Konrad Szalwinski - Lead Frontend Developer
- Katerina Ianishevska - Community Manager
Blockchain application in food safety has major potential and combining it with high-tech hardware sensors seems like a good idea. We believe it can be successful if executed well.
No working prototype. Demo of Ambrosus marketplace is live and can be found at ambrosus-demo.com.
More details can be found on their blog.
Business model relationship and value flow:
The value of tokens is inside the Ambrosus platform and there are no mentions of them being able to do anything else outside their own platform.
Function/utility of the token:
From the white paper:
The native token of Ambrosus, Amber is used to help trace products through their entire value chain, linking the information gathered to the records about the batch. Amber is also the fuel for the Ambrosus ecosystem, used to access the network services, interact with the sensor systems and to enter commercial agreements assured by smart contracts. Our Core Technology Partner for development of the Amber token is Parity Technologies.
Verdict: Could not be done with Ethereum or Bitcoin.
As per the report “Global Food Safety Testing Market, by contaminant tested (Pathogens, GMO, Pesticides), by technology (conventional and unconventional), Industry Trends, Estimation & Forecast, 2016-2024.” The global food safety testing market was valued at $12.14 billion in 2016, and is projected to reach $21.43 billion by 2024, growing at a CAGR of 7.4% from 2017 to 2024. In 2016, the pathogen testing segment generated the highest revenue share in the global food safety testing market. Among major regions, North American food safety testing market was the highest revenue generating market valued at $4.5 billion in 2016. Asia Pacific region is expected to have the fastest growth with a CAGR of 8.3 % over the forecast period. The region generated the revenue of $2.95 Billion in 2016.
GlobeRanger (Fujitsu), Oceasoft, Modum ICO
- 249 commits and 7 branches
BitcoinTalk thread is active. The team is regulary posting updates on Medium blog, Linkedin and Twitter.
Release of Proof of Concept for the core protocol, sensor prototypes, demo of Ethereum blockchain-based decentralised applications and marketplace. Launch of the exchange platform demo.
Token Generation Event
Release of Alpha-version of Supply Chain Management Protocol; Release of Proof-of-Concept for sensing system, edge and central gateways.
Release of Alpha-version of the quality-driven decentralised marketplace for food and commodities. Final architecture and development of customized data center and tailor-made API. Selection and testing of encryption methods.
Release of an Alpha-version of decentralised commodities trading platform; Initiation of 5 R&D programs:
- Removing the human component out of product quality certification processes:
- a) Developing new ways of printing onto food products and consumer goods (smart printing).
- b) Integrating anti-tampering mechanisms into product labels and packaging (smart tagging).
- c) Enabling fully automatized scanning of the product quality parameters.
- Miniaturization of non-invasive systems for on-site automatic assessment of products.
- Deployment of a biosensing platform for evaluation of product safety and allergen detection.
- Expansion of capabilities to combine products with packaging to prevent counterfeiting.
- Development of FDA approved product tracers capable of transforming packaging into smart objects as well as assuring high traceability functionalities from production facilities to end consumer
The purpose and functionality of these technologies is described in the Technical Papers separately. Some of these papers have already been published at https://ambrosus.com/#tech-docs
Opening of a Center of Excellence in Lausanne for quality assessment of goods: analytics, sensing, monitoring, digitalization, tracking, tagging and tracing within supply chains.
Launch of a dedicated Digital Commodity Quality Research Lab for hardware development. Set-up of a Research Node for supply chain management platform to enhance the level of digitalization and automatization in supply chains.
Identifying key stakeholders to interact with:
- International regulators and governmental compliance mechanisms
- Food/pharma producers, restaurants/retailers/pharmacies and test shops
- Anti-counterfeiting task force
- Knowledge building for traceability and proof of origin of environmentally sensitive goods
- Business sustainability assessment
- Trust club to deploy Blockchain broadly andgain consumer trust.
The Hub for Ambrosus operations will complement the Center. Integration of the lab, the platform, the hub and the modules into the broader Lausanne Food Valley perspective. Partnership with local academic and corporate actors: EPFL, EHL, IMD, Applied Universities and corporate R&D centers, partnership under evaluation at this stage.
Launch of large-scale pilot projects with corporate partners from the food manufacturing, pharmaceutical and distribution sector.
Launch of Alpha-version of large-scale decentralised storage solution for supply chain sensors. Manufacturing and testing of the gateways. Validation of the data center and test of data analytic modules.
Launch of a public Beta version of marketplace, exchange platform and product checker software integrated into Ethereum blockchain. Release of a full suite of APIs for legacy sensors and IoT. Launch of developer tools suite. Development of oracelized modules for inter-operability of API with SAP and Gs1 software. Release of first-generation food tracers.
Launch of digital cooperative software for Ambrosus protocol, allowing farmers and food producers to create blockchain-entities for direct sale and pool financial resources.
Launch of matchmaking platform to connect buy/sell agreements to logistics companies executing the orders.
Release of the first generation sensor systems for Ambrosus (sensors, tags and tracers) combined with self-healing (mesh) network functionality. Launch of a catalogue on IoT sensors, analytical devices, non-invasive/on-site stationary and mobile sensing systems, peripherals (smart printers and other systems) inter-operating with Ambrosus technology.
Accreditation of the lab and validation of the sensing systems.
Release of Proof of Concept and prototypes of biosensors and smart packaging with tamper proof solutions having exclusive Ambrosus compatibility.
Launch of corporate solutions and enterprise software solutions. Launch of fully-functional main network with full integration of storage and wallets. Release of framework with multi-chain operability of Ambrosus, allowing it to operate with Bitcoin, Ripple and Hyperledger blockchains. Release of second-generation food tags and tracers. Early incorporation of AI into sensors. Launch of alpha-version biosensors, testing and validation.
Opening of the USA and Asia Hubs for Operations.
Launch of working group on blockchain-based norms & standards for supply chains of food, pharmaceuticals and commodities.
Launch of farmer outreach initiatives with the following financing options: Farmers’ fund; Launch of supporting services for food producers to board marketplace directly.
First review on the Center of Excellence. Re-alignment and future perspective; Organizing audits every 6 months,
Launch of Smart sensor systems having edge computing capabilities — first generation (sensors that retain artificial intelligence capacity without being connected, i.e. making decisions at the edge); integration of sidechains / offchain transactions; Full interoperability with multiple blockchains
Launch of the first Generation of Nanosensors and Biosensors; Smart Packaging; Launch of Amber-compatible hardware solutions.
Release of Ambrosus Protocol 2.0, with updated functionality vis-à-vis artificial intelligence technology and IoT devices.
Release of Second Generation sensors that are fully integrated into smart-packaging; Complete digitalization of products. Validation with Ambrosus Protocol 2.0.
Release of exchange platform with full trading platform functionalities (obtaining the necessary licensing and permissions from authorities), facilitating the launch of a full-fledged decentralised exchange and cryptocurrency trading platform.
Release of the first large-scale fully-automated supply chain solution, governed by Decentralised Autonomous Organisation, sensor systems and artificial intelligence. Full Quality Control and Management of financial and commercial relationships between different parties, including payment settlement mechanisms.
Scaling-Up of the platform, integration in various industries, including Food, Natural Resources and Medical Products. Autonomous, intelligent, self-governing supply chains.
Plans are perfectly defined and can be measured.
Plans for listing: Plan to open their own exchange by 2019
»Release of exchange platform with full trading platform functionalities (obtaining the necessary licensing and permissions from authorities), facilitating the launch of a full-fledged decentralised exchange and cryptocurrency trading platform.«
The above chart outlines our currently anticipated allocation of Amber tokens at the time of the token generating event (“TGE”). Participants in the presale and token sale will cumulatively receive 40% of the total token allocation. The partner development pool will account for 25% of the token allocation. Partners and early investors will receive 16.9% of the token allocation. The team and advisors will receive 16.8% of the token allocation. Finally, 1.3% of the token allocation will be reserved for a bounty campaign and security audits.
Distribution of tokens:
Only 40% of the tokens are available for public sale.
Lock up period: /
As an extra security precaution, every participant of direct presale can request a video-call with one of the core team members of Ambrosus, who can confirm in a video the correctness of the contribution address. That way, in case our website, blog, social media or emails are compromised, we can minimise the damage. Please always request a video link if you are doing a direct presale participation.
3% of the token allocation will be reserved for a bounty campaign and security audits.
Plans for audit:
2018 - Organizing audits every 6 months,