The world’s first blockchain-based ecosystem for the food supply chain launched this week, with an eye towards a September token sale.
Ambrosus combines sensors, blockchain technology and smart contracts to reduce inefficiency in the global food supply chain in pursuance of its goal to become the first publicly verifiable and community-driven system to assure the quality, safety, and origins of food.
“At present the global system of food production and distribution does not adequately serve the needs of our society,” cofounder and CEO Angel Versetti said. “With little trust amongst consumers, poor living standards for farmers, malpractice within supply chain networks or by large manufacturers, and regular major food scandals, the entire food supply chain ecosystem is nothing close to the thriving and valuable sector that we envision for all stakeholders.
“With a dynamic ecosystem of complementing technologies developed within and around the Ethereum ecosystem, we have devised a bold rethinking of how the global food supply chains and markets could operate. A system of interconnected quality assurance sensors can reliably record the entire history of food from farm to fork. Blockchain can protect the integrity and verifiability of sensor data. While smart contracts can enable automatic governance of food supply chains and manage commercial relationships between the different actors within them.”
Mr. Versetti and Dr. Stefan Meyer founded Ambrosus in 2016. Earlier in his career Mr. Versetti worked at Bloomberg, the World Resources Forum and at the United Nations, where he served in its Trade and Investment Division and Department of Technology and Industry. He is a regular discussion panelist at Davos, the Vatican, UNESCO and COP21.
Dr. Meyer, Ambrosus’ CTO, has more than two decades of research and development experience at Nestlé, MHM Microtechnique and Vitargent Biotech. He was the founding managing director of the Integrative Food and Nutrition Center at the Swiss Federal Institute of Technology.
Ethereum cofounder Dr. Gavin Wood and former Ethereum security chief Dr. Jutta Steiner have signed on as technical experts, while Parity is the core technology partner.
“Given Ambrosus’ emphasis on the integration of next-generation sensors with smart contracts, Parity’s contribution will help craft new best practices for the global IoT industry,” Mr. Versetti said. “Parity will also provide support as Ambrosus looks to integrate key aspects of blockchain into existing supply chains.”
Additional advisors include:
- Web of Things founder, EVRYTHING cofounder and Swisscom digital lab head Dr. Vlad Trifa;
- Nestlé global research and development programme leader Dr. Fabiola Dionisi;
- University of Leeds professor of food physics and food sensory technology inventor Prof. Malcolm Povey;
- Assistant professor and head of the Swiss Federal Institute of Technology Prof. Esther Amstad;
- Swiss Federal Institute of Technology’s Integrated Systems Laboratory senior scientist Prof. Sandro Carrara.
Ambrosus has been officially endorsed by EIT Food and the Swiss Quality and Safety Association and has the support of the United Nations, EPFL, the Crypto Valley Association, and financial backing from the Government of the Canton of Vaud, Switzerland.
“The combination of the maturity of the technology and the brainpower and creativity of participating actors provides a unique and clear opportunity to build a bridge between Ethereum and the food sector,” Mr. Versetti said. “The funds secured through our crowdsale will fuel the creation of our vibrant, community-driven ecosystem ready to build a better future for the global food markets.”