Ambrosus is an innovative project that seeks to map, understand and authenticate all processes within the food supply chain and the medicine industry through blockchain technology. The complete global supply chain. The project has its own currency, named Amber. Amber owners can use the tokens for payments within the ecosystem. The AMB coins are awarded to products and then the data is added to the blockchain.
The company of Swiss origin launched its project in July 2017. In September of the same year the ICO raised the target amount of 30 million dollars. What the ICO has probably helped to make is the expertise and support of Gavin Wood. Gavin Wood is founder of Parity and co-founder of Ethereum. Wood successfully helped several startups with the launch of their blockchain project.
As said, this blockchain project maps the food and medicine chain. Currently, these processes are still manually monitored and inspected, making them more susceptible to human error, inaccuracies and fraud. By means of blockchain technology the data can be recorded and stored automatically, without being manipulated. Data examples are information about the origin of the food, factory information, storage temperatures and logistical information.
AMB is a token that must be used to access the Ambrosus ecosystem. More specifically, the AMB token is used by three stakeholders: 1) customers who want to use the network to track, monitor and configure their supply chain data. 2) operators who want to run a master node on the network as a means of securing the network and ensure its proper functioning. 3) dApp and app developers who want to link some form of a financially stimulated application or tool to the Ambrosus blockchain, which can then be used by individual consumers or companies.