Ambrosus, a blockchain company based in Zug has been launched. The startup is developing, the world’s first publicly verifiable community-driven ecosystem based on a combination high-tech sensors, blockchain protocol and smart contracts. The platform makes it possible to keep track of the origin of the food products.

Ambrosus is a Swiss startup based at the EPFL Innovation Park in Lausanne and Crypto Valley in Zug. Since one year, the startup has been working on a project to develop a decentralised system to track produce over Ethereum protocol. Ethereum is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements.

On Wednesday, Ambrosus was officially launched, and is dedicated to applying technology to improve the food supply chain. The startup is building the world’s first publicly verifiable, community-driven ecosystem to assure the quality, safety, and origins of food through a combination of blockchain protocol, smart contracts and high-tech sensors.

The sensor systems include a combination of robust sensors, biosensors, and food tracers, which are capable of accessing and monitoring real-time data of the food's physical attributes and its surroundings down to the individual unit, coupled with a unique ID, smart tagging and anti-tampering mechanisms. The sensor system development is ongoing at the EPFL Innovation Park with financing from the Swiss authorities.

With their technology, the startup aims to help farmers earn fairer prices, enable a more secure supply chain, improve food distribution and allow consumers to easily see where their food comes from and what it contains.

Ambrosus co-founder Angel Versetti is optimistic about the potential for the company’s technology to push Ethereum into a largely untouched industry. “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,” said Angel Versetti, co-founder of Ambrosus.

In addition to the launch, Ambosus announced its plans to start an ICO. The ICO is expected to begin in September 2017.

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(ran)