ApplicationNEWS

Ambrosus – A New Blockchain Startup Launching with The Help of Ethereum co-founder

The food industry is warming up to blockchain, thanks to the likes of Ambrosus. The Swiss startup was founded last year, but officially launched yesterday. An Initial Coin Offering (ICO) will begin in September.

According to Ambrosus’ website, the company aims to use cutting-edge technology to improve the food supply chain: “Combining high-tech sensors, blockchain protocol, and smart contracts, we are building the world’s first publicly verifiable, community-driven ecosystem to assure [sic] the quality, safety, and origins of food.”

The idea is to keep track of produce as it moves from farm to fork, with the blockchain ensuring the integrity of the data. Russia’s ITcoin is doing something similar for the nation’s beef products.

Ambrosus is built on the Ethereum blockchain, and Ethereum co-founder Gavin Wood’s Parity Technologies is its core technology partner. Parity’s co-founder Jutta Steiner joins Wood as a technical advisor for Ambrosus.

It’s worth noting that Parity has been in the news itself recently. Just yesterday, the company reported a breach that compromised its crypto wallet, leading to the theft of $30 million in ether. The news threatens to cast a shadow on the supposed security of blockchains.

Despite the bad timing of this Parity news, Ambrosus co-founder Angel Versetti appears optimistic about the potential for his 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 provides a unique and clear opportunity to build a bridge between Ethereum and the food sector.”

 

About author

Writer, Technical Support - EthereumWorldNews | [email protected] - Oliver is an IT certified Support manager filled with years of experience and a package of passion for teamwork, writing and Blockchain technologies as he believes that they will give a new shape to the future. In his spare time he is an artist and musician.
Related posts
Crypto AnalysisNEWS

43 Percent of Millennials Trust Cryptocurrency More than Stock Market

ApplicationExchangesNEWS

Ledger Nano S is Now Supported by the Binance DEX Testnet

NEWSRipple Price Analysis

XRP Price Unfazed by JPMorgan Coin

Bitcoin Price AnalysisNEWS

Tim Draper Predicts Only Criminals Will Use Fiat In Five Years