There have been many stories of cryptocurrency users who reap the benefits of trading this virtual currency. One that appears is the ICO. Initial Coin Offering, aka fundraising with cryptocurrency gave birth to a new business model from traditional to the digital industry trend that has become more widespread lately. Forbes reported that ICO collected more than $ 2 billion so far this year. The calculations have not been added to the Kik app that raised nearly $ 100 million this week through the new Ethereum-based token Kin.
ICO is not just for cryptocurrency veterans anymore. Token sales are rated faster than traditional Virtual Currency fundraising. Plus, they get wider public attention to engage in a project before the official launch, and build new type of customer loyalty. All the money that flows into this digital currency attracts the attention of regulators. Today legally approved business models are popping up all over the world. This will soon lead to the future of ICO where it can be said to be the beginning of something entirely new. One promising project is Ambrosus conceptualizing Trusted Quality of Food & Medicine. Ambrosus Combining high-tech sensors, blockchain protocol and smart contracts, Ambrosus are building a universally verifiable, community-driven ecosystem to assure the quality, safety & origins of products.
The Ambrosus network is a blockchain based ecosystem for supply chains, ensuring the origin, quality, compliance and proper handling of items tracked by the network. Ambrosus’ primary focus is on improving supply chains for life essential products, especially food and medicine, although the protocol can be applied to almost any supply chain.
By using distributed ledgers, data processing and sensor systems, the Ambrosus platform can integrate across supply chain flows and enable transparency at every point within them. These new capabilities allow buyers and other participants in the supply chain to ensure that the standards of their Quality Assurance programs are being met. Ambrosus also enables the transmission of additional information between supply chain counterparties, as well as the creation of new applications and markets that utilize the platform’s realtime data.
Ambrosus uses a novel incentive mechanism called the Amber token to provide these functions in a decentralized manner. The Amber token is used to keep information on the Ambrosus network up to date as products move across the supply chain without requiring a centralized actor to maintain resources. This token enables a transparent ecosystem with trustworthy data that can be freely accessed by interested parties.
- Supply Chain 2.0
intelligent governance of supply chains with full control of processes, quality and tracing
- Data Transformation
sensors generate valuable data about goods and shipments that can be monetised
- Direct Deals
commodities exchange platform and decentralised marketplaces open new paths to commerce
- Distributed Versatility
from nanosensors to supercomputers, all devices interoperate with no central node
The Amber Token
The core of the Ambrosus network is the Amber token, an appropriate ERC-20 token that underlies all transactions on the Ambrosus network.
Amber is the world’s first data-bonded token. It is used to bind continuously updated and verified logistical, environmental and biological data from the supply chain to its corresponding product as it travels between counterparties. It is also used to carry out transfers of value within the ecosystem. As such, the token performs both the utility and transfer of value functions within the ecosystem of applications built on top of Ambrosus protocol.
The Ambrosus protocol is constructed from three main components:
Built around the Measurements Smart Contract, this component manages a distributed dataset for product-specific measurements that is built on top of a programmable blockchain (Ethereum) and distributed file system (IPFS). This smart contract is used to store readings of specified attributes collected for a supply chain. Some of the properties of this smart contract include:
The data source is authenticated and can be cryptographically verified.
The collected data is publicly available to any interested party.
The collected data is secured against changes or deletion.
The system is capable of storing large quantities of small data packages.
- Requirements Smart Contract:
This enshrines the quality requirements to be compared with the content of Measurements Smart Contract. Some of the ways well-defined requirements can be used
Users can verify that the quality of a particular batch of products is fulfilled by pre-defined requirements.
Multi Contract Party Contracts Smart Contracts of the Content in the Smart Contract Requirements. This includes automatic payments settlement on the blockchain.
The data-bonded token architecture intrinsically ties data to AMB transactions on the blockchain, connecting chains together as products move through the supply chain.
Start Date: September 13th 2017 12:00 UTC
End Date: October 22nd 2017 12:00 UTC
Category: Supply & Logistics
Token Symbol: AMB (Amber)
Total Supply: 10,000,000
Platform: Token ERC-20
For more info visit:
Discord : https://discordapp.com/invite/jbmWg8c
Publications (Technical Papers, Use Cases, Vision Paper, etc: https://ambrosus.com/#tech-docs
Bitcointalk link : Pixmartz