Swiss Supply Chain Startup AMBROSUS Launches Token Generation Event

ZUG, Switzerland, September 22, 2017 /PRNewswire/ --

Launch follows successful presale and smart contract security audit from Validity Labs 

Ambrosus, the blockchain-based ecosystem for the supply chain, has announced the launch of its Token Generation Event (TGE), commencing today at 2 P.M. CET and concluding October 22, 2017. Combining high-tech sensors, blockchain technology and smart contracts, Ambrosus was founded to overcome the current deficiencies and challenges of current global supply chains and markets. Ambrosus will issue AMB tokens on the Ethereum blockchain.

Ambrosus CEO and Co-founder Angel Versetti said: "Ambrosus would like to thank its early participants for their support in the project, which I believe represents the future of essential global supply chains. Following the success of the token pre-sale, Ambrosus is delighted to present its highly anticipated AMB token to the broader community."

"Ambrosus aims to become the world's first publicly verifiable and community-driven system to assure the quality, safety, and origins of food, pharmaceuticals and other essential products. Despite rapid technological development in many industries, the world's system of commodity production and distribution has been slow to capitalise on the ground-breaking advancements of our time. Proceeds secured through our TGE will continue to fuel the development of a better ecosystem for global commodity markets," added Versetti.

Token Generation Event proceeds have been earmarked primarily towards research and development on the Ambrosus protocol, API and ecosystem (35%), research and development on Ambrosus sensor systems (25%) and other critical uses which are detailed on the company's website. Within these additional uses, Ambrosus plans to allocate approximately 10% of proceeds towards a food quality research lab.

Ambrosus CTO and Co-founder Dr Stefan Meyer said: "With a dynamic ecosystem of complementing emerging technologies, we have devised a bold rethinking of how the global supply chains and markets can operate. Blockchain can protect the integrity and verifiability of sensor data; while smart contracts can enable automatic governance of supply chains and manage commercial relationships between the different actors within them."