In Brief Swiss blockchain startup Ambrosus wants to revolutionize the food supply chain by introducing smart contracts to track produce. This new blockchain ecosystem, built on the Ethereum network, was launched on Wednesday.
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.
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