The government backed company Ambrosus has been able to raise $30 million in their tokes presale campaign. Ambrosus is a Swiss company that functions
The government backed company Ambrosus has been able to raise $30 million in their tokes presale campaign. Ambrosus is a Swiss company that functions as a blockchain IoT platform for the people of Switzerland. The platform is committed to ensuring the transparency levels in the pharmaceutical industry. The announcement was made following their public crowd sale that happened in September. The company hopes to raise $100 before their ICO.
Success in token presales
The platform announced that the presale that is still in progress has thus far raised and surpassed $30 million for the company. This is ahead of the company’s official opening of its Initial Coin Offering. The company has the aim to raise at least $100 million at its official ICO that is set to occur on 13th September. Angel Versetti, the founder and the CEO of the company has regarded the great success of the company’s presale to the great benefits that the Internet of Thing’s system is bound to bring to the people. The IoT will present great benefits to all the members of the global supply chain.
High value in transparency
The CEO says that the early participants in the system have foreseen the value that a platform which asserts the safety, quality and the origins of such lie-essentials can offer them. Ambrosus has strived to ensure the highest levels of transparency and efficiency in the records taken in a supply chain in a blockchain that is publicly accessible. The company has achieved this through the combination of the blockchain technology, the highest quality sensors and smart contracts. The company has done this in light of the recent food scandals that have struck the world such as cheap fish being passed off for expensive fish. There has also been as tussle between the food producers and the human rights propagators. Increasing transparency in the production sector will allow the consumer to make an informed decision when purchasing food.
The CEO also states that the production companies have been hesitant to adopt the systems that are presented by such companies as Ambrosus. This reluctance is what has led to all the food scandals that have terrorized this generation. It goes to show that the issue has a lot more to do with morality than it does practicality. His system gives the consumer a food tracing mechanism. It also connects the consumer with food producers that utilize the same transparency program.
Approved by the U.N
A lot of big organizations have expressed their approval for the efforts of Ambrosus. Key among them is the U.N. This makes Ambrosus the first ever blockchain venture to form alliances with U.N. in addition to this the project has received continued support from the Swiss Quality and Safety Association.
There are other projects that are on the hunt to use the Blockchain technology to gain leverage in the supply chain. One of them is IBM. The smaller scale application of blockchain is seen in the Grass Roots Farmers’ Cooperative. The blockchain is used by a group of livestock farmers to trace the movement of the meat they produce in the blockchain.