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."

Headquartered in Zug, Switzerland, Ambrosus is the first blockchain project to become an official partner of the United Nations 10YFP, which is responsible for the implementation of the Sustainable Development Goals. Officially endorsed by EIT Food, Ambrosus has received financial backing from the Government of the Canton of Vaud, Switzerland.

The Ambrosus advisory board consists of globally recognized leaders such as Oliver Bussmann, President of Crypto Valley Association and former Group CIO of UBS and ex-Global CIO of SAP; Jaron Lukasiewicz, former CEO of Coinsetter and Cavirtex bitcoin exchanges; Jehan Chu, founder of the Ethereum Hong Kong Community; David Wachsman, founder and CEO of Wachsman PR; and David Drake, President of LDJ Capital. In addition, Parity will serve as Ambrosus' Core Technology Partner.

The Ambrosus Token Generation Event will take place from September 22 to October 22, 2017, where participants can use ETH and major fiat currencies to participate in the sale. It begins on 22 September 2017 at 14:00 Swiss time.

The Ambrosus Token Generation Event will be capped at 328'103 ETH. Ambrosus previously collected 22,836,104.23 CHF in presale. The Token Generation Event will sell Amber tokens at a rate of 1 ETH = 1000 AMB. Thus, a total of 328,103,000 AMB will be offered for a public crowdsale.

Following a successful security audit of the Ambrosus smart contract by Validity Labs, the Ambrosus TGE is open to all interested participants who complete a strict KYC (Know Your Customer) procedure, which requires proof of identity and proof of residence for the owner of Ethereum wallets. More information at https://tge.ambrosus.com/

Ambrosus will not accept participation from the citizens and residents of North Korea, Sudan, Syria, and the United States.

"Today, global systems of commodity production and distribution do not adequately serve the needs of our society. Ambrosus is driven and supported by a community of individuals who share a vision of transparent, sustainable, and safe supply chains. We believe our continued commitment to drive innovation and change in traditional industries will transform the way we produce, package, and purchase essential goods," concluded Versetti.

For more information, visit http://www.ambrosus.com/

Ambrosus Co-Founders Angel Versetti and Dr Stefan Meyer are available for interview 

About Ambrosus: 

Founded in 2016 by Angel Versetti and Dr Stefan Meyer, Ambrosus is the world's first publicly verifiable and community-driven system to assure the quality, safety, and origins of essential products, such as medicine, food and commodities. Combining high-tech sensors, blockchain technology and smart contracts, Ambrosus brings transparency to the supply chain, aiming to overcome the current deficiencies and challenges of current global food and pharmaceutical markets. Ambrosus features an underlying ERC20-standard token called Amber that will serve to fuel the development of the Ambrosus ecosystem. Built on the Ethereum Blockchain, Ambrosus' Core Technology Partner is Parity Technologies.

For more information, or to see technical papers for Ambrosus sensors, marketplace and non-invasive analytics, visit http://www.ambrosus.com.

SOURCE Ambrosus