Swiss Supply Chain Startup AMBROSUS Launches Token Generation Event

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

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Ambrosus, a 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.

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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
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.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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