Ambrosus (AMB) is a project that is looking to develop blockchain tracking software for the food an pharmaceutical industry.
There are several popular blockchain projects tackling the issues surrounding supply chain management and for good reason. Supply chain management is one area nearly everyone agrees can benefit from decentralisation, and projects that can properly combine blockchain into the supply chain have seen great investor interest.
In this Ambrosus review I will take an in-depth look into the project by analyzing their technology, development, team and roadmap. I will also take a look at the long term adoption and growth potential of the AMB token.
Ambrosus has targeted the food and pharmaceutical supply chains. They plan on combining high-tech sensors, smart contracts, and blockchain protocols to create a secure supply chain where suppliers and consumers alike can track products to ensure authenticity, origin, proper handling and compliance in all areas.
Ambrosus identified the food and pharma industries as most suitable for blockchain supply chain management, and after focusing on these niches they have been building a name for themselves in the space. There’s a good reason for choosing these industries as estimates claim the pharmaceutical industry loses $46 billion a year in profits due to supply chain issues.
Like many projects, the Ambrosus protocol is based on the Ethereum blockchain. The platform also includes other distributed technologies that allow Ambrosus to transmit information from IoT devices to be recorded on a blockchain.
There are three primary components of the Ambrosus protocol. These are the Measurements Repository, the Requirements Smart Contract, and the Amber Token.
As you might guess in a supply chain management platform, Internet of Things (IoT) devices are integral to the Ambrosus platform. Most of these IoT devices are sensors, tracers, and tags that allow products to be physically monitored as they move through the supply chain. These IoT devices are also crucial for transmitting information about the products to manufacturers and consumers.
Ambrosus is in use already and is proving effective. One such use is in Madagascar Bourbon Vanilla, where the Ambrosus system is being used by vanilla exporters across the region to track and share information (such as proof of origin) with various clients throughout the supply chain.
Ambrosus has also partnered with the Korean company Nongshim Data Systems (NDS) to track and ensure the quality of the beef being sold at MegaMart supermarkets. The solution tracks information from farm to supermarket, including veterinary checks, temperature control, and supply chain data.
In addition to the use cases already being pursued, there are a number of potential use cases identified in the Ambrosus white paper:
Much of the Ambrosus team is located in Switzerland because of the crypto-friendly atmosphere there. The team has been expanding rapidly, even in the current bear market atmosphere of the cryptosphere and as of early 2019, the team has grown to 37 members, with openings for another dozen positions.
The leaders of this driven and dedicated team are:
Ambrosus CEO Angel Versetti claimed during a Reddit AMA the company would be focusing more on their marketing efforts in 2018.
While their social presence still isn’t huge it is growing, with 18,000 Twitter followers and nearly 5,000 followers of the Ambrosus sub-Reddit. It’s also encouraging to see a good deal of activity from that sub-Reddit, with daily posts and multiple comments and responses.
They also continue their blog with updates coming out roughly once a week to keep users updated regarding the developments being made by the project.
The AMB (Amber) token is an ERC-20 compatible token used to perform a utility service for the Ambrosus platform. It binds with the products being tracked on the blockchain and is used to collect and transmit data for the Ambrosus network. It also acts to transfer value within the Ambrosus network.
As currently envisioned, the AMB token has three vital functions:
Ambrosus conducted an ICO from September 22, 2017, to October 22, 2017, raising roughly $32 million. Tokens were sold at $0.30 each and 40% of the roughly 361 million tokens were made available. Unfortunately, the market soon went into bear mode, so after hitting an all-time high of $1.85 on January 6, 2018, the coin has seen its value steadily decline.
More recently (February 2019) it looks as if the AMB token may have found a bottom at the $0.05 level, but it will take time to prove that to be true. As of mid-March 2019, the token is worth $0.062991.
Because it is an ERC-20 token it can be held in any wallet that is compatible with ERC-20 tokens which includes the likes of MetaMask or MyEtherWallet.
AMB tokens are only listed on a handful of exchanges, with the largest trading volume taking place on Binance. There is also a very small amount of trading volume on TOKOK, RightBTC, and KuCoin. While there is healthy volume on Binance, the reliance on a single exchange for over 94% of the volume could present liquidity issues in a crunch.
One of the best ways to see how much work is being done on a particular project is to take a look into their GitHub repositories. This gives an indication how much code is being pushed by the developers publicly.
As such, I decided to take a look into the Ambrosus GitHub to get a sense of how the team was coming on with the code commits. Below are the commits for the two most active repositories on the project.
As you can see, there have been an extensive collection of code commits by the project over the past 12 months. These are more commits than we have seen for many other projects that have recently completed an ICO.
Of course, this could just be a time when the Ambrosus developers are working towards important timelines in their Roadmap. The team has not been able to release an updated roadmap but based on this one from their launch, they should be working towards the following:
Of course, this was a pretty loose time-frame that was based on their initial roadmap. There may be amendments to it as they get closer to the particular dates. If you would like to keep up to date with developments out of the project then you should follow their official blog.
As one of the first projects venturing into supply change management Ambrosus has a distinct advantage over potential competitors. With several small deals already underway they can prove their technology works, but need to get the word out and scale up to larger and more critical projects.
So far they have had small success in the food sector, but need to break into the pharmaceutical industry to realize the best use cases for their project.
It’s still very early in the evolution of blockchain technology, so nothing can be ruled out yet. With AMB tokens trading at such low prices now might be an opportune time to pick some up, or even get enough to run a masternode. These could be very valuable if the Ambrosus technology catches on.
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