Ambrosus, a blockchain-based ecosystem for the food supply chain, has announced its peer-to-peer (P2P) marketplace, which will allow food producers and buyers to enter agreements that not only state the price and quantity, but for the first time, specify food quality using blockchain technology, assured by IoT sensors.

The p2p marketplace enables buyers to browse a range of offers from food producers globally. Run on smart contracts, the buyer would be able to track the food quality and conditions at every stage of production and throughout the transportation process. It also uses can escrow mechanism, wherein payments are instantly reimbursed if the delivered food does not meet the expected quality.

Ambrosus has also introduced the Dynamic Contract Rerouting system in order to prevent food waste. With this system, contracts rejected due to insufficient quality can be cancelled and purchased by another buyer at a lower price. Coupled with reputational points for sellers, the market creates the opportunity for small food producers who consistently receive high points for the quality of their produce to in turn receive higher amounts of money.

“In a transparent, secure, fully digital food supply chain, farmers can easily provide authenticated proof of the quality and origins of their produce. On the Ambrosus Marketplace, farmers whose products are of verifiably better-quality ingredients and stem from sustainable agricultural practices can use our platform to demonstrate the additional value of their produce,” Ambrosus Co-Founder and CTO, Dr Stefan Meyer said. “Furthermore, with instant settlement of payments and instant discovery of problems, lengthy disputes and costly recalls can become a thing of the past.”

Angel Versetti, Ambrosus Co-Founder and CEO, believes the introduction of The Ambrosus Marketplace will “change the dynamic of global food markets” with farmers and food producers “no longer subject to the control of big buyers and downward pressures on the price of their produce.”

“Today’s quality conscious consumers are better informed and often prepared to pay more for high quality food. However, food producers who do follow ethical, healthy techniques have limited means to prove the quality of their products and get those products in the hands of consumers, not to mention the low prices at which they are forced to sell them. This is where The Ambrosus p2p Marketplace steps in, enabling consumers to choose the high-quality food they are searching for, while creating opportunities for food producers to earn reflective revenues for their produce,” added Versetti. “As The Marketplace is entirely open-source, additional versions can be created and adapted anywhere in the world by anyone looking to strengthen local commerce or create transnational marketplaces for quality food.”

Ambrosus has launched a public demo of the p2p marketplace on the Ethereum testnet. It is available for participation, here. Users can create a new market or join an existing market here on the Kovan test network 0x66ca16ee93962df3a912397c3470571fe32268e1.

Ambrosus selected as official partner of the UN 10YFP Sustainable Food Systems (SFS) Programme

Combining high-tech sensors, blockchain technology and smart contracts, Ambrosus was founded to overcome the current deficiencies and challenges of current global food supply chains and markets. It has become the first blockchain project to be selected by the United Nations 10YFP Sustainable Food Systems Programme.

The Programme is responsible for the implementation of the Sustainable Development Goals. Coordinated by the Federal Department of Economic Affairs of Switzerland, the Programme brings together leading initiatives and partnerships, while leveraging resources towards priority activities such as the promotion of sustainability and the reduction of waste in the global food sector.

"We are honoured to be the first blockchain project to be selected as official partner to the United Nations 10YFP Programme. The Sustainable Development Goals is the largest development project in history, and the question of sustainability is one of the most pressing issues for the future of food. Ambrosus is driven by individuals who are dedicated leaders in their field, and this partnership further cements our promise to a safer, sustainable food ecosystem,” Versetti said.

The Ambrosus token sale will take place from September 13, 2017, until October 12, 2017.

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