All about AMB
What is AMB?
Ambrosus (AMB) is developing a decentralized IoT (Internet of Things) network to ensure the supply of products from the manufacturer to the end consumer, passing through all stages of the exchange of goods. AMB is a blockchain that allows you to track the location and condition of products on the way from their point of production to the final consumer.
The project plans to cover four separate areas: medicine, high-value products, food, and trade exchange. These areas of activity need to arrange supplies more than all others. The reason is the difficulty of transporting food products, for example, fruit.
The same goes for medicines – the supply of counterfeit medicines is fraught with 200,000 deaths annually, according to the World Health Organization. This area needs more control.
For items of high value, such as jewelry, high-value electronics, or aviation parts, their authenticity is controlled with barcodes. Still, they are often damaged and can also be counterfeited. Thus, high-value items need reliable and high-quality transportation and control.
Ambrosus offers a decentralized approach to solving the problem, allowing you to keep track of the commodity circulation among all the participants: suppliers, retailers, distributors, and so on up to the end consumer. This chain can be very impressive in size.
Thanks to smart contracts, the entire delivery process becomes transparent and simple. Blockchain technology is increasingly infiltrating the supply chain, and the Ambrosus project is one of those aimed at mass adoption. The project uses its own tracking technology.
The key aspects of the Ambrosus technology
- Sensor system. The project sensors are the most sensitive on the market. They can track and record the specified parameters during product transportation. If it is food products, the sensor monitors the temperature, the content of certain important elements in the product, whether it is the level of fat or lactose in dairy products. If it is medicines, then the sensor captures the level of sunlight entering the container, the temperature, and other parameters important in the transportation of medicines. In the future, the project creators are going to implement other sensors to track the status of products, which will help to exchange data with such systems as Oracle and SAP.
- The Ambrosus platform is meant to work on the Ethereum blockchain, which ensures the operation of smart contracts and transactions in AMB. This blockchain will not perform as a data library, so the project uses the Merkle Tree technology for this purpose. As the name suggests, the technology distributes information like tree branches, and the correctness of each branch can only be confirmed by examining the tree root.
- The information storage is provided by three levels. The library is the bottom level for a large amount of information. Next, the middle layer stores information from supply chains. And the top level is a separate protocol that controls the transportation of food and medicines that need to meet specific requirements, individual for each particular case.
Based on the Ambrosus platform, one can create decentralized apps that will be sorted for businesses and users for convenient use. App developers will earn a profit if companies use their apps.
The coin started to be traded on exchanges at the end of October 2017. Then its rate was $0.26. At the beginning of January 2018, the price of AMB reached $1.60. After that, there was a correction, and the coin price dropped to $0.01. If you want to know the current value of the AMB cryptocurrency, use the Trade tab on the WhiteBIT cryptocurrency exchange.
Judging by the product tracking technologies Ambrosus offers, it can be said that with the development of decentralized markets, the project can become one of those used among enterprises.
The platform offers a truly convenient and secure system for tracking the transportation of both food and high-value items. It can significantly reduce the supply level of counterfeit medicines and products and improve the supply chain of high-value jewelry and engineering products, allowing you to control the authenticity of products at all levels of commodity circulation.
The project enters into a partnership with Nestle, which also promises the use of the platform in the future.
How to buy AMB?
AMB is available on the WhiteBIT exchange. If you have an account on this platform, you can buy the AMB coin in a couple of clicks.
- Sign in to your account (or create one).
- Select the Trade tab.
- Choose the desired trading pair.
- Place an order to buy the desired currency.
You need to make sure that there are enough funds on your balance to make a purchase.
As soon as your order is executed, the coin will be credited to the balance. Alternatively, you can use the P2P platform from WhiteBIT, which is Bitcoin Global.