Investing in 5ireChain

Saketh
3 min readOct 5, 2021

The latest addition to Skyventures Portfolio is 5ire Chain. Here we would like to share our thoughts about the 5ireChain.

5ireChain is a fifth-generation blockchain that aims to bring a paradigm shift from a for-profit to a for-benefit economy.

5ireChain is a nominated Proof of stake blockchain.

Many industrial activities occur in centralized, isolated frameworks with no room for interoperability. 5irechain empowers Innovation & Sustainability to build the ecosystem of tomorrow while having sustainability.

5ireChain is an Ecosystem that provides governance mechanisms, treasuries, liquid democracy & different voting mechanisms, and ways to form unions and confederations between DAOs.

One of the key aspects of the 5ireChain blockchain is it can be fully upgradable as it was built with Substrate based on WebAssembly.

5irechain takes a different approach to realize scalability. All the network actors and stakeholders can propose and vote on future network upgrades. The future-proofing nature of 5irechain assures a seamless upgrade and change, even for the entire logic and code.

5ireChain is suitable for interoperability and assures it connects to various existing blockchains. The goal is to create sustainability and decentralize communities through sophisticated solutions.

There are various use-cases associated with the 5ireChain ecosystem, such as Governance, sustainability, transparency, reducing corruption, Highest security, removal of inefficient intermediaries.

5ireChain wants to

  • Embed the for-benefit paradigm at the heart of blockchain
    * Highly incentivize practices that align with the UN SDGs
    * Facilitate the transition from 4IR to 5IR.
    * Accelerate the implementation of the UN 2030 Agenda for Sustainable Development.

The Problem

* Ever-rising climatic conditions and environmental damage.
* Blockchains & Cryptocurrency are not sustainable.
* Businesses were not acting as a force for good.
* Blockchain innovation has focused on financial applications.
* Profits & Purpose don't co-exist.

Solution

* First ecosystem to tackle blockchain sustainability at its core.
* Enabling teams to build solutions for a sustainable & decentralized future.
* Aims to become an ecosystem that focuses on positive impact.
* Invites individuals and projects on top of 5ireChain to adopt this vision.

Target Market

* The market size of Blockchain — USD 60 Billion by 2024
* The market size of UN SDGs — USD 2 Trillion by 2030

Competition

With regards to its open-source or corporate competitors, 5ireChain is superior in the following ways:-

* Stronger security guarantee
* Sustainability by design
* First movers in the market
* More Decentralised
* Better Governance & Democracy
* Easier Upgradeability
* Faster Transaction Speed

Team:

Founded by Global Impact Champions & Blockchain Pioneers

Co-founders

1. Pratik Gauri — CEO
2. Prateek Dwivedi — CMO
3. Vilma Mattila — CBO

Fundraise:

VCs such as Sky Ventures, Marshland capital, Techstars Alphabit, Launchpool, Magnus Capital, Moonboots capital, Oracle investments group, Brotherhood, X21 Digital, Titan Ventures, CSP DAO,6K starter, VCommission (India's largest affiliate network ), FOMO LAB, Dreamboat Capital, BSC Launchpad, Crypto Force Gems invested 1 million dollars in 5ire Chain during an early private round.

Socials:

Website:https://5ire.org/

Telegram:https://t.me/FireChainOfficial

Twitter:https://twitter.com/5ireChain

Whitepaper:https://5ire.org/static/media/WhitePaper.87cc84af.pdf

Medium:https://medium.com/@5ireChain

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