Thursday, November 30, 2023

When Blockchain and Sustainability meet: Team 5ire on powering the 5th industrial revolution

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5ire is more than just a blockchain network; it is a fifth-generation blockchain ecosystem. 5ireChain is a blockchain with its own exchange, wallet, NFT/ Metaverse marketplace, and VC fund, as well as its own blockchain. The mission of the 5ire ecosystem, which was founded in August 2021 by Pratik Gauri, Prateek Dwivedi, and Vilma Mattila, is to embed the for-benefit paradigm at the heart of the blockchain by highly incentivizing practises that align with the United Nations Sustainable Development Goals (SDGs), thereby facilitating the transition from the 4th to the 5th Industrial Revolution and accelerating the implementation of the UN 2030 Agenda for Sustainable Development.

In an exclusive conversation with NewsX, Pratik Gauri, Co-Founder & CEO, 5ire said, “The name 5ire basically stands for the fifth industrial revolution so its five ari and that’s how the name comes from. The fifth industrial revolution is the concept that I am promoting since last 15 years to prove the thesis that you can make more money if you do more good to the world so the more good you do the more money you can make. To prove that thesis, I ended up setting eight multi-million dollar businesses in last 15 years all around the world.”

Talking about the goal of 5ire, he added, “The goal of 5ire is to create a billion impact millionaires. It is the world’s first blockchain ecosystem and India’s first layer-one blockchain, which has embedded 17 UN sustainable development goals into the consensus.”

Speaking about sustainability, Prateek Dwivedi, Co-Founder & CMO, 5ire, said “Sustainability has been an issue in the world since a long time. It has been a major issue in the blockchain world as well. Because of the extent of sustainability in the blockchain space, people are buying carbon credits or people are donating to charity, which is fine but we wanted to create something that is more proactive while being good is a very reactive measure. We bring in technology to have proactive measures to tackle sustainability as its core. I believe that we are at this exponential graph at the tipping point where in the future sustainability is going to define profitability.”

Vilma Mattila, Co-Founder & CBO, 5ire, added, “While talking about web3, web one is read, web2 is read and write and web 3 is read, write and own digital assets, engage in a process, which have ownership of your own identity, of your own finances and have private keys for the assets that you own. Therefore, this means the world is moving in a digital identity, which is centralized currently in the governments and data ownerships by enterprises to a more decentralized form where you yourself own the identity you have, on your emails, pictures and all the data you produce as well as the assets you produce that you own. You own them yourself. 5ire chain is participating in web3 since it is all about user-centric systems. 5ire is providing a base layer for users, which is decentralized, trustless, permission-less. In 5ire chain, you can send your email address, funds to your phone number and you are the owner of all those assets. It is peer-to-peer transactions there is no third party involved.”

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