5ireChain, a fifth-generation blockchain that aims to bring a paradigm shift from a for-profit to a for-benefit economy, has today officially announced the closing of its angel round. 5ire raised $190k in just 28 minutes from prolific angel investors and HNIs.
The funds will aid in strengthening & building technology infrastructure and expanding the team to help 5ireChain to become the world’s first for-benefit blockchain.
Founded by serial impact entrepreneur Pratik Gauri, veteran internet marketer Prateek Dwivedi and a renowned Blockchain VC Vilma Mattila, 5ireChain (www.5ire.org) is a Smart Contract platform that enables SDG-related development, management & investment. 5ire’s mission is to accelerate the implementation of the United Nations’ 2030 Agenda for Sustainable Development and align itself to create a platform to leapfrog from the current 4th Industrial Revolution to a 5th Industrial Revolution (aka Industry 5.0).
The Angel round saw participation from several leading venture funds & renowned angel investors from within the blockchain and cryptocurrency community. The Advisory Board of 5ire Comprehends a diversity of Individuals such as: CEO of Lunarcrush, Aleph Zero Team, Node Kapital, Alphabit Fund, Singularity DAO Team, Kava Labs, leadership at MATIC and Members from Deloitte Blockchain Labs.
“We decided to tackle the problem of sustainability right at its core, rather than the gimmicky charity that other blockchains go for. With our technology, sustainability & SDGs will be embedded in the consensus level of the network thus ensuring democracy & justified fair representation between all participants,” said co-founder and CMO, Prateek Dwivedi.
5ire wants to be the leading blockchain ecosystem to solve sustainability issues with its proprietary nPoS-based algorithm “Proof of 5ire” – 5ire’s primary proposition and its unique consensus mechanism. 5ireChain’s network acts as a governance structure that democratically empowers and incentivizes DAOs & Working Groups that accelerate the implementation of the UN 2030 Agenda.
5ire technology stack offers protocol level SDG oracles, cross-chain interoperability, Metaverses, WebAssembly & EVM smart contracts, Real-time economy data collection & telemetry with IoT, AR/VR, smart sensors and incentivized AI SDG analysis.
Speaking about the project, co-founder and CEO Pratik Gauri stated:
“5ire is on a mission to impact 1billion+ humans positively and prove a theory – You can be abundant if you do more good. We have created a marriage between the blockchain space and impact space.”
“We’ve built 5ireChain to eliminate intermediaries and bring all the impact makers onto a level playing field where they can use the shared language of the UN SDGs. We want businesses to act as a force for good and help move the world from a for-profit paradigm to a for-benefit paradigm, facilitating the transition from 4IR to 5IR”, said Gauri.
Co-founder & CBO Vilma Mattila added, “5ire envisions a future where the ecosystem is restructured as sovereign heterogeneous shards of a global network of connected chains — achieving true horizontal and vertical scalability that single chains can never achieve. It assures openness, unity of purpose, and inclusivity. Thus, shaping the ethics of business and collaborations toward sustainability while providing a cross-chain environment, plus advanced governance & rewarding mechanisms”.
Learn More About 5ire: https://5ire.org/