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Pratik Gauri, widely known as the Creator of the 5th Industrial Revolution, has been championing UN SDGs for 10+ years with an overarching goal to impact 1B+ humans by creating multiple businesses to act as a force for good. Gauri met his other co-founders, Prateek Dwivedi and Vilma Mattila, and came up with the idea of 5ire ( pronounced as FIRE ) to create a perfect marriage between blockchain and social impact, to expedite the progress from the 4th Industrial Revolution to the 5th Industrial Revolution. 5ireChain is a blockchain ecosystem that brings sustainability, technology, and innovation to build the 5th industrial revolution. It is a Smart Contract platform that enables SDG-related development, management, and investment. Its 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). 5ire intends to be the leading blockchain ecosystem to solve sustainability issues with its proprietary nPoSbased algorithm – “Proof of 5ire”.
5ireChain’s network acts as a governance structure that democratically empowers DAOs and Working Groups that accelerate the implementation of the UN 2030 Agenda, by incentivizing them economically. 5ireChain’s technology stack offers protocol-level SDG oracles, cross-chain interoperability, Metaverses, WebAssembly and EVM smart contracts, Real-time economy data collection, and telemetry with IoT, AR/VR, smart sensors, and incentivized AI SDG analysis. Pratik Gauri on 5ire’s future vision says, “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 business ethics and collaborations toward sustainability while providing a cross-chain environment, advanced governance, and rewarding mechanisms”.
After the advancements in Blockchains of the 4th generation, there still were notable challenges like Interfacing complex data to provide them across the blockchain, complete back-end control over the system integrity and security, tightly-coupled blockchain, and high scalability based on the sharding. 5ireChain attempts to solve the challenges faced by fourth generation blockchains as the actions on the network are carried out faster, better, and in a sustainable manner. By integrating sustainability at the core of the blockchain, 5ire ensures that the activities aligned with the UN 17 Sustainable Development Goals, either on-chain or in the real world, are highly incentivized. Hence, actions in the 5ireChain adhere to the philosophy of the 5th Industrial Revolution, creating a net positive impact on the planet. One can generate more capital just by helping to make the world a better place.
Pandemic has proven to be a blessing in disguise for them. As they are the world’s first blockchain for social impact, they’ve gained interest from Academia, UHNW folks, impact champions, governments, and social entrepreneurs, to build smart contracts on 5ireChain and secured $2M private sale in 3 days. Now that people realize the importance of health and social impact, 5ire expects it to expedite their progress from the current 4th Industrial Revolution to the 5th Industrial Revolution. In just three months, the team has grown to have 20+ full-time employees spread across the world.