Here’s our 148th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with 5IRE 8 NOVEMBER, 2021. This guest star,

• Pratik Gauri — CEO, CO-FOUNDER
• Prateek Dwivedi — CMO,CO-FOUNDER

Introduction

Utkarsh 5ire :
Yes, absolutely. I am Utkarsh, and I head content and social media for 5ire. It feels awesome to be here amongst you all.

Aman :
Myself Aman & I work closely with the 5ire CMO on marketing and 5ire consulting.

QUESTIONS MODERATOR

What’s 5ire? Can you provide a simple description?

Utkarsh 5ire :
5ireChain (www.5ire.org) is a distributed high-performance computing network based on blockchain technology to enable SDG-related measurement, development, management & investment.

(@OfficialFireChain) It is a tier 1 high-performance distributed computing platform with lavish runtime functionalities oriented towards sustainability at the consensus level.

5ire aims to become a blockchain ecosystem for the 5th industrial revolution, where self-sovereign decentralized organizations are empowered & incentivized toward accelerating the implementation of the United Nations 2030 Agenda for Sustainable Development.

Actions in the 5ireChain adhere to the philosophy of 5IR, creating a net positive impact on the planet.

DONE ✅

What triggers you to launch 5ire? What are some of the real-world problems/pain points that 5ire aims to solve?

Aman :
5ire Story begun with with Co-founder Pratik Gauri who has been working in impact sector for several years, making people aware about a for-benefit economy — where profits and benefits co-exist. Prateek Gauri met cofounders Prateek Dwivedi and Vilma Matilla, and after months of research, came up with the idea of 5ireChain — to reach and impact more than 1+ billion people and built the 5th Industrial Revolution.

5ireChain is a blockchain ecosystem that brings sustainability, technology & innovation to build the 5th industrial revolution by ensuring that the activities which are aligned with the UN 17 Sustainable Development Goals either on-chain or in the real world are highly incentivized.

There are various problems the technology still faces despite of the technological advancements.

Like ever-rising climatic conditions and environmental damage

Blockchains & Cryptocurrency not being sustainable.

We want businesses to act as a force for good. Profits & Purpose don’t co-exist.

Our main aim is to work towards empowering more than 1billion+ people to create businesses that act as force for good and help create a more sustainable and greener world.

Could you please give a brief intro of 5ire salient product/features? What solutions are offered?

Utkarsh 5ire :
Things that can be built on 5ire:-

Governance & DAO frameworks for individuals, investment funds & companies.

Custom Blockchain, Smart contracts, IoT, AR/VR, AI solutions for UN SDGs & impact.

Who are 5ire current partners and backers?

Aman :
5ire is backed by very awesome ventures which include:

* Marshland capital
* Alphabit (Techstars crypto Fund)
* Launchpool
* Advisor to Private Office of HH SJM AlMaktoum
* Yield.app
* Fomo lab
* Sky ventures
* Vcommission Global affiliate marketing network
*Skybridge 20 Vetures
*A2DAO
*CSPDAO
*AV Star Capital
* BSC Launch
*DCI Capital
* Millionaire mentor
*Magnus Capital
*MoonBoots capital
*Sanctum
*Oracle Investment Group
* Gains VC
* ZBS Capital :)

They all Have been a great supporter :)

Can you share with us the 5ire roadmap now? What are the next steps to be taken in the future?

Utkarsh 5ire :
With regards to the roadmap, let me paste it here

Q4–2021

* Model and whitepaper research.

* Partnerships with various protocols.

* Token economics & documentation.

* Proof of concept code.

* Public website launch, IDO, infrastructure cluster.

* Proof of 5ire reward distribution mechanism Prototype Establishment.

* TestNet Launch for selected partners.

Q1–2022

* Smart Contract Functionality (WASM Rust-based Ink! & EVM Solidity).

* Development of Oracle Services for Custom sustainability & SDG-related data feeds.

* MainNet launch in Proof of Authority mode.

* 5ire Portal UI for accounts creation, balance transfers, staking, governance and chain status.

* 5ire Wallet.

* 5ire Apps Console.

* MainNet launch in Proof of 5ire mode.

* SDGs Oracles data feeds.

* 5ire Decentralized & Permissionless Naming Services.

* Self-sovereign Decentralized Identity modules.

A lot has been going on so its difficult to choose one moment in particular but we are in the process of acquiring some big companies. We recently acquired coins91, the most Secure and robust platform for customers to invest into cryptocurrencies. We had recently just raised $10m in our private sale as well. Next few months, high focus would be on expanding the tech team, strengthening the 5ire ecosystem infrastructure and building the product.

We also acquired a part of a wallet, you find more news about this soon. So make sure you follow our social media channels.

QUESTIONS TWITTER

I saw the UN’s SGD or Sustainable Development Goals on your website. Can you describe to us 5ire’s correlation with the SGD and how will is it involved?

Aman :
5ire’s mission is to accelerate the implementation of the United Nations 2030 Agenda for Sustainable Development.

5irechain will work on the tokenization of the 17 SDGs and bringing them on-chain for the purpose of making the for-benefit paradigm more promising by taking advantage of the 5irechain transparency and accountability features and the sustainable reward distribution.

5ireChain intends to be the leading blockchain ecosystem to solve sustainability issues with its core technology, “Proof of 5ire”, which integrates sustainability & social impact at the consensus mechanism level by economically rewarding companies for their sustainable practices.

Thereby, leading the 5th Industrial Revolution where bringing sustainability and support for the 17 Sustainable Development Goals (SDGs) is more profitable than acting against this paradigm. Thus achieving and motivating sustainable actions, by design.

All actions at 5ireChain adhere to the 5IR philosophy, creating a net positive impact on the planet. So, explain what the 5IR philosophy is and how it affects the development of your smart chain? Why companies should select their chain and the philosophy on which it is based?

Utkarsh 5ire :
To understand this, first lets understand what 5IR actually is.

The 5th Industrial Revolution (5IR) is where humanism, civility, inclusivity, creativity, and purpose will thrive alongside profit and digitally-enabled progress.

In contrast to trends in the Fourth Industrial Revolution toward dehumanization, technology, and innovation, best practices need to be bent back toward the service of humanity.

As organizations and society look beyond the 4IR, we need to make “conscious choices” to ensure we create a place where profits, purpose, and people can thrive together.

Organizations must remain profitable to fulfill their purpose and invest in growth and their people. For us to move confidently as a collective beyond the 4IR, it is time to integrate purpose and unlock latent human potential by connecting individuals’ purpose and passions to a shared vision, and foster a community of action — and this is where 5ire comes in.

5ireChain, is on a mission to change the world — for the better. It is the first blockchain ecosystem that caters to the never-before solved problem of sustainability, and create a platform to leapfrog from the current Industry 4.0 to Industry 5.0 — where businesses act as a force for good; and profits & benefits co-exist.

Is the 5IRE project a global or a local one? Which market are you currently focusing on, or are you building and expanding to gain customers, users, and partners?

Aman :
We are Definitely Global 🚀

Since the private sale round is almost over, we have aggressively started boosted our marketing efforts, with a lot of focus on more partnerships to help facilitate wider blockchain adoption.

We are rigorously onboarding huge KOLs, and have started spreading the word. To be honest, we have received a staggering support from the community.

Our connections with VCs will help in providing a major boost to the 5ire ecosystem in term of exposure in the local communities and regional support which is a primary part of our mass adoption vision.

According to the website 5ire has another focus on DAO & Governance, the goal of providing tools and solutions for corporations and government entities. Somehow direct them to the “Decentralized” path are you sure that this can be a path for mass adoption?

Utkarsh 5ire :
E-governance solutions will provide better roads to mass adoption in my point of view as they will give access to public sector and governmental levels of DLT and blockchain solutions, thus 5ire focus on building society 5.0 models of the future legacy systems.

#5ireChain be part of the networks that use EVM? or will it be a completely independent network? to be the latter, why be independent? Could it be that these other networks mentioned have some problem in their nucleus that is solved by being independent?

Utkarsh 5ire :
It will a hybrid approach as Smart contract capabilities will be in place. EVM now is a source of bridging with the already existing Crypto Market but is it for the future i think WebAssembly is a better technology, 5ire came to solve the value system of existing reward distribution mechanisms, In Nakamoto Style Proof of Work even though decentralaization claims it doesn’t prevent cartel creations of miners thus centralization, as well in normal PoSs, the cartelization is around stake instead of compuation of PoWs.

QUESTIONS TELEGRAM

Can You tell more about “Proof Of Benefit Inventive Mechanism”?

Utkarsh 5ire :
Hi yogesh, thank you for following all of our AMAs.

At the core of our revolutionary, cutting-edge staking mechanism, the democratic proof-of-benefit scheme exists as the median by which the validators are rewarded based on a score that presents a measurement of the amount of benefit such a validator generates for the planet. Our approach is a must for the world. Thus bringing value and positive impact has never been as rewarding as when on-chain and off-chain activities are done on 5irechain. The rewards are proportional to the commitment of network actors to the 17 Sustainable Development Goals (SDGs). For this reason, we choose to incentivize the validators that empower our sustainable vision highly, for example, a validator that is proven to be helping in achieving quality education or taking urgent action to combat climate change and its impacts is more rewarded than the one who does not. Thus we achieve sustainability by design.

5ire is a newly launched project and in my opinion has a lot of potential. Like these new projects, there is also a lot of competition. So what advantages do 5ire have compared to similar projects above?

Utkarsh 5ire :
5ireChain is the first truly sustainability-driven platform that incentivises enterprises to be more sustainable & innovative, just by making the world a better place. Actions in the 5ireChain adhere to the philosophy of 5IR, creating a net positive impact on the planet.

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

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.

How does 5ireChain ensure sustainable practices are incentived?

Aman :
Nice Question!

Thank You for asking

5irechain will work on bringing the 17 SDGs on-chain by using protocol level oracles and hundreds of ESG-family data sources for the purpose of making the for-benefit paradigm more promising by taking advantage of the 5irechain transparency and accountability features, and of the sustainable reward distribution.

This new mechanism encourage community to have sustainable best practices. By changing the incentive mechanism we are assuring that the community and ecosystem growth is guided by the 5ire vision where actors that adhere with it.

What major partnerships does you project intend to use or how does your project bring its products to the average consumer — especially non-crypto users?

Utkarsh 5ire :
We have aggressively started boosted our marketing efforts, with a lot of focus on more partnerships to help facilitate wider blockchain adoption. We are rigorously onboarding huge KOLs, and have started spreading the word. To be honest, we have received a staggering support from the community.

Our connections with VCs will help in providing a major boost to the 5ire ecosystem in term of exposure in the local communities and regional support which is a primary part of our mass adoption vision. Beyond this, our marketing will be stronger and the human and relationship capital that some of these big VCs bring to the table is exceptional and will help 5ire penetrate the crypto community further. This acquisition aims to fuel the wider adoption of blockchain in developing countries where fiat on ramps are yet to be built. India is a prime market for massive crypto adoption and this acquisition by 5ire aims to fuel the wider adoption of blockchain not only in India, but all other developing nations where fiat on-ramps have yet to be built.

Do you have any 
1. Telegram Group
2. YouTube channel
3. Tiktok Channel
4. Website 
For this project? From where we can learn something? Please share with us link.

Utkarsh 5ire :
Everything in one place, here:-

Official Community — https://t.me/OfficialFireChain
Official TG Announcement Channel — https://t.me/Fire_Announcements
Twitter — https://twitter.com/5ireChain
Medium — https://medium.com/@5ireChain
Reddit — https://www.reddit.com/r/5ireChain
Instagram — https://instagram.com/5ireChain
Discord — https://discord.gg/h5gY4B6mFY

Telegram Chat | Telegram Channel | Twitter | Website | Discord | Medium | Instagram | Reddit

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about 5IRE.

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