OIG AMA with 5ireChain

OIG Group
10 min readOct 20, 2021

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

Saigon 💎 | OIG: We have with us today, a very innovative team that is a fifth-generation blockchain aiming to bring a paradigm shift from a for-profit economy to a for-benefit economy while addressing key issues such as sustainable development! Please help us welcome Aman (Marketing Manager) and Utkarsh(Head of Content/Social Media)!

Welcome gents! Please give us a short bio about yourselves 🙂

Utkarsh 5ire: Hi, honoured to be welcomed by the OIG family. I’m Utkarsh, and I head content and social media for 5ire. Really excited to take part in this AMA and help the OIG community understand a little more about 5ire :)

Aman: Hey Everyone, I’m Aman and I work closely with the 5ire CMO on marketing and 5ire consulting. It’s an honour to be a part of this AMA with OIG Community.

Saigon 💎 | OIG: Awesome!! A pleasure to be hosting you both. Let’s start right from the beginning. What problems did you see that led you to create 5ire? Why is 5ire needed? And what is 5ire’s mission and vision?

Utkarsh 5ire: Okay, I’ll be happy to do that.

5ire Story began with Co-founder Pratik Gauri who has been working in the impact sector for several years, making people aware of the for-benefit economy — where profits and benefits co-exist.

One of the major aims was tackling the ever-rising climatic conditions and environmental damage, now more important than ever.

We wanted businesses to act as a force for good.

Also, we wanted to address the core problem, Blockchains & Cryptocurrency itself not being sustainable, since Blockchain innovation has majorly focused on financial applications.

So, Pratik 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 build 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. Hence, actions in the 5ireChain adhere to the philosophy of 5th Industrial Revolution, creating a net positive impact on the planet.

Aman: We want to work towards empowering more than 1billion+ people to create businesses that act as a force for good and help create a more sustainable and greener world.

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

Saigon 💎 | OIG: Awesome backstory guys, one of the biggest things that resonated with us when we met your team was the desire to create a permanent lasting change through this project.

This vision and mission are impressive and revolutionary. In order to bring this to fruition you will need a phenomenal team in all areas, with that all in mind can you give us an insight into the qualifications and experiences of the team and why you are confident you can deliver?

Utkarsh 5ire: Thats a great question. Our team has actually been exceptional, without all of them, we wouldn’t be here.

Aman: You already might know the co-founders.

Pratik Gauri (Co-founder & CEO) is s Serial social entrepreneur, investor, public speaker and writer creating the 5th Industrial Revolution and championing UN SDGs.

Prateek Dwivedi (Co-founder & CMO) is a Blockchain enthusiast, investor and veteran Internet Marketer. He conceptualised the proprietary 5IRE consensus mechanism and reward protocols.

Vilma Mattila (Co-founder & CBO) is a Venture Capitalist & Futurist. She has Incubated 40+ Projects including Qtum, Tron & Aleph Zero. She is also an Advisor at the EU Blockchain Observatory.

Utkarsh 5ire: Our marvellous tech team is headed by Sai Kossireddy who is a Visionary Technology Leader with a record of accomplishment creating technology strategies and products that address across industry opportunities, along with Zakaria Salek, Head of Blockchain R&D, who is a security of information systems engineer. He is a Communication protocols and E2E encryption enthusiast.

Aman: Serge Ajamian heads our Advisory Coucil. He is a Cofounder of Node Kapital, investing and scaling in DEFI, NFT, Gaming, Esports, Metaverse, Infrastructure & Layer 1/2 solutions.

Rahul Rautela is head of operations and Design. He is a Software engineer turned social entreprenuer with experience in building for-benefit businesses, and also has a knack for design.

Utkarsh 5ire: and myself and Aman :)

We are gradually expanding our team and have already onboarded some recognised individuals and firms from the crypto space. The whole team is really excited for this journey.

Aman: We are the first ecosystem that is addressing to tackle the problem of blockchain sustainability right at its core. No one can argue that our world needs help in supporting alignment between corporate enterprise and social impact.

5ireChain has the potential to leverage blockchain technology and address the challenges of sustainability to build an ecosystem that is potentially huge and transformative for society, the economy and the environment.

Utkarsh 5ire: You can read more about our team & advisors here ➡️ https://5ire.org/about

Saigon 💎 | OIG: Extremely diverse and well-placed team! You guys cover a lot of ground with all of your skillsets and experiences! I think the authenticity of you guys will resonate with a lot of people 🔥

Can you explain a few technical features and benefits do you have that will drive people to use 5ire over other blockchains? What do you have as an advantage that makes you unique in comparison to other ecosystems?

Aman: 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.

Utkarsh 5ire: 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

Aman: 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

I think that’s that.

Saigon 💎 | OIG: Very ambitious! But that is the only way to set your sights in this space.

What are the different use cases for 5ire exactly? Who do you envision using your products?

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.

▪️5ireChain ecosystem focuses on building sustainable solutions of the future, including smart cities and smart villages, governmental level solutions including self-sovereign digital identity and document management and e-governance solutions while we aim to create more transparent and robust on-chain solutions for SDG-related measurement including smart sensors and IoT and development and reporting standards as well…

5irechain will work on Metaverses and 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, accountability features, and sustainable reward distribution.

Yes, so we have numerous use cases:-

You can read more in details here ➡️ https://bit.ly/5ireWP

Saigon 💎 | OIG: Definitely a ton to digest here. But it seems as if this ecosystem has a ton of use-cases including organizing different bodies through a structured, reliable and cost-efficient network through which collaboration and creation can occur across a horizontal and linear plane. Interesting stuff guys!

You have a huge roadmap, what are you most proud of achieving so far?

Utkarsh 5ire: Thank you Saigon

It has been a thrilling journey and there have been some great achievements, it's really hard to pick 1, but if given no choice:-

The moment we are most proud of is finalizing the Proof of Benefit incentive mechanism. The progress regarding the nodes is promising, and at the same time, the technical team is learning so much and becoming full of talent and experience.

We cannot for you guys to unveil the Proof-of-Benefit concept to the world!

Saigon 💎 | OIG: I do not think we have ever seen a roadmap more ambitious, Fortune 500 partnerships, smart city solutions, metaverse launch etc. Where do you see 5ire chain in the next 10 years? Do you think that you will be able to fulfil all these different aims?

Aman: Our modular approach of designing the runtime of the blockchain is focusing on the multi-chain approach that allows the ecosystem to always bring further solutions as a part of the ecosystem and assure the longevity of the vision.

I think in 10 years we see 5ire chain to be the default blockchain that other projects choose. It’s a long road ahead of us but with the right team, we are gonna get there.

Saigon 💎 | OIG: Well we are happy that we can be at the start of this journey with you!

Well gents at this point I’d like to turn it over to our community questions on Twitter.

Twitter Community Questions

Twitter question 1)

Utkarsh 5ire: 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. And actions furthering the adoption will continue :)

At 5ire, our main focus is centred around sustainability & mass blockchain adoption.

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.

Saigon 💎 | OIG: An excellent place to start indeed!

Twitter Question 2)

Aman: Good question :)

Blockchains have a significant amount of utility over several fields. However, despite the technological and economic advances, blockchain ecosystems are wrapped in a for-profit paradigm where the human factor is missing.

The image of the future is eclipsed with incertitudes, as this absence of the service of humanity at the base layers of blockchains leaves the logic in the code without guidance by design.

5ireChain intends to be the leading blockchain ecosystem to solve these 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.

5ire is a blockchain ecosystem that brings forth sustainability, technology & innovation to build the 5th industrial revolution. Actions in the 5ireChain adhere to the philosophy of 5IR, creating a net positive impact on the planet.

Saigon 💎 | OIG: Agreed! I would say many aspects of the modern economy do not hold human and environmental factors with the regard that it needs. So a sustainable solution that focuses on these core functions as it’s main service offering, is very unique!

Utkarsh 5ire: Absolutely :)

Twitter Question 3)

Utkarsh 5ire: Yes.

This new mechanism encourages the 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

The vision of making the world more sustainable and a better place

Saigon 💎 | OIG: Great stuff Utkarsh and Aman

Before we end the AMA, are there any final words you would like to leave with our OIG community?

Aman: Thanks a lot Saigon

Utkarsh 5ire: Yes, we would like this opportunity to thank everyone who is here for the AMA on behalf of the 5ire team.

And especially the OIG team! You guys are amazing.

Saigon thankyou!

Saigon 💎 | OIG:

Thank you guys for being here! We look forward to following your journey and watching 5ire grow into the chain it is supposed to be!!

5ireChain:

Website: https://5ire.org/

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

Telegram: https://t.me/FireChainOfficial

Reddit: https://www.reddit.com/r/5ireChain/

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

Linkedin: https://www.linkedin.com/company/5irechain/

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