5ire is a blockchain ecosystem that embeds sustainability to its consensus mechanism. In line to foster sustainability, the venture capital arm of 5ire is established to fund and incubate startup projects with similar vision.
The potentials inherent in the blockchain technology can be harnessed to foster a sustainable future. This novel technology has a role to play in attaining each of the UN Sustainable Development Goals (Vision 2030). From eradicating poverty to gender equity, quality education and all other SDGs are attainable with the power of blockchain technology.
More interestingly, there are various startup blockchain projects already working towards achieving each of these visions. While they are all in their infancy, the concepts and protocols behind these startup projects throw light on the indispensability of blockchain towards achieving those goals.
The Challenges So Far
While blockchain startups emerge with interesting promises and concepts, the possibility of their success is largely seated on a razor-edge. This is because of the arrays of challenges faced by blockchain as a technology itself.
Blockchain has been criticized on different fronts by the mainstream media. From high energy consumption to serial fraud and money laundering. It is important however to note that these criticisms do not truly reflect the true nature of blockchain. Like all radical and revolutionary technologies, blockchain is having a hard time convincing the world of its potential.
On that same note, other factors hindering blockchain adoption includes skill gap, low scalability, security and a damaged public perception of the tech. These factors rolled together pose a clenched fist to the success of blockchain startups.
The Venture Capital Arm of 5ire
There are notable blockchain solutions addressing SDG concerns, but hardly you see a solution as holistic in approach as 5ire. 5ire is a blockchain ecosystem. Built from scratch with sustainability in mind, it is poised to bring SDGs to the doorstep of the world.
5ire is a blockchain ecosystem. With a sustainability-driven protocol, it aims to foster a sustainable future by driving a paradigm shift from a for-profit to a for-benefit initiative. This is inline with the UN 2030 vision of Sustainable Development Goals.
The 5ire ecosystem comprises 5ireChain, our proprietary blockchain technology, a wallet, an exchange, NFT marketplace, and a VC funding.
As part of our approach to drive sustainability and attain vision 2030 of Sustainable Development Goals, we established a venture capital arm to fund startup blockchain projects. The major criteria for selecting and funding a project is based on the UN vision 2030. We are looking to fund blockchain startups that are developing solutions for one or more of the SDGs.
The venture capital arm of 5ire offers an all around approach to startup projects. From funding, marketing, to mentorship and alliances with major stakeholders in the industry. This is in effort to help projects survive the harsh environment experienced in the startup stage.
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Country: United Kingdom
Website: https://5ire.org