We Continue to Grow Despite the Bear Market

5ireChain
3 min readMar 22, 2022

With growing awareness and appreciation for sustainable growth and development at 5ire, with over $121 million investment committed, we are more confident in our mission and goals than ever.

5ireChain’s primary goal is to create a user-centric sustainability-driven ecosystem. We achieve this by embedding sustainability in the consensus mechanism architecture.

Sustainable development is fast becoming a global priority, with the United Nations’ Sustainable Development Goals formed in 2017. We have built 5ireChain technology with these social and environmental goals in its fundamental processes.

We have been taking the UN’s 17 SDGs as our inspiration; 5ireChain continues its push to facilitate the world’s shift from the 4th industrial revolution, focusing on AI and technological advances, to the 5th industrial revolution, focusing on human-centered design and sustainable development.

For the past few months, the 5ire team has been working extremely hard to secure 5ireChain’s homomorphic encryption algorithm, creating security-focused wallets that customer web 3.0 addresses can host. We own the .web3 root, allowing custom DNS, DiD, ERC-1755, ERC-20, and ERC-721.

We’ve also been implementing IPFS multichain support, lightweight blocks, data stored off-chain in proprietary oracles, a customizable governance board, IPFS encryption, scheduled smart contracts, and robust cross-chain functionality to enable a user to send transactions in +8 chains to .web3 links or phone numbers.

Along with the above projects, 5ire is also urgently implementing use cases for digital identity (self-sovereign identity ), encrypted file storage (IPFS), and land registry.

In the past few months, we have formed fruitful partnerships with over a dozen partners with names like FxDx, Moonrock capital, SafeLaunch, OIG, Croc Capital, Marshland Capital, Magnus Capital, Sanctum, and Alphabit Fund. We have also gained well-connected strategic advisors; 5ire is busy producing a community of peers for sustainable development.

We’re also looking forward to future partnerships to support the wider adoption of our vision of sustainability. From funding promising new ventures through 5ire Capital, our venture capital branch, to working alongside like-minded organizations in areas as diverse as finance to organic agriculture, we’re eager and actively pursuing relationships so that together, we can work towards the 5th industrial revolution.

We have also been developing additional use cases such as vaccination tracking. The COVID-19 pandemic is in its second year with no end in sight. From developed economies in the West to emerging ones in Africa and Asia, every country has struggled fruitlessly for containment within its borders. World governments have tried to cooperate in a global effort to quell this viral epidemic from infecting and killing people in waves of variants.

Similar to how a land registry proves a land parcel’s provenance, governments can use blockchain’s distributed ledger technology (DLT) to track human vaccination records accurately.

With the current bear market and several articles about blockchain founders quitting their platforms in the news, our partners and advisors have advised us against having an IDO on March 29, 2022, as previously announced.

Additionally, our community has asked for more time to make the IDO a memorable event in crypto history and has asked us to delay it further down the line.

5ire’s investors have also advised us to use this delay to get more KOLs and onboard new partnerships.

After taking everyone’s advice and suggestions, we decided to delay the IDO launch till a future date (TBA).

However, it is essential to remember: as the world’s first sustainable layer 1 blockchain, we remain committed to bringing innovation and creativity as we achieve the UN’s 17 SDGs by 2030.

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5ireChain

5ireChain — www.5ire.org | Layer-1 EVM Compatible Smart Contract Platform | In Consensus Sustainability