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Business News/ Markets / Cryptocurrency/  5ire wins AIBC's ‘Social Impact Project of the Year’ award

5ire, a 5th generation blockchain network founded by two entrepreneurs of Indian origin, today announced it has won the AIBC Asia's ‘Social Impact Project of the Year’ award.

Underlying the importance of social impact, AIBC stated, “The stronger our ties develop, the more powerful blockchain becomes. Because mass adoption initiatives are critical to the global infrastructure, the Social Impact Project of the Year award will recognize projects that are utilizing blockchain technologies and, as a result, boost adoption and strengthen the community as a whole."

The win was especially significant as 5ire, which was founded just a year ago in 2021.

5ire's CEO and Co-founder Pratik Gauri said this was a significant recognition of the organization’s standing as the first sustainable level 1 blockchain and is a testimony to the market confidence in its offerings.

“This is a humbling moment for the founding team, as this shows that we are on the right track. Our commitment to the UN's 17 SDGs and our mission to solve those challenges by 2030 is being hailed as a crucial tenet for the future," he said.

Prateek Dwivedi, 5ire's CMO and co-founder added, “I am truly humbled and have been given the mandate for finding synergies in how we further promote our vision of 'For-benefit' ventures in the 5ire ecosystem to transition the world from 4th Industrial Revolution to 5th Industrial Revolution, meet the 2030 SDGs and beyond. I feel that sustainability is not a one-time phenomenon, but a consistent development benchmark here on forward."

5ire's CBO and co-founder Vilma Mattila said sustainable development is estimated to be a $20 - 30 billion dollar market in 2022 that is slated to grow to as much as $50 billion by 2030.

5ire has been working on the UN's Sustainability goals and partnering with nations across three continents as the first step in this direction. By signing MOUs, 5ire has taken the first step in the public-private partnerships in India, Nigeria, and the United States to bring their technological solutions for sustainability, better governance, more just and transparent law enforcement, and more.

The award ceremony was held in Dubai on March 20.

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Updated: 29 Mar 2022, 04:55 PM IST
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