Two Indian entrepreneurs have spearheaded the fifth-generation blockchain network known as 5ire, which looks to incentivize the implementation of United Nations’ sustainable development goals for users of its system. (Reporting via gazza_jenks)
An ambitious sustainability-based blockchain project has secured $100 million in a Series A funding round to drive its development.
The project has now attracted a total of $121 million in investment. A seed round secured $21 million from notable tech investors including Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital. 5ire presents a novel use case for blockchain technology that looks to promote practices that are aligned with United Nations SDGs. Its 5ireChain network is described as a first-layer, sustainability-driven and fifth-generation5ireChain is operated by a unique “sustainable proof of stake consensus protocol,” which will rank node validators based on the number of sustainable and ESG practices they follow.
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