5ireChain has now successfully raised a total of $10 million from well-known VCs and HNWIs in the blockchain space.
Singapore has embraced blockchain since the emergence of this new technology. It has witnessed many success stories in the blockchain sector. HUAWEI CLOUD, in collaboration with Morpheus Labs, provides a launching pad to welcome blockchain industry leaders, enterprises and governments from around the world to accelerate the mass adoption of blockchain in all its aspects.
Many global blockchain leaders and companies attended HUAWEI CLOUD DAY on 28 October 2021, including 5ireChain, 0Chain, Geeq, and more, discussing digital transformation through the blockchain industry.
These companies showcased their blockchain solutions at the event. 5ireChain, one of the new blockchain companies partnering with HUAWEI CLOUD x Morpheus Labs Launchpad, impresses the audience with its unique solutions to support the first for-profit blockchain-based ecosystem and solve sustainability issues in its presentation.
According to official reports, 5ireChain has successfully raised a total of $10 million from some well-known VCs and HNWIs. 5ireChain is dedicated to a paradigm shift from a for-profit economy to a for-benefit economy. It shares the same values as HUAWEI CLOUD and Morpheus Labs, to stimulate the adoption of blockchain and ensure its sustainable development.
It is always a challenge to use blockchain technology for the benefit of society, the economy and the environment. Many blockchain companies are keen to make a difference by leveraging blockchain, but no one can do it alone, at least in the long term. That's why many of them have foreseen the future of blockchain and offered to forge a strong collaboration with the pioneers, leaders and enthusiasts in this sector, in order to explore more possibilities and maintain more sustainability. Joining Launchpad will take 5ireChain's blockchain initiatives to the next level.
Here are some comments from Pratik Gauri, co-founder and CEO of 5ireChain:
"The Asian market is massive for crypto adoption and this collaboration aims to fuel the wider adoption of blockchain not only in India, but also in all other developing nations. Working with Huawei provides the 5ire organisation with a scalable and reliable cloud infrastructure. In addition, our involvement with Morpheus Labs, gives us access to collaborative opportunities. The 5ire team is delighted to announce this collaboration and looks forward to what it means for 5ire, as an ecosystem."
It is reported that 5ireChain is intended to create a strong community of developers to provide infrastructure for other crypto and blockchain projects. It aims to become a leader in the blockchain ecosystem to tackle sustainability issues with its core technology, the Proof of 5ire. This is a consensus that economically rewards companies for their efforts to accelerate the sustainable development of blockchain.
In addition to HUAWEI CLOUD DAY, there are other opportunities for blockchain companies to spread their messages and strengthen their cooperation. This is happening in Singapore, Dubai, Europe and all corners of the mechanism world. Blockchain needs not only HUAWEI CLOUD and Morpheus Labs, which have a strong industry infrastructure, but also new blood to unlock the true potentials of blockchain technologies across other verticals.
We have seen the rapid development of blockchain and crypto in 2021, and we can still look forward to its brave new future.
