5ire, Network Capital and Niti Aayog join forces to launch blockchain modules

In the recent press release, Network Capital and Niti Aayog emphasized blockchain development in over 10,000 schools with the launch of the blockchain module.

5ire, Network Capital and Niti Aayog join forces to launch blockchain modules

By Nidhi Bhardwaj: The Indian government’s apex public policy think tank, NITI Aayog, on Monday announced the launch of a blockchain module in partnership with crypto-focused 5ire and Network Capital, a mentoring and career exploration platform.

According to the release, Pratik Gauri, CEO and co-founder of 5ire, emphasized the endless opportunities that await young students and how they can use blockchain to solve the 17 SGDs.

The project is part of NITI Aayog’s Atal Innovation Mission (AIM), which has Atal Tinkering Labs (ATL) in over 10,000 Indian schools. “AIM and ATL are part of India’s initiative to create and foster an entrepreneurial culture,” the release said.

What is this partnership important to both?

The Indian government’s partnership with 5ire is significant as the startup gained attention after raising $100 million in July to become the world’s first blockchain unicorn with sustainability at its core. It tried to align itself with the UN’s sustainability goals.

The ATL Blockchain module was launched on 23 January 2023 in the presence of Dr Chintan Vaishnav, Mission Director, Atal Innovation Mission; Pratik Gauri, CEO and Co-Founder, 5ire; Utkarsh Amitabh, CMO, 5ire & CEO, Network Capital and Deepali Upadhyay, Program Director, Atal Tinkering Labs & Mentor India.

What change would this module bring to the fore?

“The collaboration between both parties is a step towards the digital transformation of India as they are happy to be a part of this mission,” the press release said. “This innovative technology will revolutionize the way businesses and individuals interact and trade, providing a secure and decentralized platform for data storage and transfer,” the company said.

The aim of this scheme is to foster curiosity, creativity and imagination in young minds; and instill skills such as design thinking, computational thinking, adaptive learning, physical computing etc.

5ire is one of the world’s fastest growing blockchain unicorns, and has lent its technical expertise and knowledge in the writing of the module. Network Capital, as the world’s largest mentoring and career exploration platform, has enabled the curation and conceptualization of the module. In September 2022, 5ire bought a stake in Network Capital. Utkarsh Amitabh, CMO of 5ire and CEO of Network Capital, concluded the session by sharing his thoughts on building a fairer and decentralized internet that empowers young students to build and learn.