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Indian Government Launches Blockchain Initiative With 5ire, Network Capital

The Indian Government's apex public policy think tank, NITI Aayog, has launched a blockchain module in partnership with crypto-focused 5ire, and Network Capital, a mentorship and career exploration platform, the stakeholders announced on Monday.

The project is under the aegis of NITI Aayog's Atal Innovation Mission (AIM) which has Atal Tinkering Labs (ATL) in more than 10,000 schools in India. AIM and ATL are part of India's initiative to "create and promote a culture of innovation and entrepreneurship."

During an online launch, Dr. Chintan Vaishnav, Mission Director of AIM, thanked 5ire's leadership for working "actively with ATL to do this blockchain module."

The Indian government's partnership with 5ire is significant since the startup gained attention for raising $100M in July 2022 to become in the company's words, "[the] world's first blockchain unicorn with sustainability at its core" as it looked to align itself with United Nations Sustainable Development Goals (SDG).

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