Hello, hello, we are here for the fourth edition of the script talks and we have two amazing guests today from the fire chain
We have wood carage eat there. Hello guys right there
Hi, how's it going? It's been good. It's been good
First of all, thank you for being here
We have really pleasure to host you here and to find out more about the fire chain
First of all, I have to say you have a fire name
How did you come up with the name?
So fire is based on the fifth industrial revolutions of five
IR stands for the fifth industrial revolution and since our blockchain is focused on
good and conscious capitalism
so we see the confluence of conscious capitalism and
Blockchain in order to make them sustainable hence the fifth industrial revolution building on top of fourth industrial revolution, which is relatively better known
Wow, it sounds sounds really cool
And I saw also on your website that it says that it's fire chain is a layer one
EVM compatible smart contract platform that focuses on
sustainable development goals
Could you tell us a little bit more about?
sustainable development goals and why is it so important to have a layer one chain that is
Basically defined by the goals defined by the United Nations
well, I think the United Nations sustainable development goals is a
Invitation to all enterprises startups and individuals to
help address some of the most important issues that are there in business and society and
When we came up with the concept of the layer one, we wanted to create a new infrastructure
and an incentive mechanism that rewards businesses for being
Consciously capitalistic which essentially you can you know make more financial gains by
sustainable best practices
Our incentive mechanism is linked to
Good business practices. So if an organization is say carbon neutral
They get a higher score and we calculate the score based on 650 plus parameters and on those parameters
How close the aligned we are with the UN sustainable development goals are a key
Metric because these goals are public these can be tracked
and we want organizations to stop greenwashing and
get to the core of the issue and
Use our infrastructure to build the kind of decentralized applications that will change the name of the game
Gotcha, and I would like to talk about one elephant in the room
And that's the topic of electricity consumption in the web tree world
I read in the internet that energy consumption of all the crypto axis is between
0.4 and 0.9 percent of annual global total electricity usage and those numbers are huge
So what do you think like basically from my opinion we try to solve
One problem with the crypto and with the web tree world
But we we we got ourselves in a second problem, and that's that's electricity usage
Do you think there is a way out of this problem?
You know so the the whole issue of electricity
consumption and crypto is mainly dominated by proof of work and Bitcoin in terms of where most of the energy is going and
Actually one of the big aspects of
Fire chain is the validators who are contributing to the consensus of the network have a
Consensus so they get rewards based on are they achieving?
Are they moving the goal post towards the sustainability goals so from an energy perspective if a
If a project is using renewable energy for instance to say do
Bitcoin mining we're actually in the process of trying to sign up some of the Bitcoin mining operations where they may be using
cleaner energy sources or renewable energy sources to do Bitcoin mining or take waste energy sources that weren't being used before
And so there's an example of how to
Positive behavior because if you look back, you know four or five years ago
Everybody was talking about how the Bitcoin network was going to be regulated by certain EU company
Places in the EU because of the energy consumption
But that doesn't take into account the fact that you could stimulate renewable energy production and make it actually more
produce more renewable energy by shifting over
Some of the crypto mining towards sustainability and towards renewable. So it's actually a really good a
Really good question and it's something that fire chain can contribute a lot to that process by incentivizing
positive behavior outside of
Typical government incentives and things like that which take much longer
So one of the benefits of having this built into us into the consensus mechanism itself is that?
Essentially, you could you could have more real-time rewarding happening versus having to wait for years for
Incentives to be to be given out
So I think that that answer is part of that question
But in general the other aspect of that is, you know, fire chain is using proof of stake, which is a very low energy
consumption consensus protocol, but if you look at the rest of the rest of the industry certainly with carbon offsets and with
Validators to come on to the onto fire chain that could be mitigated and I think there there's probably a pretty good chance
It could go carbon-negative
Cool I really love that part about
Incentivating a good behavior and I think it's for us as a web trip participants
It's it's really important that we embrace the role of a change and that we start
Doing the change that we don't wait on the governments to solve these problems. So
Congratulations on that and by the way, congratulations on another thing
I saw on your X profile that you received ten million dollars
And I also read that funds will be used to power the fire grant program
Okay, can you tell us a little bit more about the about the grant program?
Sure. So let's focus on the grant program more than anything else because as part of our approach towards
Enabling the next level of decentralized applications to be built
We want to encourage the founders and not just give them funds
But also provide them with the mentorship support marketing enablement product market fit etc
so that they can end up becoming huge on fire chain using our infrastructure and
To do that we are ready to of course put in financial capital, but also provide support in other ways
So this grant program the holistic mentorship program which offers capital
Strategic support marketing health and product market fit
So we want to build the best in class grants program to enable a larger goal
Which is to help the next Microsoft's and Google's which are going to be built on web 3 the equivalence
To come out of our chain because that's essentially how we will become successful
Can you tell us a little bit more about the whole idea
Behind the fire chain and how did you get the idea to start with this project?
Did you did you had some experience in the web 3 or did you start it in the web 2 and you saw that there?
Is a need to change some things in the web 3 and can you tell us a little bit more details about the team members?
Yeah, the co-founders were serial entrepreneurs and they were building in the internet era for a while and
While they were building a lot of companies in the web 2 they found a huge opportunity to build a new kind of infrastructure in web
3 and fire was a result of trying to combine all their passion and pursuits
The other other executives and team members also have very interesting backgrounds
I used to work at Microsoft and then I started a company called network capital fire acquired a stake in it
David is a founding advisor of Hedera chain and has been a serial entrepreneur and a technical writer for a
very long time and you can consider him an og in the
Then many of our other executives also have a solid background in working or studying at the best of companies
And we're very proud to work with our community as well
So if you look at the talent density in our partners such as script network, we love the work that you guys do
So we are really excited about the talent density all around and to further the mesh mission
Amazing. I think it's really important to have
Experience team like the web 3 team who had tons of experience in the space to carry out
The project of this kind of magnitude so I could see that you definitely have a talent to do that
When I when I was showing checking your project, I saw that you're partnering up with a lot of like real life
Universities companies project so basically are not focusing your partnerships only on web 3 projects
What is the reasoning behind it? And
What kind of collaborations and partnerships are you doing with all these projects?
Yes, I'm saying that we talk about education and David can talk about real-world assets
So in education, our goal is to partner with governments like Indian government middle-eastern government and launch best-in-class
blockchain education and training programs and we have government of India University of
Abu Dhabi and most recently SSU and
Several other partnerships engaged. We have a strong university enablement team our executives speak at
universities in the US UK India Middle East and so forth and
We want to enable the next generation of developers to
Learn our ethos understand our values and build best-in-class companies using that
The real world assets are a big component of our product market strategy
And how we're gonna approach that and David can perhaps shed some more light onto it. Sure. I mean I've met the whole
Reasoning to to build especially in physical infrastructure. Now that you've heard the term D pin. It's basically
decentralized physical infrastructure and then digital versions of that and the reason why
You have to go outside of web 3 to find, you know, if you look at large-scale
Projects and large companies who were doing sustainable who are tracking sustainability. Most of those companies are not web 3
So what we're trying to do is get them
To be moving the needle on their own companies and then get them involved in web 3 so that then they become
They build d apps on top of the network and so on so that outside of universities. It's more like
large corporations and supply chain
large corporations like large electric utilities that are
Essentially trying to build more sustainable energy practices
Across the board and then when you get into governments and things like that, I mean every specific government is trying to move
Towards a higher efficiency and so a lot of those entities are not involved in web 3
And I think that's one of the biggest challenges of how this whole web 3 is that?
yeah, there's a lot of people that are the OGs inside a web 3 doing their own thing and
The challenge is to get the web 2 companies to kind of migrate over and I think that's kind of the answer to that
Wow, you have really a big task
Institutions and universities and web through congratulations on the ambition to do that
Yeah, it's definitely it's definitely swimming upstream, but it's it's worthwhile. Yeah. Yeah, definitely
Definitely and I think that that's why I think with the web 3
There is a potential to change the world because we have to onboard all these web 2 people
Is it going to be today or tomorrow or in five years, but I think it just needs to be done. So definitely
Congratulations on doing that
Basically fire chain is an L1 chain and how would you compare a fire with all the other L1s in the space?
And can we even speak about the stats of the speed and all these things or you don't even?
Talk about you don't want to talk about all these things because you are not here to
Basically to compare yourselves
With them with all these metrics. I mean I can I can I mean go ahead you can go ahead
We have a lot of respect for what everyone is building and we we are not competing with anyone
There is a single blockchain built out of solid fundamentals, but we would like the ecosystem to grow
So no competition anywhere. We have huge respect for everyone who's been there
Yeah, and you know the other thing I would add is that I've seen just about every chain there is since
You know, I think a lot of chains are trying to build a special
Purpose around, you know, if you look at script, you know, you're going after
broadcasting and video and streaming of
video and information and that requires a different set of
Make maybe technical aspects in terms of speed and throughput and bandwidth in terms of fire chain
I mean, it's it's it's not slow by any means and it's definitely
you know, it's built on very interoperable infrastructure and
It's it's the consensus is unique in the sense that it's taking into account
the idea of sustainability
Parameters that can now allow that the consensus engine and the staking validators to earn more rewards
And that's really the more unique aspect of it in terms of like does it need to be?
finality in in milliseconds and
millions of transactions per second because of what how we're using the platform that's not necessarily a
Priority so so it's really more designed around appropriateness for what the task is which is
information from large large companies and you know smaller projects where that can be updated
Not in real time, but you know at reasonable time frames like maybe daily or weekly or monthly
So that those scores can be updated
So because of that it still has very low low transaction costs and it doesn't use any kind of proof of work
So it's not using high energy. So it's it's really been designed to be appropriate for what it's designed for I guess
Let's talk about the fire token
So basically what could fire holders do with the token and what would be the utilities of the token?
And I also saw that you have the staking v2 that that has just been launched and can can we talk about also?
The benefits of the stake in the coin
Well long-term believers will win and of course our
Token has grown in value quite a bit since launch and that just talks about the strength of our community
But what's exciting the most is that our
Partnerships are meant to make tokens actually useful. We want to see a time where in future people will be able to buy
You know their cars their cup of coffee using fire tokens
And we have some partnerships coming up with some of the biggest financial institutions that can enable
That scenario to to work out. So real product market fit is our focus and we're getting there
One more thing from the marketing side
I saw that you are building your marketing strategy a lot by building your audience and
Spreading the awareness by speaking on the conferences and in the universities
What kind of results are you getting with with this kind of approach like I would say more
directed towards the web to
Well, I don't differentiate between web to audience and web 3 audience audience is an audience and typically going to the top universities makes sense because you're essentially
So these people are going to be future blockchain developers
They are going to be people running organizations for university focus is in and around that and then when it comes to
Focus who are available on people
from different backgrounds and industries
So, you know the DJN kind of marketing we do something like we are open to everyone because we are democratic by behavior
Ultimately a long-term success will come from who's the future Bill Gates in web 3 and how do we find him?
And we find them essentially by going college after college university after university company after company and
Tell them what it makes sense to build on fire. I
love that approach. I love that approach because
You can see that you are building a long-term project with a long-term vision because you are here to build
For the future. So I really love this kind of approach
And while we are talking about the future
Where do you see fire change heading in the next 12 to 24 months in crypto?
It's like it's really a lot of time
But I guess you guys you have big plans for the future
So I would like to hear what are your plans for the next couple of years
Well in the short term launched the main net in June
Next get lots of developers to build on the main net by August
then by October get lots of organizations to
start publishing their green scores on our chain and
Then thanks to David and his team support get enough interesting
government support so that we can have
large partners in place of
technical talent building on
So long term. I already told you what we have to but in the next six to eight months. This is where we'd like to be
and the last topic for today and since you are the project that is focused around the
Ecology, I would like that we touch upon that subject also the ecology
What do you think we as a society and as a humanity are we in problem right now with?
We can see all these catastrophes
We can see that that earth is warming up and all these things
do you think like that we are in a problem or
Still there are we have time to correct these behaviors
Well, I am a techno optimist by default and what we're building is because we see the potential and the growth
But David is the real philosopher here. So let me I have him answer the question
Yeah, I mean from a technological perspective. We have all the solutions we need to fix everything
It's more political and it's more getting people on
Board which I think that just that to me points to web 3 and crypto as an industry
Has the potential from my perspective to do massive much faster change than if you wait for
The politicians around the world to decide what's going to happen where it's probably going to be too late
But yeah, and that's why I think in a lot of ways
I'm optimistic because I think
one of the reasons why I got into crypto was because of the strength in being able to get a lot of
Information out and get a lot of people on board of an idea much quicker
Than waiting for the you know, the mainstream
systems and the media to figure it out
So we have all the the things we need to make all the changes and I guess that just points to
Optimism in the sense that if if the way I look at things is that you could look at everything that's going on in your
Day and you could focus on all the negative things
Which doesn't get you anywhere or you could just focus on the positive and I think that's why I'm I'm it
One of the reasons why I got interested in fire chain when when I wasn't even I was an advisor
Was the idea of going back to that notion of?
incentivizing good behavior versus focusing on the bad behavior because if you just start thinking about
incentivizing good behavior then
Really you kind of put horse blinders on to the rest of it. You say we're doing our best and yeah
I think we have time. I think AI is also another thing that comes into play and everybody is now
Talking about how AI is gonna destroy us
Well, if AI really is super intelligent, we should be able to fix problems faster than we did before
So, you know again, you could take either either route. Yeah, there is time
To fix everything. I just think if without web 3 I would have my doubts
But I think web 3 is really the only thing that really could accelerate things faster
Because we do need to speed things up
Definitely. Definitely. I
Agree with you 100 percent
And for the end I really enjoyed this conversation for the end
We always like to share some kind of alpha for our listeners
So guys, I hope you prepared some insider information
Maybe that you haven't released so far and that you can share with our audience
And that would be really great
You a do you have any alpha I
Speculation at all because you know as a marketing leader, I want you to put all your dollars in in
One particular chain and I think you know which one but David can be more objective
And give us a scenario. But yeah, I genuinely believe that what we're building is iconic
Do your own research and put your capital wisely, but I hope personally you put it on one chain
Yeah, so and the bus I don't know I guess to get to the alpha
Discussion one of the things that I'm curious about script network is
My understanding is you're decentralizing the whole process of being able to do content creation and award and allow
Individuals to get rewards from that. So one of the things that I would like to maybe talk about in the future with script is
is a fire chain is going to be
Potentially someone who could generate a bunch of content around what we're doing is there
Opportunities for us to work with script network to actually start thinking about having on on
Your chain have content that we're providing and then have reward systems
Mechanisms embedded into that
Definitely a sustainability channel is something like that. Uh-huh. Definitely 100%
right now we have more than 15 channels and we are definitely going to keep adding more and more channels and
Like programs about education and sustainability and ecology. I think it should be definitely welcome
So I think we have more than enough material here to maybe start a new
New way for this partnership
Maybe the alpha is that we're in development of some AI tools that we can talk about at another time, but essentially
using AI to automate the process of calculating sustainability factors and
maybe in the future we can start talking about how to
Start broadcasting some of the new features and things that we're putting on our chain
That will will reserve until we were closer to actually launching them
But um, you know, I think that that's a lot starting point
Love it. Then that's been the alpha. I have been looking for so. Thank you, Dave
That that's been all for today. I really enjoyed this conversation and I'm really I'm crossing my fingers that this idea
is going to succeed in the in the future and that you are going to be able to onboard as
Many individuals and communities and universities into the web tree. So keep on guys. I think you are doing an amazing job and
Good luck. Thank you. Thank you very much
Thank you. See you next week. Bye. Bye