In order to digitise its operations, Goa Police declared that it had inked an agreement (MoU) with Level-1 blockchain network 5ire. S.P. Crime, Nidhin Valsan, IPS, and Pratik Gauri, the founder and CEO of 5ire, signed the MoU on behalf of the Goa Police. Goa would become the first police state in India to totally abandon paper with the signing of this MoU.
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- With the implementation of a smart policing solution to increase openness and efficiency in policing, the MoU would establish a public-private collaboration between 5ire and the Goa Police.
- It will make processes more efficient and give stakeholders a more accurate picture of all events. The digitization and digitalization of offline systems would also be aided by the MoU.
- In accordance with a press release, 5ire‘s blockchain-based smart policing solutions can accurately record all official operations, giving police access to documents and evidence that will aid in assisting citizens.
- Furthermore, the Goa Police can use blockchain technology to streamline processes, make them online, and more environmentally friendly.
- 5ire, the 105th unicorn in India and the 20th of this year, raised $100 million at a $1.5 billion valuation in Series A funding last month from the UK-based conglomerate SRAM & MRAM Group.
Founded in August 2021 by businessmen of Indian descent Pratik Gauri and Prateek Dwivedi and web3 investor Vilma Mattila, the venture reached a $1 billion value in just 11 months, making it one of the fastest Indian startups to do so. Notably, 5ire is also collaborating with the Muzaffarnagar Police in Uttar Pradesh to create a smart predictive police system and get FIRs and employee information on the blockchain.