This product is currently a kickstarter project so it has not been tested in anyway. Basically 550 FireCord is 550 parachute cord or "paracord" but with the ability to use it as tinder for fire starting.
So, deploy your 550 FireCord to meet all of your parachute cord needs. For example,zipper pulls and handles to keychains, bracelets and lanyards and as simply as lashing.
When you need the fire tinder remove the inner strands, light just like any fire tinder and build your fire. After the inner strands are used the outer shell can still be utilized as before. 550 Firecord is also waterproof, however, I am not sure of its longevity in the field and how long it would last when stored. For more information check out: