The CyberMiles Blockchain – Decentralizing E-commerce

CyberMiles is a new public blockchain that is optimized for the e-commerce world. It recently announced that the highly anticipated release of the Travis mainnet. This follows its introduction of Lity, which is the CyberMiles’ programming language.

It also released its virtual machine (CVM) a short while ago. The complete CyberMiles blokchain is the result of a year-long effort. Additionally, the mainnet makes good on the companies token offering last fall. During the token offering, the company raised 84,000 ETH from participants in over 110 nations.

How Does CyberMiles Work?

CyberMiles is a consumer to consumer (C2C) marketplace where users can create their own marketplaces, manage their own communities, and conduct transactions in a trustless, peer-to-peer environment.

CyberMiles is designed to be more than just a blockchain-based platform. The company is being developed as a “fat protocol” consisting of a blockchain-based virtual machine coupled with defined modules of middle-layer software stacks that operate off-chain. Together, all of these modules support decentralized processes governed by smart contracts implemented on the network. 

Problem

But how reliable are these resources? Can they deceive us? And our data entered does not fall into the wrong hands? All these questions over and over again arise in our heads, as cases of such problems have become too frequent in our trade and consumer world.

Of course, there are a large number of e-Commerce platforms in the world that control almost a large part of all goods and services in this segment. Here you can easily include platforms such as: Amazon, Aliexspress, Walmart and many others. These giants have evolved into a kind of automated business operations that focus more on increasing their profits rather than on some consumer interests. That is why most of the advertised goods or items can be found in our homes lying idle or worse, lying on a shelf in a far closet or in a landfill.

At the same time, using such a utopian model just to sell, they exhaust all their potential resource in vain, laying too large budgets for the promotion of another unnecessary product, when they could use their forces in other areas. Thanks to which users could feel more secure and secure, and not to worry about the transparency of all related processes. 

5miles vs CyberMiles Foundation

CyberMiles is banking a lot of its potential success on the fact that it will launch to 5miles’s user base. 5 miles is one of the top 10 most popular ecommerce apps in the United States. It has 12 million total users and does an estimated $3 billion in revenue annually.

If 5miles can get even a small portion of that $3 billion to transact in CMT, then it could be a huge boon for the token and the idea of blockchain ecommerce. Launching a platform at this scale comes with its own challenges and excitement. If the 5miles app successfully transitions to a blockchain-based backend, then it would be one of the largest enterprise applications of blockchain to date.

How Can Developers Use the CyberMiles Blockchain?

Developers can develop their own proprietary coins to mesh with the CyberMiles network, based on the CMT token. Cross-coin features, like loyalty points, can be integrated seamlessly.

CyberMiles proposes several interesting potential use cases.

Using CMT, digital coupons could be issued to users within a fixed geographic radius. Disputes between sellers and buyers could be submitted to service pool arbiters. Specialized groups could be created with a dapp system to cater to one particular good – say, classic cars.

CyberMiles also has the potential to change future advertising strategies.

“As a social network centered around local commerce, 5miles is uniquely well-suited to match supply and demand for goods and services, and CyberMiles’ solutions could fuel the next generation of features to better connect ‘sellers’ with the most relevant ‘buyers,’” the develops wrote. “For example, we expect many car dealers or auto mechanics would like to reach out to the daily volume of approximately 12,000 active car buyers on 5miles, and many moving companies would like to reach out to users buying large furniture. On traditional marketplaces, sending messages or pop-up notifications to those users may be intrusive and disruptive.”

In the CyberMiles system, CMT is used to transmit targeted messages that can be accepted or rejected by the system’s users. Accepted messages will generate a small portion of CMT as a reward.

TEAM

Lucas Lu founded 5miles in 2014 and is the CEO for both 5miles and CyberMiles. He has a PhD in particle physics and he worked at CERN prior to getting involved in tech. He was an upper level manager at Alibaba and CTO of Light In The Box which went public on the NYSE.

Michael Yuan has a PhD in Astrophysics and is the project’s scientific lead. He’s the author of five books on software development and worked on Firefox, Fedora, JBoss and other open source projects.

The rest of the leadership team is also highly trained academically and experienced professionally.

Conclusion

If you have confidence in decentralized marketplaces for online business, at that point CyberMiles is certainly an interesting project with a profoundly qualified team. All things considered, they are facing significant difficulties in creating a high throughput network. They likewise need to make sense of how to determine question and issue back charges using decentralized administration. There aren’t simple answers here and CyberMiles is as yet far from releasing form one of their platform. Until at that point, tread delicately and continue with mindful idealism.

For more information about the project

Website: http://www.cybermiles.io

ANN Thread: https://bitcointalk.org/index.php?topic=2344875

Project Whitepaper: http://www.cybermiles.io//wp-content/uploads/2018/03/Project-white-paper_en-US.pdf

App Download Link: https://play.google.com/store/apps/details?id=io.cybermiles.cmtwallet

Twitter: https://twitter.com/cybermiles

Facebook: https://www.facebook.com/cybermiles

Telegram: https://t.me/cybermilestoken

Bitcointalk username: Safazara 

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1783327

MY CMT ADDRESS: 0xe67a5ac616685b1e6110afe072fd25dc70680219