5miles Data migration onto the Cybermiles Blockchain: A milestone Achievement for E-commerce

E-commerce
From the beginning of the world, surviving, sustaining & flourishing in an ecosystem has been the ultimate goal of every living being. Either by innovation or consolidation.
It is believed that innovation is basically not about constructing an avenue for experimental purpose but providing solutions to real challenges. Creativity and inventions often provide solutions because successful innovations improve the quality of life.

E-commerce is the buying and selling of products and services online; through the internet. E-commerce has provided immense opportunities and potential by creating an environment where buyers and sellers interact globally without borders. Over the years, various technologies such as mobile commerce, internet marketing, online transaction processing, and inventory management systems, etc. are being improved upon year in year out.

E-commerce Challenges

Every industry has its own challenges and the E-commerce industry is not left behind. Below are some of the challenges facing E-commerce.

1. Finding the perfect niche
   The competition in E-commerce is making it difficult for an individual to find the perfect niche. This is due to the presence of industry giants such as Alibaba, Aliexpress, Shopify to mention few. In order to stand out and really create value, one must go a step further.

2. Traffic generation
   Retailers need various means to drive traffic to their products. There are various digital marketing platforms evolving and creating additional options through Seo and targeted ads. But all these come at a cost eating deep into the budget.

3. Payment barriers
   Cross-border payment has always been a hindrance to E-commerce, due to distortions to exchange rate. This has limited the global reach of many products; hence the need for a means of settling payment without hassles is needed.

4. Sustaining profit
   The success of an online retailer depends on the ability to reduce inventory costs, improve marketing, minimizing the shipping cost and reducing overhead costs.

5. Identifying the appropriate technology & partners
   Expansion is necessary for online retailers; hence the need to identify the required means for growth is vital. Identifying the technology to use or effective partnership is an essential move which must not be mistaken.
   Retailers hoping to achieve growth must have a strong technological foundation like choosing the right shopping cart, inventory management, CRM systems, analytics and so much more.
   Online retailers must be careful in choosing partners to work with in order to help implement and solve major challenges that may limit growth.

Cybermiles blockchain

Blockchain has been agreed by many as the future of world technology although it is still undergoing speculations by financial institutions. We have a Blockchain technology that has emerged for the purpose of assisting the E-commerce industry. This blockchain technology is called Cybermiles Blockchain, which is fondly referred to as the blockchain for E-commerce. Cybermiles hope to help the E-commerce industry fulfill its potential, by enjoying the benefits of blockchain technology which includes transparency, record keeping, and tracking of products using a secured blockchain and so on. You can learn more about cybermiles on Cmt Website

Cybermiles: The solution to Challenges facing E-commerce

When new ideas, concept, product or technology are discovered, it is always difficult for people to accept, until they have come in contact with it first hand or someone reliable recommends it. The fear of anything new is an abnormal type of fear called Neophobia. It is found in the unwillingness to try something new or break the norm. Technological advancement, ideas, concepts, and some products are futuristic and theoretical work of science fiction seems to be farfetched because most innovative ideas either die or remain prototype because people do not believe in them enough to invest in them and turn the idea, concept or product into an actual consumable product.

Cybermiles has been tested and trusted by thousands of people who believed in the vision of the team and supported the team from the beginning, during the sales of public offerings conducted years ago. During this period, various forms of development according to the roadmap have been on-going, such as periodic progress reports, conferences, AMAs with community members and Cmt holders. All these have been the groundwork for the success of the project.
Here are some of the problems cybermiles hope to address in the E-commerce industry.

Eliminate monopoly

The decentralized nature of cybermiles blockchain will help to evenly discharge power to relevant stakeholders by providing operators an opportunity to expand and change the E-commerce industry. This will directly impact and make even the power wielded by industry giants such as Amazon, Walmart, and Aliexpress, who seem to be doing all things possible to stay at the apex of the E-commerce industry. Cybermiles is here to disrupt the industry with the innovative block-chain technology and will hope to positively alter the dynamics.

Reduced transaction cost

Cybermiles is delivering on its promises by minimizing the running cost of businesses such as IT support, administrative task and so forth has been drastically reduced. Similarly, transparency allows the E-commerce industry to eliminate unnecessary expenses and redirect the funds into the growth and expansion of the business. Cmt tokens which will become the acceptable currency to be used on the platform is very much cheaper compared to conventional currencies. With the reduced costs on transactions, customers and shop owners are able to initiate considerable savings at the end of the day. A win-win situation.

Transparency, proper record keeping and establishment of trust

Cybermiles will be known for its transparency. With the enormous level of online scams/fraud and various degrees of crimes in a different industry, people are happy to adopt a technology that alienates their fears and offers them transparency. Cybermiles provides the opportunity for both buyers and sellers to track their goods and any relating information if they choose to. Both the seller and buyer will be able to ascertain when and whether or not the vendor is supplying the correct product or not. They can also monitor where the stock is at any given time which is an edge for the E-commerce industry.

Also Cybermiles will assist in data storage, which leads to the creation of proper records because all the information stored on the blockchain is secure, free from third-party manipulations and virtually impossible to hack. With all these and more which cybermiles is offering the E-commerce industry, trust is established between the main players in the E-commerce industry.

5miles: First mover integration onto cybermiles blockchain

The advent of E-commerce has birth various online platform with the intention of being the outstanding market place for Retailers alike. The USA is a hub for E-commerce; hence the union of 5miles and cybermiles which is going to be a beneficial partnership on a mission to change the course of E-commerce, due to the large user-base of @5miles and the loyal investors of Cybermiles Token. 5miles tend to benefit from the decentralized nature of Cybermiles blockchain and many more is awaiting the users of 5miles app. This migration is a revolution for the E-commerce industry.

For detailed Information about Cybermiles please feel free to use any of the follwing media platform
Cybermiles Website
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References
All images and video used in the article was gotten from Cybermiles website and youtube channel @ cybermiles.io