Introduction
CyberMiles for a start is a blockchain platform project that was designed to facilitate fast e-commerce transactions. It was developed by 5Xlabs which is in close working relationship with 5miles; a blockchain platform that will eventually use CyberMiles protocols. This way, 5miles hopes to create smart contracts that will facilitate the future of e-commerce. The project which specializes in e-commerce and the online market is expected to integrate trends in Blockchain innovations in order to power smart contracts on blockchain effectively.
On the norms, CyberMiles blockchain has its cryptocurrency which was developed by 5xlabs with its own cryptocurrency token; CyberMiles Token (CMT). It is a liquid currency and it is quite compatible with all activities that borders on e-commerce. It is different from the standard cryptocurrency in such a way that the team behind it have designed it in such a way that its strength has been to saddle the issues related to e-commerce. CMT is also built in such a way that it can enhance the growth of e-commerce applications. According to CyberMiles foundation, their long term goal is to create a public network with extremely safe and reliable services, not just for its users but also its members. In November 2018, CyberMiles raised over $30 million USD in its ICO, selling over 420 million CMT and it is planning to launch its first version of blockchain later this year.
CyberMiles can be used for innumerable different types of industrial functions, such as giving e-commerce companies turnkey options for the development of alternative C2C platforms, helping to resolve community-based disputes, and building price options. It also allows local companies to effectively manage their companies, providing agencies with promotion platforms in real-time to promote their agencies and help them improve their revenues through the use of a smart contract from CyberMiles.
With its grand design made specifically to cater solutions for e-commerce companies, 5miles has plans to use this technology. Hence they are gradually hatching their plans to move sellers and consumers on their e-commerce platform. Once the network reaches the critical level, partner platforms and markets are expected to have their own network effects strengthened by incentives from CyberMiles Token. This is expected to establishing CyberMiles as the blockchain protocol leading market and commercial applications.
For three years, 5miles have been a leader on online and offline innovation. The company's top app is 5miles, with up to 10 million registered users in the US estimated to have an overall transaction value of over US$ 3 billion in 2017. 5miles have certainly enjoyed the technology and business required to renew blockchain technology and intelligent contracts for practical applications. In addition, 5 miles app is also the top ten shopping app in the United States. The average user on 5miles spends nothing less than 24 minutes every day on the app. This by all means makes it one of the most used e-commerce app in the states.
CyberMiles association is building the blockchain based stage that will be discharged publically and permit the web based business and clients to execute safely. The stage will be constructed utilizing the brilliant business contract innovation. It is exceptionally streamlined for the enormous scale internet business organizations. Online business from all around the globe can utilize the CyberMiles blockchain stage to get to the huge system of the venders and purchasers network. It can utilize the CyberMiles Token as their in-application tokens to help the program
The use of the5-mile blockchain from CyberMiles will help to reduce exchange expenses and make trading information, data and e-commerce issues more secure. The use of the CyberMiles blockchain and the creation of its local token will be applied across other complimentary platforms and shopping centers to become one of the best market driving blockchain convention for business and e-commerce applications.. The migration of 5 miles data to the blockchain is thought to be a decent step forward to embrace blockchain innovation in the e-commerce industry.
When securing data and information for the users of e-commerce, users can make transactions freely. CyberMiles will also include Smart Contract modules to allow and encourage marketers to collect and manage sub-communities and 5Miles will revolutionize the ecosystem of e-commerce to create CyberMiles ' awareness and adopt.