Introduction
Technology has revolutionized the way we live today. With the advent of internet e-commerce has completely changed our way of shopping. Significant growth in the retail market contributed to the rapid development of e-commerce marketplace. People all around the world love to purchase goods and products through online more than offline stores. This method of purchasing not only saves time but also provides global exposure to new products. That's why online e-commerce marketplace today has 2 billion active users. According to a research report this number could grow at rapid rate because still many businesses have to come over internet.
Internet has played an important role in harnessing the e-commerce marketplace. It connects buyers and sellers from all over the world and facilitate a business relationship between them. It allow users to purchase products by sitting in their home and products got delivered to their door step. Here someone creates the products and sells them on online platform and someone buys it. This process is known as trade relationship. From the ancient times we are following this trade principle till today. Nothing changed just the technology has given more tools to perform it in a better way than earlier. But everything is not so sweet as it seems. The e-commerce marketplace is having many fundamental challenges which needs to be addressed immediately.
Problems
The e-commerce marketplace is the largest industry in the world today; And is also having that much of associated problems. Today's e-commerce network is completely centralized and fully controlled by big market players. The centralized system has provided them an advantage to rule over the marketplace. Today's e-commerce industry runs on archaic business model and outdated technological methods. The market is completely filled with large number of intermediaries and wasteful processes which drives up the product cost more than 15% of its original price. That's why the end customer will receive the product at far higher prices due to the unnecessary intermediaries.
But change is the law of nature and every new technology replaces the old one and creates a way towards the future. In the recent years the world has witnessed a revolutionary technology called Blockchain. It's immutibal properties attracts every person around the world and businesses are began exploring the use blockchain into their core applications. Now thanks to CyberMiles project which is aiming to revolutionize the e-commerce through blockchain technology.
Project objective
The main aim of the CyberMiles project is to create a blockchain technology powered decentralized protocol which aims to empower e-commerce marketplace through specifically designed smart business contracts. It provides an opportunity for every retail and online businesses to get adopted blockchain and smart contract facility into their business workflow and provide quality service to customers.
About 5Miles
5miles is a leading customer to customer (c2c) e-commerce network in the United States with more than 10 million active users. It has surpassed $3 billion dollar worth transactions in 2017. 5miles app is in the list of top 10 shopping application in US. On an average every single user spends at least 24 minutes a day on the 5miles app and is the most engaging shopping application. 5miles is actively developing blockchain based e-commerce solutions and aimed to revolutionize c2c e-commerce network.
Principle of operation
5miles wants to bring c2c e-commerce marketplace over decentralized blockchain network. 5miles strengthens the c2c relationship between buyer and seller. Implementation blockchain brings security, transparency in every process and importantly gives trust in the system. Thus, small entrepreneurs, local businesses and commerce corporates will shift towards adoption of blockchain technology into their core business applications. And they will have an ultimate opportunity to drive their sales and attract customers through quality service offered by CyberMiles. Most importantly decentralization gives power in community and they are decide every platform operation and working principles. This helps to scale up the marketplace.
The blockchain solution offered by CyberMiles will provide many benefits to e-commerce participants, such as:
• in order to push decentralization, CyberMiles offer ready made smart business contracts to businesses, with which they can automate their work processes;
• the financial e-commerce platform offered by CyberMiles will help market participants to make business and transaction settlements securely and transparently;
• the CyberMiles ledger chain will support millions of transaction volume which is necessary for e-commerce marketplace;
CyberMiles wants to create a fully fledged decentralized blockchain solution which can be easily implementable in every type of business.
Advantages
One of the main advantage of CyberMiles is that it is community driven and community oriented e-commerce marketplace. The CyberMiles blockchain protocol will incentivize every community participants including buyer and seller. Adoption of blockchain technology brings transparency, security and trust in every platform operation. Smart Business Contracts offered by CyberMiles will help every type of business to easily implement and automate their processes. This complements eliminates need of any intermediaries and commissions associated with them. This helps to bring down products price and gives benefits to end consumers. This also helps to resolve any conflicts if arises between market participants.
Decentralization gives power in the hand of community and they can decide and future developments and their voting helps to resolve any conflicts. Simple say, it is the community driven e-commerce solution to every market participant.
Token structure
• Token ticker: CMT
• Total tokns: 1 billion
• Present circulating supply: 800 million
The CyberMiles CMT token is presently listed in top 20 cryptocurrency exchanges such as Binance, OKEx, Houbi Global etc.
Token distribution
Project team
Conclusion
It is good to see such a real use case projects are developing on blockchain technology. CyberMiles wants to revolutionize the e-commerce industry through decentralized blockchain solutions. The smart business contact offered by CyberMiles will be a game changer, it suites to every type of business model and ready to serve their customers. It is worth to note that CyberMiles is already made partnerships and is providing solutions to e-commerce participants.
Finally I would suggest you to read the official whitpepaper of the project for more details. This project needs much public attention and I wish all the best for this great project.
Learn more about CyberMiles:
Website: https://cybermiles.io/en-us/
Read Whitepaper: https://cybermiles.io/en-us/cmt/whitepaper/
ANN thread: https://bitcointalk.org/index.php?topic=2344875
Telegram: https://t.me/cybermilestoken
Facebook: https://www.facebook.com/cybermiles
Twitter: https://twitter.com/cybermiles
Reddit: https://www.reddit.com/user/CyberMiles/
GitHub: https://github.com/cybermiles
About Author:
Bitcointalk username: Abhijeetcg
Bounty0x: abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
CMT wallet address: 0xeb0afdd9b5f6ceb55c2119ab1ea8f1753f51a1f7
