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CyberMiles

Welcome my friends to a new interesting ICO today and let’s see their great idea:

Empowering the Decentralization of Online Marketplaces

CyberMiles is the blockchain technology being developed by 5xlab, a blockchain development laboratory. 5xlab is working closely with 5miles, a leading c2c marketplace operator with more than 12 million users in the US. 5miles is expected to be the first platform to utilize CyberMiles’ blockchain protocol, and will also assist 5xlab to develop the technology. Over the last 3 years of leading innovation in online & local marketplaces, 5miles has accumulated the necessary technical and commercial know-how to tailor blockchain technology & smart-contracts for real-world applications. 5xlab seeks to use this expertise to develop CyberMiles, with focus on trust and compliance. This will enable it to be a mainstream blockchain technology for real-world businesses.

 The key benefits :

Platform advantages

5miles comprises of team members with extensive experience from leading internet companies, e-commerce platforms, and financial services companies from 5 different countries. For the past three years, the team has applied their expertise to build a successful marketplace, which has become one of the leading shopping apps in the US, generating over USD 3 billion of annual transaction value.

From 1 to 100

Compared to most blockchain projects, 5xlab already has a solid foundation, with 3 years of track record and 12 million users for its initial blockchain applications. Validated by approximately USD 62 million of funding from top VCs, and strengthened by its blockchain research over the past half-year, 5miles’ blockchain initiative has already gone from “0” to “1”. With 5xlab and the development of CyberMiles, we can realize our potential and go from “1” to “100” in our ability to disrupt real-world business practices with innovation.

Commercial applications

With 5miles, we have a clear and readily available ecosystem for us to apply our smart-contract modules to real marketplace needs. With more than 10 million users and millions of commercial transactions, 5miles provides CyberMiles & its smart-contract modules with a mature ecosystem to quickly develop and scale up its marketplace applications. In contrast, most other blockchain projects first develop the technology, and then search for applications, which is inefficient and highly uncertain.

Open collaboration & development

To further drive mainstream adoption, 5miles will establish a CyberMiles contracts market, in which its CyberMiles application modules can be licensed or jointly developed with partner platforms and agencies. Our smart-contract modules will be proven on our 5miles ecosystem, but can be applied to other platforms, and will also welcome collaboration with relevant agencies to ensure scalability of our solutions.

Striking balance between efficiency & compatibility

Traditional blockchains emphasize decentralization and compatibility across networks, but often at the expense of efficiency, which limits are appeal and usability for end-applications. Furthermore, a completely decentralized chain may be corrupted if too much poor-quality coding is accumulated. CM will focus on commercial applications, with protocols to ensure the appropriate balance between vertical effectiveness and network compatibility, limiting the ability for low-quality DApp to emerge on our chain.

5miles an ideal exosystem for blockchain development

Almost all of the transactions and interactions on 5miles is point-to-point (between buyers and sellers), and a large portion of our users are both active buyers and sellers. Additionally, 5miles has a market-by-market footprint, establishing highly active and very dense user communities in each of its core markets. The point-to-point transactions within a community are ideal for decentralized blockchain solutions to provide greater transparency & marketplace efficiency. Meanwhile, the market footprint allows for scalable, real-world A/B testing, giving CyberMiles a huge developmental advantage.

The Project vision & path:

CyberMiles is a new blockchain protocol being developed for the sole purpose of revolutionizing how commerce & marketplaces work. Imagine a world in which consumers can buy and sell products amongst themselves with the same confidence and certainty as they would from Amazon, or Walmart. Or if individuals could create their own marketplaces, and manage these communities in a truly democratic way. And now imagine if you could help shape this technology by being part of the network? That is the world that CyberMiles is creating.

CM is a new blockchain protocol being developed and optimized for business and marketplace applications. CM is being developed as a “fat protocol”, consisting of a blockchain-based “virtual machine”, and defined modules of middle-layer software stacks operating outside the chain, to support decentralized processes governed by smart contracts implemented on the network.

How does it work?

CM can be used for many different types of commercial applications, including turnkey solutions for building c2c trading platforms, community-based dispute resolution, structuring alternative payment & financing solutions for e-commerce, enabling local businesses to run targeted, real-time promotions, or building a decentralized, community-based ride-sharing platform. These are all examples of real-world problems that we are aiming to solve, but our first step is utilizing blockchain technology to revolutionize online marketplaces.

Compared to typical crypto-currency startups, CyberMiles has 2 major differences: Firstly, we have a team that is highly experienced with marketplaces & e-commerce (with an average of more than 12 years of experience at leading marketplace platforms), enabling us to better develop & execute on solutions for commercial applications. Secondly, 5miles has grown to a very significant scale since its launch 3 years ago. Its 12 million users, along with millions of transactions per year across more than 20 major categories, can be used to spearhead the early adoption of CM.

Project Roadmap:

 2014-2016
  • 5miles LLC established
  • 5miles receives $5 million (USD) Series A investment from SIG
  • Testing of the 5miles app begins
  • The 5miles app launches in the US.
  • 5miles receives $17 million (USD) Series B investment, led by IDG & Morningside
  • 5miles introduces user-verification and fraud-detection technology, further strengthening it’s innovative marketplace safety features
  • 5miles’ gross merchandise value reaches $100 million; receives $30 million (USD) Series B-1 investment, led by Blue Lake and Puhua.

2017-2018

  • 5miles surpasses 11 million users, becoming a top 10 shopping app in the US (data from Similar Web); begins exploring blockchain initiative.
  • 5miles receives $10 million (USD) follow-on funding from existing investors (pending closing).
  • 5xlab formally launched, focusing on CyberMiles blockchain program; developing CyberMiles v0.1.
  • 5xlab to explore the issuance of CyberMiles tokens (CMT).
  • 5miles app to begin accepting CMT to facilitate marketplace transactions.
  • 5xlab to launch v1.0 of CyberMiles’ version.

2019

  • CM modules to be available for use on other platforms to facilitate further adoption.

The Project Team:

Cybermiles has been designed and created by a highly experienced team of financial, legal and technology experts. The team’s members bring together expertise that gives them a deep understanding of the challenges faced by many crypto enterprises including the legal, regulatory and compliance issues.

Finance:

  • Token: CyberMiles
  • Abbreviation: CMT
  • Platform Ethereum
  • Accepting ETH
  • Supply: 700m CMT

More info:

Tokens Sale Availability:

  • Start date: 21.Nov.2017
  • End date: 5.Dec.2017

 

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About the writer

My passion for everything that means cutting-edge technology, blockchain, cryptocurrency, ICOs and not only made this article to be alive. I’m Alex Hummels and I wish you “happy reading” of others of my articles. Thank you all.

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