More and more today we hear how the blockchain technology penetrates into all spheres of our life. Today I want to talk specifically about the scope of online trading, e-commerce. Since many of us are shopping online and making the necessary payments there. And such large trading platforms like Amazon, Alibaba are becoming more and more popular.
So, what exactly cybermiles is?
CyberMiles is a Hong Kong-based blockchain platform created by U.S.-based ecommerce marketplace app company 5miles. The company aims to replace legacy ecommerce marketplaces like Amazon and Ebay with a suite of smart contract-based tools. It originated as an Ethereum-based network until the Travis mainnet launched in October 2018. CyberMiles Token (CMT) is the native cryptocurrency coin of the CyberMiles platform.
Dr. Lu is the founder and CEO of 5miles LLC, a highly rated local marketplace where users can buy and sell stuffs in their area, and Cybermiles blockchain, cryptocurrency (CMT). He graduated with PhD degree in Particle Physics from Southern Methodist University (SMU) in year 2005 and worked at CERN when he participated in theoretical and experimental research of Higgs Partical.
Dr. Lucas Lu, was previously a co-founder and CTO of Light In the Box, a company which went public on the NYSE, and prior to that, Lucas was the first GM of Alibaba’s Taobao Mobile platform, and was the GM of another Alibaba business unit. Lucas founded 5miles in 2014.
If you’re not already familiar with 5miles, it has over 15 million users as of the fourth quarter of 2018. It’s a mobile local marketplace app that combines Instagram and Cragslist to provide an alternative to Facebook Marketplace. It received over $62 million in Series A and B funding, with investors including SIG, IDG, and Blue Lake.
Facebook Marketplace alone has 800 million users posting up to 20 million new items for sale every week. Craigslist posts 80 million new ads every month, and eBay has 1 billion products listed. These are just two of the big names with their hands in the resale market estimated to be worth $41 billion by 2022 (more than double the $20 billion market in 2017).
But the biggest players in ecommerce are Amazon and Alibaba, which earn nearly a combined $1 trillion between them. These ecommerce giants are stifling innovation by choking out smaller competitors. CyberMiles was created to use lessons learned from 5miles to build a blockchain-based ecommerce platform so good even the competition is forced to use it.
CyberMiles Features
Here I immediately want to note the following fact that Cybermiles implements the protocol in such a way that each user can create his own trading module, create his own trading platforms.
Key features of the project:
Integration of modern digital technologies with already existing platforms
The project already has an extensive user base and has some success. This will allow you to quickly implement your development through existing users.
Decentralization and data throughput will be optimized and allow the platform to be productive.
The platform will be multi-level, which will allow to make its own developments on its basis and implement them into the system.
Where can I apply CyberMiles?
Ready-made templates for creating your own online stores.
For arbitration, in case of any disputable issues on the platform, for example when purchasing or delivering goods.
It will be possible to post and conduct auctions
Inside the platform there will be an opportunity to use alternative methods of payment and financing.
Special advertising opportunities, for example, for promotions.
If we consider today’s blockchain solutions, then it can be noted that they place greater emphasis on decentralization, while they lose in productivity and productivity of platforms, which makes them essentially useless in use for the general mass of users. Often, the fact that with a fully decentralized blockchain there is a high probability of hacking is often overlooked, because a large amount of low-quality software code accumulates. Therefore, optimization and compatibility of the latest technologies become one of the priorities on which the team is now focused. But as users get from this only benefit.
The efficiency of the system will be supported by the internal CMT token, which will allow users to use the wide functionality of the platform. Much attention is paid to the token’s liquidity and the possibility of its integration into partner applications and services.
It is worth noting that the platform will also have a wallet that will not only store cryptocurrencies, but also store personal and bank information of users. This information is needed to ensure that only trustworthy sellers and buyers are present on the platform, as well as to exclude the possibility of fraudsters. When using the platform you will be sure that you work with reliable people.
#5Miles Data Migration #5MilesDataMigration
Further information
Website: http://www.cybermiles.io/
Whitepaper: https://cybermiles.io/en-us/cmt/whitepaper/
Telegram: https://t.me/cybermilestoken
Facebok: https://www.facebook.com/cybermiles
Twitter: https://twitter.com/cybermiles
Github: https://github.com/cybermiles
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