How Cybermiles Brings Decentralization To C-2-C E-commerce Via 5Mil...

Introduction
With the Advent of the internet, almost all businesses have gone online, including commerce. And like most other viable and profitable businesses out there, the e-commerce niche is dominated by big-money players like Walmart, eBay and Amazon to mention but a few. These big players are all running centralized systems and largely focused on sales and marketing of new products being pumped daily into the market by innovative manufacturers who ensure that there's virtually no shortage of new and exciting items for buyers to drool over. But this influx of new items into the market comes with a price on the part of the buyers; you find out that the smartphone you bought last week has had a better and upgraded version with more features (which of course, you MUST need) and next thing, you see yourself planning on buying the new model. Most times, people buy new stuffs not because they're lacking or the ones they had before are outdated but simply because there's a better option out there and this leads to having multiple identical items. Sometimes even, the new items bought turns out not to be quite as useful as envisaged. At the end of the day, one might be left with lots of barely used or nearly new items and may decide to sell off some.
Seeing as the market is now online, there's no better place to take your merchandize than online but unfortunately, almost all the big player e-commerce platforms deal on new items and here you are, trying to sell off your fairly or barely used item. What then can you do?
This is the scenario faced by thousands of people on a daily basis.

The 5Miles E-commerce Mobile Application

Launched in 2014, the 5Miles is an innovative consumer-2-consumer (C-2-C) platform that hernasses the powers of the internet to connect consumers in a profitable buyer-seller relationship with regards to fairly used items in a safe and dynamic ecosystem. The 5Miles stands out among it's peers because it is uniquely designed to provide a totally different kind of marketplace powered by a market-by-market approach hence ensuring that local and small businesses are not left out of online marketing. For a vibrant marketplace, 5miles leverages on geographic proximity of users and since every user has a unique user profile, users can rate and review ech other thus good market participants are assured of more business and good will from other members.

5miles And The Blockchain Technology

Being created by a vibrant team led by the visionary Mr Lucas Lu, it recognizes the importance of the blockchain technology to the e-commerce of the future and therefore, the need to integrate blockchain into its platform. Since the launch of the 5miles mobile app in 2015, it has long since established itself as one of the top 10 shopping apps with over 12 million users who spends an average of 24 minutes individually on the app daily and generate over $3 billion in annual transactions.

The decision to decentralize it's marketplace platform by adopting the blockchain was fueled by the knowledge that a decentralized system will ensure more transperancy of hitherto centralized operations and also provide a way of instituting reward systems that'll incentivize the participants to become more active in the community by performing various functions which are rewarded. This will make for a totally novel and dynamic c-2-c marketplace.

Cybermiles Foundation

Cybermiles is the new blockchain protocol developed to power the novel decentralized 5miles ecosystem. It is the next-gen blockchain protocol being developed to contain several attributes that makes it unique and different from other existing blockchain protocols.

it's designed with a huge library of commerce-related Smart Business Contracts on which decentralization of market processes are based unlike existing protocols like ethereum, which are equipped with just the Smart Contract
User identity and transaction data will be managed privately & safely, while enabling new transactions and settlements amongst participants. Commencing with 5miles’ 10+ million userbase, this access to user data will be a key driver for upcoming platforms to be powered by CyberMiles
To resolve latency problems arising from large transaction data typical of a thriving E-commerce platform, Cybermiles integrates a delegated-PoS (“Proof-of-Stake”) consensus engine to support large TPS units running into thousands.

Cybermiles Token CMT

Transactions on the Cybermiles network and applications running on the Cybermiles network will be powered by it's native token known as CMT.
CMT is initially built on the ethereum network as an ERC compliant token but as Cybermiles protocol is finally implemented on its own open source blockchain, all issued ERC CMT will be converted on a 1:1 ratio to the new native token with all rights and stored value transferred as well.
5miles is billed to integrate it's existing wallet option to accept and hold CMT tokens and once they're activated, users will be able to use and transact with the tokens on the 5miles platform.

It is pertinent to note that, 5miles is the pioneer real-world business on which the Cybermiles protocol will first be launched; but Cybermiles is designed to incorporate and provide decentralization for any other type of business that wishes to integrate blockchain seamlessly into its operations.

To gain more insight on the 5Miles Data Migration, watch this video here

Conclusion
Cybermiles blockchain protocol is set to be the pioneer blockchain project with real-life business application (finally!), boasting of the largest blockchain network and also contributing in no small measures to the massive mainstream adoption of blockchain technology.
5miles, on the other hand, will have the boasting rights of being the first ever real-life business to apply the Cybermiles blockchain protocol to its business.