Introduction
Blockchain technology is enabling a decentralized internet of programmable money. It is the future of e-commerce. However today’s blockchain technology is faces two significant barriers. It is too slow and its applications, known as smart contracts are too limited. The CyberMiles blockchain solves these problems in one fell swoop. CyberMiles is a smart contracts platform optimized for e-commerce at scale high throughput. CyberMiles provides a large library of smart business contracts in computer code, which can be triggered and executed and transparently recorded on the blockchain without human intervention, ensuring the validity and security of the contract. This encourages other e-commerce businesses to build their applications on CyberMiles and use the CyberMiles token (CMT) as their digital currency. CMT can be used to pay for the execution of smart business contracts, just like ETH on the Ethereum network. It can also be used to facilitate decentralized settlements between parties, just like XRP in the Ripple network.
CyberMiles will be jumpstarted with 12 million US based users and more than 3 billion dollars in annual transactions. The blockchain securely records those users’ identity, credit history, reputation and transactions.
Now let’s find out hoe real people enjoy the real benefits of CyberMiles technologies. For instance if Alice wants to get a small business loan to expand her online store, on CyberMiles Alice makes her loan requirement public using her public key, but gives out no personal information. Since Alice’s entire credit and reputation history are recorded on the blockchain, and associated with the public key, Bob will be able to evaluate and offer a loan. Again, Bob only reveals his offer with a public key without any private information. Should Alice accept Bob’s offer? Hence, they will both enter a smart business contract which is a software program on the CyberMiles blockchain. They will send in personal information together with digital signatures proving their identities. The smart business contract program executes the financial transaction securely and privately without any human intervention. The CyberMiles blockchain provides an extremely valuable platform to build and deploy e-commerce and financial applications on the highly-scalable CyberMiles blockchain
About CyberMiles
CyberMiles Foundation Limited is a company guaranteed to be centered on Hong Kong and administrated by the not-for-profit motive. It has close ties with 5miles LLC, with the intention of increasing the spread of CyberMiles which is a state of the art blockchain designed specifically for e-commerce and for large scale mainstream adoption.
CyberMiles will fuse with the latest blockchain innovations to power “Smart Business Contracts” on a highly effective chain, by channeling its focus on e-commerce and online marketplaces. It will also focus on resolving the latency issues related with current, general-use blockchains regarded to e-commerce.
CyberMiles Token (CMT) its utility token is planned to be a “master token” to empower and fund upcoming e-commerce projects and applications, just like how ETH is used for the present generation of Initial Coin Offerings. During the course of the network development, CyberMiles Foundation will be responsible for the governance of the decentralized platform, with heavy partaking by members of the CyberMiles ecosystem. Cyber Mile’s vision for the future is clear. A large scale public network that offers safe and trustworthy business services for its members and by its members.
5miles intends to bit by bit transfer its buyers and sellers, as its first collection of users, onto the decentralized network of CyberMiles. Strictly speaking, 5miles’s marketplace platform will be one of the first environments to make use of the network as a back-end facility and hence provide the initial startup for the CyberMiles ecosystem.
As soon as the network achieves considerable amount of critical mass, its built in network starts to make effect, reinforced by incentives provided by the inbuilt CyberMiles Token (“CMT”). These incentives and reinforcements are anticipated to be applied not only to 5miles but to other partner platforms and marketplaces which CyberMiles will be working on in the future driving CyberMiles’ growth and expansion as a globe dominating blockchain protocol for marketplace and e-commerce applications.
Although 5miles is the use case this platform is applicable to many more companies than simply 5miles. CyberMiles is setting up a smart contracts platform and it goes way beyond what 5miles is going to do. 5miles is just the first customer of this platform. Now some things that benefit the e-commerce industry with blockchain will be for example not having any downtime on your websites because you don’t have a centralized website. CyberMiles is offering peer mediation in exchange for CMT tokens and that is a huge benefit.
CMT (CyberMiles Token)
CMT (Cyber Miles Token) is the inbuilt token of the CyberMiles platform. The price of CMT tokens at the time of ICO was listed as, 1 ETH = 7,000 CMT. CyberMiles is a project straight from the brilliant minds of USA. The ICO started on 21st Nov 2017 and the ICO ended on 21st Dec 2017. The total funds raised in the ICO is $30,000,000.
website : http://www.cybermiles.io
Whitepaper : https://www.cybermiles.io/vision/
My bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1250987