What is Cybermiles?
Cybermiles (CMT) is a blockchain technology being developed and operated by 5xlab - a blockchain research and development institute. 5xlab cooperates with 5miles - a world-class expert group from My and China. 5miles was founded in 2014 and has raised about $ 62 million from well-known investment firms such as IDG, SIG, Blue Lake and Morningside.
5miles intends to be the first platform to use CryberMiles' blockchain protocol, while supporting 5xlab for more robust technology development. 5miles has been a leader in innovation in online markets and offline for 3 years, 5miles has enjoyed the technology and trade required to renew blockchain technology and smart contracts for practical applications.
5xlab will search for solutions to apply their expertise to developing CyberMiles with the trust and dedication of the development team. This will help CyberMiles become the leading blockchain technology for practical business activities.
Brief introduction about 5miles
5miles is a business standing in the top of e-commerce in the world, connecting consumers with consumers (c2c) in the US. Currently the company's top app is called 5miles application and there are up to 10 million registered users in the US, according to estimates exceeding US $ 3 billion in total transaction value in 2017.
Besides, 5miles app is also ranked in the top 10 best shopping apps in the US. On average, 5miles users spend 24 minutes a day for the application, which is an important factor that makes 5miles application one of the most attractive e-commerce applications in the US.
5miles is run by Dr. Lucas Lu, formerly a co-founder and chief technology officer (CTO) of Light In the Box, a company listed on the New York Stock Exchange (NYSE). . In addition, Lucas used to be the first executive director of Alibaba's Taobao mobile platform.
Payment Gateway
Tap into new revenue opportunities
Challenges for Traditional E-commerce
While there is a clear demand, it is difficult for traditional e-commerce websites to accept cryptocurrency payments. Traditional payment processing companies supports one or two mainstream cryptocurrencies and require high fees for converting into and out of fiat currencies (e.g., USDs). The cryptocurrency payment user experience is also poor for consumers, making them uncompetitive against traditional payment methods such as credit cards.
What is CyberMiles solution?
The CyberMiles payment gateway is a SaaS service offered by our partners. It can be embedded into any e-commerce web site to seamlessly accept customer payments in almost any cryptocurrency in today’s market, including payments in USD-pegged stable coins.
Accept all popular cryptocurrencies, including BTC, ETH, CMT, and virtually all ERC20 tokens.
Accept stable coins pegged to USD and other fiat currencies, such as USDT and GUSD.
Seamless and transparent user experience.
Security Token
A major challenge in all commercial operations, but especially true for fast paced e-commerce, is cash flow management to sustain and grow the operation. Securitization is a key tool for more efficient cash flow management. However, traditional securitization through Wall Street is expensive and inefficient as it requires expensive and slow human intervention in every step.
What is CyberMiles solution?
The CyberMiles blockchain makes it easy to issue security tokens for e-commerce businesses to manage cash flow and raise operating capital.
Supports all popular issuing standards including ERC 1400, ERC 1440, ST-20, R-Token, S3 and more.
Close collaboration with exchanges such as the OFN (OpenFinance).
Optimized for e-commerce related cash flow securitization.
Stable Coin
While e-commerce is the earliest and most popular cryptocurrency use case, its adoption is hampered by the wild fluctuation, high fees, and slow speed of cryptocurrencies. In most countries, consumers require merchandise to be priced in fiat currency. At the same time, the high transaction fees and slow confirmation time of the BTC and ETH networks have made them unsuitable for e-commerce payments, especially micropayments. To fully realize the promise of cryptocurrencies in e-commerce, we need a new class of cryptocurrencies that are pegged against fiat currencies, supports high speed transactions, and have very low fees. Those are stable coins.
What is CyberMiles solution?
The CyberMiles blockchain is optimized for stable coin issuance and transactions. The CyberMiles validators provide assurance that cross-chain deposits and redemption of stable coins are transparent and valid. The CyberMiles virtual machine supports the performance needed for e-commerce scale payment solutions based on smart contract stable coins.
Multiple stable coins pegged against GUSD and BTC for every use case
100% backed by verifiable deposits on the blockchain
High liquidity via on-chain OTC exchanges
Marketing Referral Program
Word of mouth marketing is one of the most effective marketing tactics. By utilizing the networking power of social media, many iconic companies, like Dropbox and Airbnb achieved hyperbolic growth with referral campaigns.
Adding the power of blockchain to this already proven marketing strategy takes referral programs to a next level. When incentive rewards are paid in a limited release blockchain based tokens, it unlocks the network ownership effect for the users, a double economic incentive.
What is CyberMiles solution?
Whether your's is a blockchain based business or a traditional web-based application, you can easily create and publish your own referral program by leveraging CyberMiles’ enterprise-grade and professionally hosted DPOS blockchain and our extensive library of smart contracts.
Whenever a user refers your product or service, he/she not only receives additional tokens but increases the awareness of the token hence increasing the value of his/her previously received tokens as well. This double economic incentive supercharges your referral program.
Easy integration with APIs and plugins
Track multi-level referrals
Instant and scheduled action based rewards
User Engagement Solutions
One of the biggest challenges in today's digital business environment is to keep your user base engaged and interested. No matter if we are talking about a blockchain based solution or not, audience engagement with your brand and product could make or break your business.
Blockchain token-based bounty and loyalty programs are powerful ways of gaining traction and growing an early audience. It directly incentivizes desired user behaviors to generate growth.
The key to your successful growth is execution. Planning, accurately tracking, and distributing rewards could be an overwhelming and resource intensive task for any organization.
What is CyberMiles solution?
With our secure and professionally hosted robust DPOS blockchain and our comprehensive smart contract template library, you can quickly build and run effective bounty and loyalty campaigns and build an active community around your brand and product. You can easily incentivize users to promote your brand or create content on your platform and a lot more.
Accurately monitor and reward collaboration
Automate daunting tasks
Easy integration with APIs and plugins
What are CyberMiles and Ethereum?
CyberMiles (CMT) were developed specifically for trade and commercial applications. Commonly used platforms tend to be less effective for contracts that regulate certain commercial transactions, because these platforms are not born to serve this purpose. Instead, CM is currently being developed to build smart contract modules to maximize the effectiveness of information technology needed for timely transaction settlement.
CyberMiles as the next generation blockchain for smart contracts. Smart CyberMiles business contracts are designed to be stronger than smart Ethereum contracts. This will be the next generation Ethereum (ETH).
Cybermiles optimizes for e-commerce applications. This can provide a very large library for smart business transactions involving e-commerce. This has created strong CyberMiles that are capable of making decentralized commercial applications.
Like ETH of Ethereum, applications made from CyberMiles can use CMT to release their own ICO. The amount of more than $ 1 trillion is the market size for e-commerce applications.
CyberMiles can support tens of thousands of transactions (TPS) per second through the most advanced stages in combining the most advanced ideas and the most advanced features of the Proof of Stake (PoS) engine that have become a consensus. According to the charter signed on the contract, today Ethereum only supports 10 polling stations.
Where CMT is optimized for e-commerce use, it is designed to simplify authorization payments such as Ripple (XRP). XRP regulates transactions between large banks while CMT's task is to regulate transactions between e-commerce and financial units where each unit is given the same capabilities and strengths. any unit has the right to start a conversation.
There are four benefits of CMT Technology
- SMART
- FAST
- SECURE
- FREE
CyberMiles has built a smart contract template library for e-commerce applications.
In addition to the speed of coin transactions, our Virtual Machines allow Smart Contracts to be calculated at speeds optimized for business needs.
Blockchain has created a perfect combination of scalability, decentralization and security. In addition, CyberMiles have implemented "pre-defense" and "post-recovery" mechanisms as additional safeguards.
CyberMiles eliminates transaction costs for the most common operations. This achieves this without compromising network security.
CyberMiles Token Issuance
CMT Token Issuance
The CyberMiles Foundation proposes to initially generate and issue 1 billion CMT, however over time, this may expand and be capped at 10 billion CMT. Further information about when and to whom CMT are proposed to be allocated can be found below.
Upon the completion of the proposed CyberMiles token contribution (“Token Contribution”) for 700 million CMT, there will be a total of 1 billion CMT in circulation.
Token Contribution is proposed to launch soon after incorporation of
CyberMiles Foundation. For further information and updates regarding the Token Contribution, prospective participants are invited to provide their email address at http://cm.5miles.com. Further updates and announcements regarding the timing and the details of the Token Contribution will be communicated through the website.
Use of Token Contribution proceeds
The proceeds raised from the initial Token Contribution are intended be used for the following purposes:
- Fund the development and establishment of the CyberMiles blockchain protocol.
- Marketing and operating expenses related to the expansion and migration of 5miles’s platform to the CyberMiles’ blockchain network. Arrangements with 5miles and the CyberMiles Foundation will be at arms length.
- Research and development costs incurred by the CyberMiles Foundation in developing the CyberMiles platform.
Allocation of CMT
In addition to the hard cap of 700 million tokens to be issued for the Token Contribution, it is proposed that another 100 million tokens will be pre-allocated to 5miles, in consideration for its role in establishing the CyberMiles platform and developing the initial ecosystem for CMT.
This will be a key component of a strategic partnership in which 5miles contributes its brand, technology, and integration of its 10+ million registered users with CyberMiles and CMT. A further 100 million tokens will be pre-allocated to the CyberMiles team & partners, for developing the technology & operating the Foundation. The token allocation for both 5miles and for the CyberMiles team and partners will be subject to a long-term (2.5-year) vesting period.
A further 100 million CMT are proposed to be held in reserve for future release by the Foundation to end-users, to jumpstart the use of the CyberMiles applications and to encourage participation in the ecosystem. The CMT to be distributed is intended spur adoption of various CyberMiles processes and applications (such as voting on dispute resolution, setting up CyberMiles wallets, etc.), and completion of Smart Contracts on the CyberMiles chain.
CyberMiles Features
CyberMiles advertises all of the following facets for its blockchain-based marketplace.
- Experienced Team
- Commercial Applications
- Open Collaboration and Development
- Balance Between Efficiency and Compatibility
- Website : http://www.cybermiles.io/
- Facebook : https://www.facebook.com/cybermiles
- Twitter : https://twitter.com/cybermiles
- Weibo : https://weibo.com/Cybermiles
- Github: https://github.com/cybermiles
- ANN : https://bitcointalk.org/index.php?topic=2344875
5miles has large ride leading net companies, and they’ve already launched one of the world’s biggest customer marketplaces.
CyberMiles has declared that its ecosystem is equipped for industrial use, and its smart contracts can be utilized to resolve real marketplace needs. They diagram to combine these modules into their current 5miles ecosystem to prove its use in a massive and lively marketplace.
5miles plans to establish a CyberMiles contracts market where CyberMiles application modules can be licensed or at the same time developed with different platforms.
Traditional blockchains emphasize decentralization and compatibility throughout networks at the price of efficiency. This can limit the appeal and usability for end applications. CyberMiles, on the other hand, will center of attention on industrial applications and use protocols to ensure the excellent balance between vertical effectiveness and community compatibility.
Overall, CyberMiles sees its platform as the best ecosystem for improvement – particularly amongst business companies seeking a effective P2P marketplace solution.
The CyberMiles Core Team and Advisors
Dr. Lucas Lu, CEO/Founder of 5miles. Lucas received his PhD degree in Particle Physics from SMU in 2005. He worked at CERN when he participated in theoretical and experimental research of Higgs Particle. 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 plat.
Dr. Michael Yuan, Director of the CyberMiles Foundation. Michael received a PhD in Astrophysics from University of Texas at Austin. He is the author of 5 books on software development, published by Prentice Hall, Addison-Wesley, and O'Reilly. Michael was an active code committer in large Open Source projects such as Firefox, Fedora, JBoss, and others. He is an expert on enterprise and mobile software, and was a Principle Investigator on multiple research projects funded by the US government.
Alex Lau, Director of the CyberMiles Foundation. He received his Software Computer Science degree at University of North Texas in 1999. Previously, Alex worked at Nortel Network, before moving to China. He was the R&D Manager for SUSE Linux in Beijing and Taiwan and was the CTO for Symbio Mobile. He has been working as a consultant for the distributed filesystem for SUSE and as a Blockchain Consultant for WeBank and 5miles.
Garwin Chan, CFO of 5miles. Garwin is currently the CFO of 5miles. Previously, he was a Managing Director at Founder H Fund (private equity arm of Founder Group). Prior to that, he was a Vice President at Bain Capital, a global leading investment firm. Garwin graduated from Harvard College cum laude in 2003. He also received his MBA degree from Harvard Business School in 2008.
Rick Cantu, General Manager of 5miles. Currently General Manager of 5miles, overseeing business development, client solutions, and business operations. Formerly VP of Good Deeds Wireless, a mobile telecom startup, and has worked more than 20 years in TMT. Prior to his startup experience, he was a senior advisor at Morgan Stanley. He received his BA in economics at University of Texas, San Antonio.
Trey Troxel, Product Strategist at 5miles. Currently our Product Strategist at 5miles, focused on commercializing the 5miles technology within the auto industry. Previously, Trey was the Director of Sales and Marketing at a large automotive group, and before that, he was a senior executive at multiple top-tier automotive software and digital platforms, including Autotrader.com, PureCars, and vAuto. He received his BA at the University of North Texas.
Valerie Coleman, Director of Business Development at 5miles. Currently our Sales Director at 5miles, focused on digital solutions for “Auto & Job Classifieds”. Previously, Valerie was sales director at Monster.com, and before that, she spent 15 years at Autotrader.com and Kelley Blue Book, focused on the sales of digital service solutions for large car dealerships across the country. Valerie received her BA in marketing at The University of Texas, Austin, and her MBA from Marylhurst University.
Natasha Mehra, Project Manager at 5miles. Natasha graduated with a BBA degree at SMU Cox School of Business in 2008. She became a consultant under the IoT division at Accenture after gaining experience with HM Capital Partners and Challenger Capital Group. In 2010, she volunteered to help develop the local economy in Uganda and has focused on implementing product solutions for a variety of businesses and industries since.
Frank Lee, Advisor to the CyberMiles Foundation. Frank is the founder of several start-up companies. He had successfully developed the first Litecoin ASIC miner in the world. Two of his companies are included in MI eco system. He has invested in and co-founded companies in various areas, including Game, VR, AR, IOT, etc. Frank graduated from Tsinghua University with a degree in Electrical Engineering.
For more detailed information, you can directly visit our site below :
Author by Dico88
Congratulations @tristan88crypto! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit