CyberMiles — the Ethereum of eCommerce & Online Marketplaces with a HUGE Head Start

(First published November 3, 2017 on https://easyicoreviews.com/cybermiles/)

Summary

  • The difference between protocols and apps
  • Introduction to CyberMiles
  • How CyberMiles is different
  • The team
  • Token specs & ICO
  • Conclusion

The difference between PROTOCOLS and APPS

As an investor in the crypto world you mainly get to choose between two things: Protocols and applications.
Protocols (like Bitcoin, Ethereum, NEO, etc.) let you develop apps (like Electroneum and Steemit) on top of them.

Cedric Dahl put this in a very nice way in one of his videos:
Apps are the light bulbs and protocols are the power grid that you plug the light bulb (or app) into.

Now which one do you think is going to have more value in the long term? The individual app or the protocol on which all the apps are built?

The CyberMiles ICO is a chance to invest in a commercial protocol unlike any we have seen so far.

CyberMiles, Next-Gen eCommerce

Screenshot from the intro video

CyberMiles is basically going to remove the paperwork in commercial supply chain management, among other things.
Just let that sink in for a moment…

In e-commerce, the tracking of what came from where and where it should go is currently being manually monitored and noted down in infinitely long ledgers either by the CEO in small businesses or by book keepers in big corporations.

It’s an enormous and expensive task that can easily end up costing much more than it should due to just one weak link in the supply chain.
For that reason this task is better suited for a blockchain algorithm, just like how the finance sector is currently being disrupted by the same technology acting as accountants instead of having people go through the numbers one-by-one…

Management of real-world items is the next step for the blockchain technology and it has long been speculated as to how it could best be done — well, CyberMiles might just be the solution to the problem.

Cybermiles is not a fresh company looking to get in on the current ICO craze, either.

Screenshot from the whitepaper

Their flagship, the 5miles app, already has 10+ million users and is rated the #10 most popular shopping app in the US, and they have already received approximately $62 million in investment since 2014 and with $3 billion in transactions in 2017 alone.

Right, that’s all fine and dandy, but how exactly is CyberMiles different?

Screenshot of the intro video

Well, on top of making e-commerce procurement and distribution management systems so much faster, cheaper, and clearer, CyberMiles is also going to be the basis of Peer-to-Peer marketplaces, in direct competition with companies like Amazon and eBay.

CyberMiles is decentralizing consumer-to-consumer (c2c) listings, dispute resolution, and payments to allow safe and secure deals in real-time between complete strangers — all powered by the blockchain as the middleman instead of a centralized corporation (like Amazon or eBay).

Screenshot from the whitepaper

Screenshot from the whitepaper

Screenshot from the whitepaper

The CyberMiles team sees 3 major problems with the current state of blockchain technology:

  1. They are not designed for e-commerce.
  2. They have not solved the latency issues needed for higher volumes of transactions.
  3. Smart-contracts today are too primitive for use in an e-commerce environment.

CyberMiles is the first to address these issues on a major scale by building a blockchain that can:

  1. Support a large library if commerce-related smart-contracts built specifically for business and e-commerce.
  2. Manage user identity and transaction data in a safe manner while enabling new transactions and settlements amongst the users of the network.
  3. Utilize delegated Proof-of-Stake to support 10,000+ transactions per second — a major obstacle for existing blockchains today.

And top all that, they’ve even got news coverage from the likes of Forbes, TechCrunch, The New York Times, The Wall Street Journal, BuzzFeed, Huffpost, and many others.

The CyberMiles Team

The team consists of 9 members accompanied by 4 advisors.
Alltogether, CyberMiles’ team members bring, on average, 12 years of experience in marketplaces and e-commerce to the table.

Screenshot from the website

  • Dr. Lucas Lu, Founder & CEO
    Lucas is co-founder and previous CTO of Light In The Box, was the first General Manager of Alibaba’s Taobao Mobile platform, and has a PhD in Particle Physics from 2005.
    He brings decades of experience to the team and seems like the right guy to lead a project as big as this.
  • Alex Lau, Director of the CyberMiles Foundation
    Alex was Research & Development Manager at SUSE Linux in Beijing and CTO of Symbio Mobile, a mobile software development company with over 400 clients.
    He has a lot of experience covering a wide variety of jobs and seems more than suited to help CyberMiles get to where it needs to be.
  • Garwin Chan, CFO of 5miles
    Garwin is a Harvard graduate and was previously the Managing Director at Founder H Fund and Vice Precident at Bain Capital, a global leading investment firm.
  • Trey Troxel, Product Strategist
    Trey is responsible for commercializing the 5miles technology within the automotive industry.
    He was previously the Sales and Marketing Director at Randall Noe Auto Group and senior executive at several top automotive software platforms, including Autotrader.com, PureCars, and vAuto.
    Cars are a big market in peer-to-peer marketplaces so it’s good to see that they have Trey to cover this aspect also.
  • Rick Cantu, General Manager
    Rick is currently the General Manager of 5miles.
    He has over 20 years of professional experience in technology, media, and telecommunications, and he was even a senior advisor at Morgan Stanley.

Token Specifications & ICO

Screenshot from the whitepaper

As previously mentioned, the CyberMiles Token, or CMT, will be running on its own blockchain.
The CyberMiles Foundation is proposing a max supply cap of 10 billion tokens to be issued.

In the ICO only 700 million tokens will be up for graps, with 100 million tokens reserved for the CyberMiles Team & Partners and 100 million tokens for 5miles, vested over a period of 2.5 years, and another 100 million in reserve for end-users.

Pre-registration for the ICO is ongoing untill November 21 and the only accepted currency is Ethereum
One ETH buys you 7,000 CMT, giving it a value of approximately $0.04 (4 cents) per token.

So where does the value of the token come from?

Well, there are numerous ways to earn and spend CMT on the CyberMiles blockchain which all add to the token’s value:

  • Running nodes to help secure the network.
  • Facilitating and validating transactions between buyers and sellers.
  • Executing smart-contracts.
  • Peer-to-peer customer support/dispute resolution (awarded when a soluton is found).
  • Buying ad space on the applications built ontop of the CyberMiles blockchain
  • Running promotional campaigns on the blockchain

These are just some of the instances that could spend CMT and thus increase its value incrementally for each successful interaction.

Is it worth investing in?

I cannot give you financial advice, of course. But I can tell you that money have been made on much smaller ideas with far worse tech, so in my opinion CyberMiles is a solid bet, especially long-term.

The fact that the 5miles app already has 10+ million users and 3 years on its back is a huge deal and goes a long way to make sure CyberMiles establishes itself as a leader in the market after the ICO is over.

I didn’t cover the team a whole lot because it just seems like a super solid team that can get the job done, without a doubt.

Website: cm.5miles.com.
Whitepaper here.

Only invest what you can afford to lose!

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