CyberMiles - the 'ethereum' for e-commerce applications

• While Ethereum is developed for transactions & commercial applications, it can be inefficient for specific commercial transaction contracts, CM is developed to build smart-contract modules for commercial applications such as building b2c trading platforms, community-based dispute resolution, structuring alternative payment & financing solutions for e-commerce, enabling businesses to run real-time promotions or to build a decentralized community based ride-sharing platform.

• Instead of writing each application from scratch, CM’s smart business contract will have access to an integrated slack of business software middleware making it easy to develop and reuse. Think of it as pre-defined contracts that can be easily used and even altered by changing just the key terms saving a lot of time and cost in development of applications.

• CM already has protocols for 12 key commercial applications for 300+ transaction types covering applications for online marketplaces and e-commerce.

• Following the lead of Ethereum, CM is building a turing complete virtual machine attached to the blockchain that can be programmed via a JavaScript like language that can complete various tasks. To get a bit technical, CM will be built on the tendermint platform which is based on DPoS (Delegated Proof of Stake) consensus mechanism and can potentially support 10,000 transactions per second with a block generation time of less than 10 seconds.

• CM is therefore designed to be highly efficient and scalable for running complex smart contracts especially designed for e-commerce transactions.

• It is being developed in close collaboration with 5miles. 5miles is a leader in C2C e-commerce - it has a mobile application and digital marketplace (think Craigslist but with better listings, secure trading platform and an app). It is committed to migrate its existing 12 MN users in the US to CyberMiles. The total transaction value is currently ~$3 BN annually.

• Already has a track record with its 5miles app over the past 3 years with its 12 MN+ users and funding of over $62 MN from top VC firms

• Beyond 5Miles partnership which will kickstart this project, this project has the vision to cater to various applications such as a decentralized identify management platform, p2p small business loan marketplace, an efficient supply chain e-commerce ecosystem, addressing counterfeit problems on e-commerce, automatic escrow for sales transactions, providing an ICO platform for e-commerce - if done the right way, this can be big

• CyberMiles Foundation will be an independent, not-for-profit entity that maintains and facilitates democratic governance for the members of the CM ecosystem and will be a community of partners (node operators, validators, service providers, marketplace operators, businesses, end-users)

• Dr. Lucas Lu, CEO was previously CTO / co-founder of Light in the box (a company that went public on NYSE), then later he was the GM of Alibaba’s Taobao mobile platform and GM of another Alibaba business unit. He founded 5Miles in 2014. The team in general has strong experience in e-commerce / marketplaces.

• In 2018 Q2, 5miles app will begin accepting CMT to facilitate marketplace transactions. CM modules to be available for use on other platforms to facilitate further adoption in Q1 2019. We should expect to see a solid growth in our investments 2019 onwards once the platform really expands. E-commerce focus is a key differentiator

Token Sale:

700 MN tokens will be offered for sale - the total of 1 BN will be in circulation of which 100 MN will be with CM team & partners (vesting period of 2.5 years), 5miles will keep 100 MN and 100 MN will be part of the reserve for end-users. The hard cap has been decided to be 10 BN CMT. Hence, like Ether, CM will reward validators for both creating new blocks and executing smart contracts on the block (via gas fees)

Sign up (bonus tokens):

You may use my affiliate link to register for the token sale and get 5% additional bonus tokens:
https://cm.5miles.com/s/xGNYp4DAi8v79XT

Or you may use the following link to register without the bonus tokens: https://cm.5miles.com

In order to invest, you have to go through a quick verification process and sign up on their website. You can invest once you are verified.

As always, I suggest you read the whitepaper and join the telegram chat group before investing and make an informed decision. I write about ICO's that I am either looking to invest / have invested already so I have some stake in what I'm writing about. But I'm not an expert and advise you to conduct due diligence before putting your money into anything.

Happy investing!