E-commerce was first introduced in 1994 when the first electronic banner was used for promotional and advertising purposes on a website. According to Forrester Research, electronic commerce generated sales of US $ 12.2 billion in 2003. According to another report in October 2006, non-travel online retail revenues in the United States were forecast to reach a quarter of a trillion US dollars in 2011.
The project I want to talk about today is called CyberMiles. But what matters here is not only the name, but also the fact that it is a kind of addition to the existing commercial application model, which has been actively developing in America since 2014. And this application is called - 5miles. I think many of you have heard it, because this source is one of the largest in America, with an audience of more than 10 million users and a total capitalization of $ 3 billion in 2017.
As you already understand, one of the most popular e-Commerce sites in the United States, which has been successfully operating since 2014 and is actively developing from year to year, has become our concern. 5miles managed to use the C2C relationship model in its resources between sellers and their consumers, and also had all the tools needed for the participation of small and local businesses that would not be able to buy such high-quality marketing techniques. That is why the main goal of 5miles is to create a truly new modern market environment, where everyone has the opportunity to sell and buy goods, regardless of scale and level.
CyberMiles was developed by the CyberMiles Foundation. CyberMiles are the next generation blockchain designed and optimized for e-commerce and for mainstream adoption. By targeting e-commerce and online markets, CyberMiles with the collaboration of 5miles Holdings Limited will integrate the latest blockchain innovations to empower the Smart Business Contracts on a very effective chain to solve the problem of delays associated with existing blockchain. The utility token, CyberMiles Token (CMT), is the main token for funding and empowering new e-commerce applications and projects, such as how Ethereum is used for the current ICO generation. The most prominent of all things is that CyberMiles is fully compatible with Ethereum, can run all smart contracts and Dapps Ethereum! Their official website statement says that it is 100 times faster than Ethereum in terms of transactions per second! Throughout network development, the CyberMiles Foundation will support a decentralized governance platform, with strong involvement by members of the ecosystem.
The role of CyberMiles in all of these consensus is the most prominent. However, this company is designed to optimize all modern e-Commerce by developing a new generation of blockchain for this purpose. The main objective will be the mass adoption of all subsequent concepts and their direct application in practice. What cannot reach more than one existing decentralized system. They have several reasons for this. First, they were initially not adjusted for this direction. Second, they are unable to adequately address all the problems that arise because of the large number of applications that lead to other technical delays and overall reduction in operational application processing. And, thirdly, existing smart contracts do not fulfill all the required parameters that are very necessary in the e-Commerce field.
It is believed that after the TestNet Travis process, the CyberMiles Team will provide a better application than Ethereum can do. TestNet on March 30 will prove the safe function of CyberMiles. As they say, CyberMiles are safer than Ethereum, able to stop common smart contract bugs and also support an on-chain governance process that sounds like it's really a great project. Michael Yuan, on his blog says exactly what we will see when CyberMiles TestNet Travis is displayed. "After Travis TestNet online, we will work on some very interesting features to increase the CyberMiles blockchain beyond what Ethereum can do. For starters, we are building a highly optimized and ready-to-use virtual machine to support many business contracts from the box at very high performance.
After developing the new Blockchain Protocol, CyberMiles has all the opportunities to become the largest blockchain network for business applications available throughout the world. Because in Arsenal there will be tools such as: incentives and incentives for all members of the community, regardless of whether you are a seller or a buyer. This model will significantly smooth out all angles of conflict, and maintain high demand for all services provided in the system. At the same time, the smart contract developed will greatly simplify all the controversial issues that arise, and make it possible to resolve every dispute as quickly, reliably and safely as possible.
At the end of this review, we would like to note the fact that many large global e-Commerce companies and organizations and the cryptocurrency market are actively working with CyberMiles and 5miles, who have had a positive impact on their subsequent success. However, the presence of a strong and reliable partner only says about the long-term intention to end the business that began, thus creating the most reliable and sophisticated e-Commerce platform from the new generation. While eliminating all existing defects from centralized traditional projects, and introducing new and very effective tools.
For more information about projects and technical aspects, please visit the CyberMiles website,:
ANN Thread: https://bitcointalk.org/index.php?topic=2344875
Project Whitepaper: http://www.cybermiles.io//wp-content/uploads/2018/03/Project-white-paper_en-US.pdf
Application Download Link: https://play.google.com/store/apps/details?id=io.cybermiles.cmtwallet