⭐ Commerce & Advertising
CyberMiles ("CM") is the blockchain technology being developed by 5xlab, a blockchain development laboratory. 5xlab is working closely with 5miles, a leading c2c marketplace operator with more than 12 million users in the US. 5miles is expected to be the first platform to utilize CyberMiles’ blockchain protocol, and will also assist 5xlab to develop the technology. Over the last 3 years of leading innovation in online & local marketplaces, 5miles has accumulated the necessary technical and commercial know-how to tailor blockchain technology & smart-contracts for real-world applications. 5xlab seeks to use this expertise to develop CyberMiles, with focus on trust and compliance. This will enable it to be a mainstream blockchain technology for real-world businesses.
Our proposed solution is a protocol innovation that makes a stack of proven business middleware technologies accessible to a distributed virtual machine on the blockchain. The new blockchain is highly performant and scalable supporting over 10,000 transactions per second. It enables businesses to write Smart Business Contracts, which are distributed middleware applications that codify business rules and processes. The network's native crypto currency, the CyberMiles Token (CMT), may be used to settle transactions, reward network validators (who execute Smart Business Contracts), and incentivize community members to provide services to each other.
A unique advantage of the CyberMiles blockchain is that it will be deployed to support 5miles’ existing e-commerce network of over 10 million US-based registered users, and over $3 billion USD in estimated annual transactions. This would immediately create the largest blockchain-based commerce network in the world. The network could provide services such as decentralized user identity and credit management, decentralized settlement clearing house, peerbased voting and conflicting resolution. Example applications on the network platform include decentralized personal information “wallets”, peer-to-peer small business loans, and peer dispute arbitration.