CYBERMILES: INCENTIVISED E-COMERCERCE ECOSYSTEM

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CyberMiles in partnership with the leading peer-to-peer marketplace 5miles has now been activated! For those who don’t know yet, CyberMiles is a decentralized blockchain protocol that is optimized specifically for business transactions. We have all been craving for a truly decentralized marketplace that allows the use of a specific coin for trading and we have finally got one in CyberMiles. The CyberMiles foundation, a research blockchain foundation is partnering with one of the biggest consumer to consumer shopping apps 5miles to create a totally decentralized marketplace specifically optimized for e-commerce.
 With over 12 million users of its c2c App, 5miles has integrated the CyberMiles token(CMT) into its latest version of its app which means that customers would be able to make transactions in CMT. This innovative partnership by 5miles is a game changer in both the c2c market and the world of cryptocurrencies. The acceptance of the CMT tokens will offer legitimacy to the tokens and increase the ease of doing business on the 5miles marketplace.
The CMT token will be usedfor arbitration, purchasing, loaning and even as incentives. The CMT will be used to buy and sell products and services, join groups and a host of other stuffs on the 5miles platform. Volunteer arbiters will save market place operators such as 5miles the extra cost of hiring and maintaining a team of customer service3 agents for conflict resolution. Subject to governmental controls, volunteer arbiters will be able to solve issues with the using the transactional data recorded in the blockchain without getting into personal information of those involved.
5miles while jump starting the CyberMiles blockchain network in a c2c marketplace is not all there is to CyberMiles. CyberMiles aims to be able to support many kinds of business transactions beyond c2c. Through the concept of smart contracts, the CyberMiles blockchain can become a leader in the provision of automated/smart contracts for commercial applications.
With the blockchain smart business contracts, it will be possible to implement a system that prevents the theft of personal data which is a grave concern for consumers and a huge liability for companies that hold such data. Users will be able to determine on a case by case3 basis who has access to their data. The timing, duration and accepted use of the data would be determined by the user. There will be no central repository of personal data that can be hacked.
The CyberMiles Foundation will generate and issue 1 Billion CMT, however, this may expand and up to a maximum of 10 Billion CMT. 700 million tokens will be released to end users and 300 million will be in reserve for 5miles and the CyberMiles foundation. In consideration for its role in establishing the CyberMiles platform, 100 million tokens will be pre-allocated to 5miles. A further 100 million tokens will be allocated to the CyberMiles team and partners for developing the technology and operating the foundation. 100 million CMT will be held in reserve by the foundation for future release to end users to jump start the use of CyberMiles applications and to encourage participation in the ecosystem.
CMT will inflate at an annual increase of 8% in total number of tokens and after 10 years, the foundation will decide a new rate of inflation.

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