CyberMiles announced they have completed the crowd-funding phase of its initial coin offering in less than one day, which is among the fastest moving ICOs in history. The company has developed a new blockchain platform designed and optimized for commercial applications. For their online marketplace, CyberMiles received funding from 111 countries totaling about $30 million to develop its groundbreaking technology.
They worked in corporation with 5miles, a top mobile marketplace. CyberMiles intends to use blockchain technology to convert peer-to-peer marketplace shopping, using digital transactions form their blockchain development laboratory 5xlab. The new CyberMiles Token (CMT) endorsed by the cryptocurrency exchange COBINHOOD.
“We’re delighted that our token contribution event has been met with such enthusiastic interest from the community,” said Dr. Lucas Lu, a founding member of the CyberMiles Foundation and 5miles. “The public blockchain platform we’re developing has the potential to revolutionize e-commerce, so community support is critical to funding this initiative.”
CyberMiles’ value mark is premeditated to be a “master token” to fund and sanction new e-commerce applications and businesses. This includes a “smart business contract” platform for e-commerce, and public data services like personal identity and credit history using blockchains. The CyberMiles blockchain is suitable for many kinds of merchants, handling steps from payment to reimbursement. Applications made on CyberMiles will also allow CMT as their base utility, using it to issue their own tokens, and incentivize community partnerships like customer constancy agendas.
“The blockchain protocol behind CyberMiles has been uniquely engineered to empower businesses and break down barriers inhibiting marketplace transactions and applications,” Dr. Michael Yuan, CyberMiles’ Chief Scientist mentioned. “Ultimately, our team hopes this technology will solve real-world problems within online marketplaces. From providing alternative finance solutions for e-commerce to allowing local businesses to create targeted, real-time promotions, we’re confident that CyberMiles can level out the playing field dominated by the likes of Amazon and eBay.”