CyberMiles Foundation Limited (“CyberMiles Foundation”), is a company limited by guarantee to be incorporated in Hong Kong and governed in a not-for-profit manner. It will work closely with 5miles LLC (“5miles”), with the aim of developing CyberMiles: a next-generation blockchain optimized for e-commerce and designed for mainstream adoption.
By focusing on e-commerce and online marketplaces, CyberMiles will integrate the latest blockchain innovations to power “Smart Business Contracts” on a highly effective chain, and resolve the latency issues associated with existing, general-use blockchains. Its utility token, CyberMiles Token, is planned to be a “master token” to fund & empower new e-commerce applications and projects, similar to how ETH is used for the current generation of ICOs.
Throughout the network development, CyberMiles Foundation will be assisting the governance of the decentralized platform, with strong involvement by members of the ecosystem. Our vision for the future is a public network that provides secure and trusted business services for its members, by its members.
5miles plans to gradually migrate its sellers and buyers, as the first group of users, onto the decentralized network. In other words, 5miles’s marketplace platform will be one of the first environments to utilize the network as a back-end service and jumpstart the ecosystem. Once the network reaches a critical mass, its own network effects, strengthened by incentives provided by the CyberMiles Token (“CMT”), are expected to be applied to other partner platforms and marketplaces, driving CyberMiles’ development as a market-leading blockchain protocol for commercial and marketplace applications.