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Want to be part of the marketplace revolution? AMA and learn how CyberMiles is empowering the decentralization of online marketplaces.

Mark Brinkerhoff
Nov 6, 2017

CyberMiles is a new blockchain protocol being developed to revolutionize how digital commerce and online marketplaces work. Imagine a world in which consumers can buy and sell products among themselves with the same confidence and certainty as they would from Amazon or Walmart. Or if individuals could create their own marketplaces and manage these communities in a truly democratic way. Now imagine you could help shape this technology by being part of the network; that’s the world we're creating (think of it as Ethereum for e-commerce.)

https://youtu.be/dzFglwJpj70

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Do you have any website or facebook page?

Nov 6, 7:12AM EST0

Of course! You can visit our website, cm.5miles.com, or our Facebook page, facebook.com/cybermiles, to learn more about CyberMiles or to register to participate.

Nov 6, 7:44AM EST0

Do you do all the work for the project inhouse?

Nov 6, 6:15AM EST0

Yes, we have a dedicated team of developers and advisors who are working to build out the new CyberMiles blockchain. Learn more about the CyberMiles team at cm.5miles.com.

Nov 6, 7:46AM EST0

Sorry for the potentially silly question, but how can we shape it by being part of it?

Nov 6, 4:18AM EST0

Not silly at all. There are several ways you can be part of this marketplace revolution. 

1. Register to participate in the CyberMiles Token Contribution Event (cm.5miles.com), which kicks off Nov. 21. Your support will help us build out the CyberMiles blockchain network. 

2. Join online marketplace communities like 5miles (5miles.com) and earn CyberMiles Tokens (CMT) by helping us manage and improve the community for all.

3. We will invest in other "dapps" (decentralized applications) in the future, which may be another opportunity for you to get involved.

Nov 6, 8:06AM EST0

Will you keep 5miles or merge it with CyberMiles?

Nov 6, 3:56AM EST0

Think of CyberMiles as the platform and 5miles as a (decentralized) application that can be built on it. 5miles intends to be the very first app on this new blockchain network, so in 5miles' case we'll migrate the existing marketplace to CyberMiles once development of CyberMiles is complete.  

Nov 6, 7:52AM EST0

Do you have any close competitors?

Nov 6, 3:03AM EST0

No, which is significant. Think of CyberMiles as Ethereum for e-commerce, designed and optimized specifically for online marketplaces. In this way it can be truly revolutionary in the world of e-commerce. 

Nov 6, 8:14AM EST0

How far in the development of the actual sofrware for CyberMiles are you?

Nov 6, 2:03AM EST0

We're roughly a third of the way through development. We already have an internal demo, built on the Ethereum network. At the same time we've been developing what will be the future basis of CyberMiles: its own blockchain technology and network independent of Ethereum. You can register to participate in our Token Contribution Event (cm.5miles.com), which will help us reach that goal.

Nov 6, 8:20AM EST0

What is your role in the project?

Nov 6, 1:32AM EST0

I'm part of the CyberMiles advisory team, involved early on in its development. You can learn more about me and our entire project development and advisory team at cm.5miles.com.

Nov 6, 8:16AM EST1

How long have you been working on this project?

Nov 6, 12:02AM EST1

Since early this year. (You can find a full project timeline on cm.5miles.com.) 

Nov 6, 8:20AM EST0

Where do you see CyberMiles in 5 years from now?

Nov 5, 11:43PM EST0

Widely adopted on 5miles, running numerous, important functions and applications for millions of users, as well as integrated into other third-party, e-commerce platforms to achieve an even larger scale. 

We also want to be a truly global network by then—from millions to potentially billions of users—with multiple, leading platforms from multiple countries, all running on CyberMiles.

Nov 6, 8:33AM EST0

Something else in it for third-party "dapps" (decentralized applications) on the CyberMiles blockchain: these companies' costs can drop substantially because the new technology will help decrease startup and operating costs, thus democratizing e-commerce globally.

Nov 6, 8:38AM EST0

Will you support other languages than English?

Nov 5, 11:35PM EST0

While it's primarily in English, we also have Chinese (traditional), Japanese, Korean, Malaysian, and Vietnamese versioning. (5miles, as a marketplace app, is already available and widely used in Spanish and other common languages, too, with more to come.)

Nov 6, 8:28AM EST0

What has been the hardest part of working on CyberMiles so far?

Nov 5, 11:20PM EST0

The hardest part is focusing on which areas to go after first, as we believe that there are so many areas for blockchain to revolutionize e-commerce processes.

Nov 6, 8:38AM EST0

How big is your team?

Nov 5, 9:06PM EST0

We have about 15 people wholly or partially dedicated to developing CyberMiles. You can learn about our team at cm.5miles.com.

Nov 6, 9:04AM EST0

What are the potential issues you see with the project long and short term?

Nov 5, 8:04PM EST0

In the short(er) term, one challenge will be integrating crypto currency with the mainstream market (represented by 5miles, for example).  Many people are still not familiar with crypto technology, so our job is to gradually introduce the various applications in a way that’s easy to understand and adopt for the average user. 

Changing regulations and associated uncertainty is also something that all blockchain projects will have to navigate. 

Nov 6, 8:41AM EST0

Do you plan to have CyberMiles available worldwide or just in the US?

Nov 5, 7:26PM EST0

Globally, and we already are working with certain parties to establish a presence in other countries.

Nov 6, 8:42AM EST0

What makes CyberMiles different from other blockchain protocols?

Nov 5, 7:21PM EST0

1) Our focus and expertise in e-commerce; 2) we will be jump-starting it with 12 million registered users—i.e. real people, actual consumers—from 5miles; 3) the technology is designed *specifically* for e-commerce.

Nov 6, 8:44AM EST0

How did you come up with the idea of CyberMiles?

Nov 5, 6:16PM EST0

5miles is a peer-to-peer marketplace, and, over the last few years, we’ve seen the power of economic incentives to reinforce good, productive behavior and interactions between buyers and sellers. The use of blockchain technology is the next big step for us, and something we’ve been working on since early this year. 

Nov 6, 8:46AM EST0

How will CyberMiles generate revenue?

Nov 5, 6:14PM EST0

CyberMiles is established as a not-for-profit foundation, whose purpose is to oversee and facilitate the development and adoption of the CyberMiles blockchain and its native crypto currency. Its first application ecosystem, 5miles, makes money as a marketplace operator, with revenue from advertising and services provided to its network of merchants and buyers. 

Nov 6, 8:47AM EST0

This is a wonderful idea! But in this line:"Imagine a world in which consumers can buy and sell products among themselves with the same confidence and certainty as they would from Amazon or Walmart."Have you given emphasis on the cybersecurity of the people who'll join the network?PS: What is "blockchain protocol" in layman's term?

Nov 5, 6:07PM EST0

Our blockchain protocol would be a new chain that integrates middleware enterprise software to run applications, with a “virtual machine” that is layered into the chain to make sure the information is synced up across the network.

Unlike a lot of other existing blockchains, our aim is to optimize our “software stack” for e-commerce applications, and create modules that are standardized and replicable across the entire network, across different platforms. 

Nov 6, 8:49AM EST0

How will you market CyberMiles?

Nov 5, 6:04PM EST0

We are focused foremost on building a community of current and interested participants who want to be a part of a new era for e-commerce. (We also are seeking out to thought leaders in the blockchain community, as well as industry leaders and influencers in different geographies to work to expand CyberMiles into their markets.)

Nov 6, 8:55AM EST0

Cyber security is a huge issue with blockchain, what steps are you taking in that direction?

Nov 5, 6:03PM EST0

Because CyberMiles will be jump-started with millions of registered users coming from 5miles, we will have many more nodes on our network than a typical block chain. As a result, it will be much harder to hack because our information and processes would be decentralized across the entire network of nodes.

Nov 6, 8:56AM EST0

Since you are going to be competing with Amazon, do you think they will have an issue with that?

Nov 5, 6:02PM EST0

Amazon is an empire that was built on centralization, from procurement, logistics, customer service, marketing—everything. It works well for certain products, but less well for others, and also comes at a cost. Their approach benefits the largest companies that have the scale to work with them.

CyberMiles’ mission is to decentralize e-commerce, so that it works for the community of sellers and buyers—not just for the biggest players. As we grow, we either will be complementary to Amazon, but also may be competing in certain areas using a very different approach.

Nov 6, 8:59AM EST0
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