Going the Extra Mile (April 2019)
Welcome to the CyberMiles Foundation’s monthly newsletter #16
April 1, 2019
Anew season, and new developments. The CyberMiles team most recently has developed a web browser add-on, an enhanced version of our wallet, and a new way to get CMT, all while promoting blockchain technology and entrepreneurship in the community. Read on for more, along with blockchain and cryptocurrency news.
Announcements
CyberMiles brings the public blockchain to your web browser
What is Venus? It’s an extension for accessing CyberMiles-enabled distributed or decentralized applications (“DApps”) in your Chrome browser. What Venus does is inject the CyberMiles web3 API into every website’s javascript context, meaning DApps can read from the blockchain.
Venus includes a secure-identity vault, providing a user interface to manage your identities on different sites and sign blockchain transactions.
You can install the Venus add-on in Chrome browser. If you’re a developer, you can start developing with Venus today. Learn more at cybermiles.io.
Limitless exchange? Introducing a new way to get CMT
Did you know that it’s now easier than ever to get CyberMiles Tokens (CMT) with fiat currency? ChangeNOW, a non-custodial exchange service for fast, limitless coin conversions, is making that happen.
In fact, changenow.io even provides a handy video guide on exchanging CMT in just a few simple steps — account-free, worry-free, and faster than ever! Check it out on YouTube.
CyberMiles releases a new update to the CMT Wallet
Version 2.5 of the CMT Wallet is now available to download. Why should you update to your wallet to the new version?
- Transfer: Support for saved addresses
- SDK: Optimization for easier implementation of “DApps”
- Plus, bug fixes and stability improvements
Download it today via cybermiles.io.
5miles and NBA star, Dwight Powell, team up for the Venture Entrepreneurial Expedition Business Pitch competition
5miles.com, the popular peer-to-peer marketplace that currently is migrating to the CyberMiles blockchain, is supporting entrepreneurship where — and when — it counts: at a local level, and at a young age.
Sponsored by 5miles and Everfi, the Dallas Mavericks’ education technology partner, the Venture Entrepreneurial Expedition Business Pitch Competition brought together five teams of middle school students who are aspiring to be the business leaders of tomorrow. These young entrepreneurs pitched a host of their best and brightest new ideas to guest judges, including Mavs center Dwight Powell as well as Cynthia Marshall, the team’s CEO, who noted:
I think our future is in good hands with young people like this. They dream big, and I encourage them to continue dreaming big.
Learn more about the program and this year’s event at mavs.com.
In the News
What’s the state of blockchain in energy? Retail? CyberMiles’ co-founders weigh in
A market research analyst with Distributor Daily asked Drs. Lucas Lu and Michael Yuan, co-founders of The CyberMiles Foundation, both to weigh in on the state of blockchain in a number of massive, global industries, including energy and retail. According to Dr. Lu:
Blockchain is moving from just another IT solution to an ecosystem builder.
Consider Bitcoin as blockchain 1.0, and Ethereum as blockchain 2.0, we’re now on to blockchain 3.0, which can realize — and improve upon — the promise of the Ethereum network. That network, as it has gained popularity, has become too slow (transactions per second) and prohibitively expensive (gas fees).
On the world-changing potential of blockchain to disrupt (in a positive way) electricity production, Dr. Yuan added:
There are a handful of ambitious projects (ex. Eloncity) aiming to decentralize the electrical grid infrastructure and energy monopolies, replacing them with a hierarchy of blockchain-enabled microgrids. Such microgrids will allow communities to store, trade, and consume locally-generated renewable energy.
It’s been 150+ years since the first modern solar power plant was established in Algiers. Will blockchain technology lead to a more effective harnessing of the sun’s energy? Better supply chain and inventory management? Read more energy and retail industry insights at disruptordaily.com.
Trends analysis: Why cryptocurrency may be hugely important for e-commerce
Cryptocurrency, notably Bitcoin, may raise more eyebrows than excited grins these days, but we know not to be fooled by the price volatility of crypto. Why? Because the promise of what crypto — and the blockchain technology behind it — can do for the entire e-commerce sector remains so compelling.
For many companies, Bitcoin simply represents a system that facilitates the movement of money with comparatively low transaction costs. Mark Brinkerhoff at CyberMiles notes that payment processor BitPay takes just one percent per crypto transaction. Many credit card processors take two percent or more.
Because Bitcoin acts as both a currency and a payment network, it can facilitate cross-border trade. Payment localization is suddenly a matter of adding crypto as a payment option, and there is no national entity to which you must remit a currency. From a user experience perspective, too, it always helps to offer multiple payment options in your shop.
Learn more of the upsides and downsides of crypto for e-commerce brands at scalefast.com.
Blockchain and AI combined solve problems inherent in each
Blockchain can be used to democratize access to big data, as well as make artificial intelligence breakthroughs the province of many — not just a handful of tech giants.
While data stored on the blockchain can be encrypted, not all of it can — or should — be stored publicly. According to Dr. Lucas Lu, CyberMiles’ co-founder:
Confidential data should be stored off-chain in databases, while their cryptographic hash and public keys are available on the blockchain for the public to check.
Using blockchain for A.I. comes down to what A.I. you need, and how you can acquire data. Personal data is becoming more valuable every passing day — that’s why we’re seeing so many data breaches. Blockchain, however, offers a secure way to guarantee ownership of data — and where data goes, A.I. will follow.
Read more insights via TechTarget’s SearchCIO.
Blockchain vs. database: How are they different?
According to Coin Bureau’s Steve Walters, many people still are confused about the differences — and similarities — between traditional databases, as well as the more recent blockchains.
A likely source of that confusion stems from the fact that a blockchain is a type of database since it’s used to store information in “block” data structures. Conversely, a traditional database also stores information but does so in “table” data structures.
Simply put, the two are not interchangeable because although both are used to store information, they’re different in design and purpose. Understanding this fundamental difference makes it possible to appreciate why blockchains are necessary — and why databases are better suited for certain data storage.
Head over to coinbureau.com to learn more.
The Crypto Countdown
- 130-Year-Old Liquor Company to Track Whiskey on Blockchain (Source: CoinTelegraph)
- Accepting Bitcoin Could Create a Grande Headache at Starbucks (Source: MarketWatch)
- Binance CEO CZ Hints at Creation of Fiat-to-Crypto Exchange in Argentina (Source: ICO Bench)
- Bitcoin (฿) Symbol Now the First Currency on Google Keyboard (Source: Coingape)
- Blockchain Advocacy Coalition Sponsors Virtual Currency Payments Bill for California Cannabis Taxes (Source: BlockchainWire)
- Does Venezuela’s Cryptocurrency Represent a Problem for the Industry? Meanwhile, Possible U.S. Sanctions on Visa and Mastercard in Venezuela Highlight Need for Decentralized Money (Sources: Medium, DashNews)
- Facebook and Telegram Are Hoping to Succeed Where Bitcoin Failed (Source: The New York Times)
- MercadoLibre Dumps Crypto Days after PayPal’s $750 Million Investment (Source: CCN)
- North Korean Dissidents Sell Ethereum-Based Post-Liberation Visas (Source: CoinTelegraph)
- Payment Service Square Is Hiring Crypto Engineers, Offers Salaries in Bitcoin (Source: CoinTelegraph)
- Samsung’s Galaxy S10 Model Includes DApps for Gaming, Payments and Social Media (Source: Coingape)
- Switzerland’s Largest Retailer Begins Accepting Bitcoin (Source: Chepicap)
- Yahoo, Rakuten Continue Mainstream Progression Towards Cryptocurrency (Source: Coingape)
Thanks for your support, CyberMilers! Help us spread the word, won’t you? — Mark Brinkerhoff, Community Manager
Mark Brinkerhoff, a CyberMiles advisor and VP of Communications at 5miles, writes about the mainstreaming of emerging technology in business.
Have questions? Anything that you want to see included in our next newsletter? Email mark@cybermiles.io.
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