Going the Extra Mile (December 2019)
Welcome to the CyberMiles Foundation’s monthly newsletter #24
Dec. 4, 2019
Seasons greetings, CyberMilers. A beta version of our latest dapp, a new strategic alliance, a CMT Cube giveaway and quarterly token release. Read on for these and more blockchain and cryptocurrency news.
Announcements
CyberMiles releases beta version of new decentralized marketplace, OpenBay
In a milestone development, a suite of decentralized e-commerce applications has been built on CyberMiles’ public blockchain. Called OpenBay, this purely blockchain-based marketplace is designed to be equitable, censorship-resistant, and privacy-preserving. In fact, every product now or to be listed is enabled via smart contracts. Buying or selling an item on OpenBay is easy with CyberMiles’ recently updated mobile app, or you also can simply install the Venus extension on your Chrome brower. Visit openbay.io to learn more.
Second State, a CyberMiles-backed blockchain startup, to foster technology solutions with the Krypital Group
Second State, a VC-funded blockchain company incubated by the CyberMiles Foundation, recently announced an alliance with the Krypital Group, which specializes in comprehensive blockchain marketing services. This strategic partnership aims to help traditional companies utilize blockchain solutions. Read more about it at medium.com.
Attention CyberMiles Token holders: Q4 CMT release
The CyberMiles Foundation, which holds a reserve of 200 million CMT, is set to unlock 10% of it (i.e. 20 million CMT) on Dec. 5. This is in accordance with the project white paper that has planned out an orderly, quarterly release on behalf of CyberMiles’ team and partners, including 5miles.
CyberMiles (address: 0x1a14Ec3003C943a0624C7c513D502559c8b1b041) welcomes the supervision of any and all. Learn more at blog.cybermiles.io.
The CyberMiles team gives thanks with a CMT Cube mega giveaway
2020 is just around the corner, so in the final stretch of this year we’re giving away 15 CMT cubes — three each week for three weeks. Sponsored by SSSNodes, one of CyberMiles’ valued super nodes, this “lucky draw” is made possible via our FairPlay dapp. Go to fairplaydapp.com in order to participate.
Thanks and best of luck!
In the News
Facebook Libra vs. data privacy
Facebook’s ambitious plan to operate its own digital currency has garnered plenty of scrutiny from within the international banking system, as well as response from global policymakers. In fact, per the organization that represents the world’s central banks, a central concern is the privacy of financial information, which calls into question Facebook’s credibility of managing a digital currency.
Why? Well, due in part to last year’s Cambridge Analytica scandal, which exposed the data of 87 million users, Facebook does not have a positive track record of securing users’ data and privacy. How critical is the concern about user data? Do the pros of a Libra-type offering outweigh the cons?
According to CyberMiles’ co-founder, Dr. Michael Yuan:
The key measure of success is whether it can help the poor and unbanked integrate into the world’s financial system. Libra coin now wants to become the electronic cash, yet it is not truly peer-to-peer; it’s governed by a coalition of businesses and governments. Nor does it necessarily alleviate privacy concerns, even though the beauty of a distributed ledger technology like blockchain is that decentralization (and encryption) are better for data protection.
Read more insights from Dr. Yuan and other experts at fintechzoom.com.
What’s are the challenges to blockchain adoption in payments? CyberMiles’ co-founder weighs in
Along with stronger information security, mobile payments are becoming more mainstream in both developed countries and emerging economies. According to Dr. Lucas Lu, CyberMiles’ co-founder:
Globally, many consumers still don’t have credit, [but] the concept of ‘stable coins’ (i.e. fiat-tethered digital currencies) may bridge that cap and introduce e-commerce to more people in more markets.
Though Bitcoin was conceived as “a peer-to-peer electronic cash system” originally, today it is primarily a store of value — i.e. digital gold. That Bitcoin is out of reach of most of the world’s poor is largely why it has not succeeded as a payment system. According to Dr. Lu:
Newer developments (such as Facebook’s Libra coin) have led to a burgeoning ‘arms race’ to become the electronic cash of tomorrow. Regardless of who — or rather what — wins out, can the poor and unbanked be helped to integrate into the world’s financial system? That will be the key measure of success.
To read more about stable coins and other futuristic solutions in the payments space, visit coinratecap.com and disruptordaily.com.
What’s the future of blockchain in agriculture? Crypto experts share their insights
Did you know that blockchain-powered food tracking could minimize the spread of potentially lethal foodborne illness? Or that it could give farmers greater oversight into their crops and livestock than they’ve ever had? According to CyberMiles’ Dr. Michael Yuan:
When blockchain was introduced more than 10 years ago, the idea was to be a cryptocurrency for today’s global decentralized economy. Over time, however, improvements in blockchain technology have led to innovations such as better inventory management. Just as data files can be transferred more easily, blockchain can be used for food production, processing and shipping in the marketplace. Not only will this create a more efficient supply chain, it will have ancillary benefits that promise to affect our everyday life.
Read more about the potential of blockchain for the agriculture industry of the future at disruptordaily.com.
San Francisco Blockchain Week: AMA with the chief scientist of CyberMiles
DLive.tv hosted an AMA session with Dr. Michael Yuan, CyberMiles’ co-founder and chief scientist (as well as current CEO of Second State), during the 2019 San Francisco Blockchain Week.
Second State provides the toolchain and execution engines for next-gen software services based on WASM. It’s integrated developer tools have engaged over 1000 new developers. Second State partners with Ethereum, Ethereum Classic and CyberMiles to support decentralized software services on public blockchains. [Additionally, Second State] partners with Qualcomm to embed WASM into chips for more efficient data center-based software services.
View a clip of the AMA on YouTube.
The Crypto Countdown
- Australia’s Gold Mint Is Backing a Crypto Token Based on Ethereum (Source: CoinDesk)
- Brave Browser Becoming Increasingly Popular in Spain, Overtakes Firefox (Source: CryptoSlate)
- Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban (Source: CoinTelegraph)
- Coinbase’s Crypto Visa Debit Card Adds Support for XRP, Four More Coins (Source: The Block)
- Government of Uzbekistan Triples Tax on Electricity for Crypto Miners (Source: CoinTelegraph)
- Hackers Demand $14 Million in Bitcoin to Unlock Systems for Hundreds of Nursing Homes Across the U.S. (Source: The Next Web)
- The IRS Issued Its First Cryptocurrency Tax Guidance in Five Years (Source: CoinDesk)
- Marshall Islands Official Explains National Crypto With Fixed Supply (Source: CoinTelegraph)
- North Korea Purportedly Building Its Own Bitcoin (Source: Vice)
- One of China’s Big Four Banks Talk Bitcoin (Source: CoinTelegraph)
- Robinhood Pulls Bank Charter Application as Fintechs Face Hurdles to Disrupting Financial System (Source: CNBC)
- SEC Halts Telegram’s $1.7 Billion ICO, Leading TON Investors to Vote Against a Refund (Source: The Block, CoinTelegraph)
- South Korea Pushes Bill to Provide Legal Foundation for Cryptocurrency (Source: CoinTelegraph)
- UNICEF Launches Cryptocurrency Fund to Back Open Source Technology (Source: CoinDesk)
- Wells Fargo to Pilot Dollar-Linked Stablecoin for Internal Settlement (Source: CoinDesk)
- YouTuber With 1+ Billion Views Won’t Stop Tweeting About Bitcoin (Source: The Daily Hodl)
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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