Going the Extra Mile (May 2019)
Welcome to the CyberMiles Foundation’s monthly newsletter #17
May 3, 2019
Athird of the way into the year, and do we have a slew of promising news and updates you, our CyberMiles community — from a Global Excellence honor, to a CMT stable coin and 5miles “Dapp” progress report. Read on for more, along with blockchain and cryptocurrency news.
Announcements
CyberMiles named Best Blockchain-Based E-Commerce Solution of the Year
Acquisition International, the voice of modern business, has announced its 2019 Global Excellence Awards, including the Best Blockchain-Based E-Commerce Platform this year, which has been awarded to CyberMiles.
A.I. magazine handpicks the 2019 Global Excellence recipients based on “comprehensive analysis and research undertaken by the wider group.” Candidates are selected “purely on merit — not popularity — and recognize the very best in business,” those who “are succeeding in their endeavors, innovating, growing, and improving.”
Learn more about A.I.’s awards programs and this year’s winners at acq-intl.com/acq-awards.
5miles Dapp update
Earlier this year we announced that migration of the 5miles marketplace to CyberMiles’ blockchain had begun. The move, which will decentralize 5miles’ e-commerce, is a significant step in CyberMiles’ mission to decentralize — and democratize — the $1 trillion global e-commerce industry as we know it today.
Once the migration of 5miles’ product information and users reviews into a CyberMiles smart contract is complete, a web-based Dapp will be created to allow users easy access to information. The CyberMiles public blockchain ensures e-commerce data integrity, accuracy and transparency. More to come!
On the heels of Blocktonic, CyberMiles gears up to launch a new decentralized C2C marketplace
In addition to the 5miles Dapp, CyberMiles is expanding its ecosystem of decentralized marketplaces with a brand new one that is now in the works. Similar to but broader in scope that its B2C equivalent, Blocktonic, the first cryptocurrency-only online marketplace which CyberMiles launched last year, this forthcoming C2C marketplace will enable consumers worldwide to transact with one another and earn cryptocurrency, minus listing fees. (ETA: summer 2019.)
Coming soon: CMT stable coin
Tied to the upcoming decentralized C2C marketplace, CyberMiles is planning to introduce a CyberMiles Token (CMT)-derived stable coin that shoppers worldwide will be able to use to buy and sell items across our ecosystem, including on 5miles and Blocktonic. (ETA: summer 2019)
In the News
What’s the future of blockchain in energy? CyberMiles’ co-founder forecasts a global (r)evolution
Distributor Daily continues its analyses of energy and other industries that are ripe for decentralization. Blockchain technology is poised to be, for example, a potent asset in the fight against environmental degradation due to non-renewable energy sources. According to Dr. Michael Yuan, chief scientist of The CyberMiles Foundation:
Plasma, which is aiming to provide a framework to verify arbitrary computing workload [is the future]. This is much harder to achieve with efficiency, but could be much more useful. It also further allows smart contracts on the main blockchain to spin off child blockchains, known as side chains. The side chains can be nested, creating a hierarchy of side chains that represent microgrids at different levels.
That this may directly facilitate further adoption of renewable energy sources, Dr. Yuan added:
The more we know about energy-related transactions, the more we can develop automated checks, and hence reduce the need for complex cryptoeconomic games. A win-win.
Will blockchain technology disrupt energy trading, carbon credit issuance, and emissions reporting? Read more expert insights at disruptordaily.com.
What are the top benefits of blockchain in banking? Our expert shares his insights
Certain trends in finance won’t change. Markets will rise and fall, for example. Money will change hands, loans will be issued, and interest will be paid. But trends evolve, which a Market Research Analyst for Front Lines Media addresses head on:
Read more of Dr. Yuan’s insights and predictions of blockchain in banking at movo.cash.
CyberMiles’ co-founder talks blockchain and ETFs
Speaking of Dr. Yuan, BlockPublisher recently interviewed CyberMiles’ co-founder about cryptoeconomics, namely the intrinsic value of Bitcoin vis-à-vis the first law of economics.
Neither Bitcoin or any other cryptocurrency (such as Ripple) is currently used as an everyday currency because they’re treated as a ‘store of value’ vs. a true utility token to pay for everyday goods and services. Crypto’s volatility today makes ‘stable coins,’ which are tethered to fiat currency, a best bet.
Also thwarting the mass adoption of Bitcoin are scalability issues as well as the lack of regulations, which may inhibit general public trust in it. Nevertheless the upside potential looms large, as Dr. Yuan is quick to note.
While eliminating physical and virtual barriers, a less volatile, more utilitarian cryptocurrency may spell the potential end to currency exchanges, manipulation, etc. There’s so much promise yet to be realized.
Cryptocurrency promises to change the commercial and financial markets forever. It’s the disruptive capability of Bitcoin — its inherent intrinsic value — that soon may make crypto the go-to currency of the future.
Read more at blockpublisher.com.
ICYMI: What is the CyberMiles network? A crypto briefing
Crypto Briefing recently delved into CyberMiles as part of an ongoing analysis of today’s most promising crypto projects. With several dApps already built on its platform, including a browser-based identity vault (MetaMask for CMT), a security token launchpad, and a payment gateway, the future looks bright for CyberMiles.
The Crypto Countdown
- Australia Announces National Blockchain Roadmap and Further Boost to Government Funding (Source: ICO Bench)
- The Bitcoin Bank Is Back from the Dead — with Billions at Stake (Source: The Daily Beast)
- Crypto Can Provide Fair Financial Infrastructure for Poor People, President of Y Combinator Believes (Source: Coingape)
- Does Venezuela’s Cryptocurrency Represent a Problem for the Industry? (Source: Medium)
- Elon Musk: ‘Paper Money Is Going Away’ (Source: CNBC)
- ‘Ethereum is Not a Security’, Said the Pied Piper of Hamelin (Source: Coingape)
- Inside the Jordan Refugee Camp That Runs on Blockchain (Source: MIT Technology Review)
- Jaguar Land Rover Begins Testing Crypto Reward System for Customers (Source: CryptoCoin.News)
- Large Banks Refuse to Bank Crypto, Firms Struggling to Open Accounts (Source: Coingape)
- The New York Times Posts, Then Removes, “Blockchain Exploration” Job Listing (Source: CoinTelegraph)
- SEC, CFTC Set to Collaborate on Regulating Bitcoin ETFs, Other Investment Products (Source: Coingape)
- Tennis Star Serena Williams Bets on Crypto with Coinbase Investment (Source: Coingape)
- Twitter CEO Alludes to Spending $10,000 a Week on Bitcoin (Source: CoinTelegraph)
- Ukraine’s Capital Kiev Soon May Accept Bitcoin for Public Transport (Source: Bitcoinist)
- In Venezuela, Cryptocurrency Is Both an Oppressor and a Lifeline (Source: PC Mag)
- Why Technology’s Early Adopters Are Opting Out (Source: Medium)
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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