CyberMiles, a Dallas, TX-based new blockchain platform designed and optimized for commercial applications, completed the crowd-funding phase of its initial coin offering.
Participants from 111 countries contribute close to $30m.
The company intends to use the funds to build-out its technology.
Led by Dr. Lucas Lu, a founding member of the CyberMiles Foundation as well as the 5miles peer-to-peer marketplace, CyberMiles is a new decentralized blockchain protocol optimized for business transactions. Initiated in the fall of 2017 by 5xlab, a blockchain development laboratory, CyberMiles uses innovative smart business contract modules to facilitate and process transactions effectively and with transparency. This technology focuses on commercial applications with protocols that ensure the appropriate balance between vertical effectiveness and network compatibility.