Search  Follow Investorideas on Twitter  Investorideas is on Facebook  Investorideas is on Google Plus  Investorideas is on Youtube  Investorideas is on Pinterest  Investorideas is on tumblr  Investorideas is on LinkedIn  Investorideas RSS 

Investorideas podcasts on iTunes, Google Play Music and potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts crypto corner    Play by Play – the latest sports headlines and sports stock news


Join Investor Ideas Members to access the Renewable Energy stocks directory, water stocks, biotech stocks, defense stocks directories and the Insiders Corner

5miles Opens New #Blockchain Technology Lab, 5xlab

Dallas-based mobile technology startup seeks to develop and implement the first real-world blockchain solution in the peer-to-peer marketplace space


DALLAS - August 29, 2017 ( newswire) 5miles, the leading mobile marketplace in the U.S., has announced the formation of 5xlab, a blockchain lab that will offer technology development services for building a new digital network infrastructure. Similar to Ethereum, a public, open-source, blockchain-based distributed computing platform, the forthcoming network infrastructure will be designed in house by 5xlab's team of engineers.

A new, improved blockchain network infrastructure will make it easier than before for consumers and businesses to transact beyond the traditional Internet—and industry giants that have come to dominate today's ecommerce. The end product is envisioned to be a better, smarter way of digital transactions and marketplace shopping.

"5miles, as a marketplace, connects people and facilitates transactions, on a safe, convenient, trustworthy platform," Dr. Lucas Lu, the company's C.E.O. and founder, said. "The 5xlab is, in its own way, a natural but innovative extension of what we already have built."

The vision for 5xlab is, in short, to:

"Early blockchain technology has yet to eliminate significant barriers for business," Michael Yuan, 5xlab's chief scientist, said. "Our aim is to replace the smart contract technology at the core of Ethereum with a more business-friendly smart business contract."

The first real-world implementation of blockchain technology in the peer-to-peer marketplace space will be released this fall. Spearheading the commercialization of this technology will be leading peer-to-peer marketplace 5miles and subsequent adopters.

As one of the most popular shopping apps for both Android and iOS devices, 5miles has grown into a community of more than 14 million users, facilitating five billion dollars in transactions in 2017. The app is the first of its kind to give users a full-category, hyper-local marketplace experience with access to a variety of goods as well as services, housing and jobs: real items from real people in real time—all within five miles.

For more information about 5miles, visit To contact or learn more about the new 5xlab, go to or email

About 5miles

5miles is a free, local marketplace app, one of the fastest-growing online shopping ventures in the United States. The app is the first of its kind to include services, housing and jobs, in addition to second-hand trading. 5miles launched in January 2015, immediately setting itself apart with an easy-to-use mobile interface, identity verification capabilities (for added safety and security), mobile payment and shipping options, and a hyper-local curation of offerings users can search—all within their very own neighborhoods. Since then, buyers and sellers in every major market coast-to-coast have transacted more than $4 billion in merchandise through 5miles, which Google Play has ranked a top 10 shopping app. Learn more at

App Store:

Google Play:


Mark Brinkerhoff, 817-681-5739

Bitcoin, Blockchain and Digital Currency Stocks and ICO's

Like Bitcoin, Blockchain and Digital Currency Stocks? View our Bitcoin, Blockchain and Digital Currency Stocks Directory

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: Learn more about publishing your news release on the newswire

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Please read privacy policy: