RepuX: A Decentralized Data-Sharing Solution for SMEs

Introduction

A new and ever-valuable currency dominates today’s market. Its name is data. And in the way today’s market works, the way one handles big data is of the utmost importance.

With this economic trend ongoing and with no sign of slowing down, business ventures at all levels need to adjust. That means utilizing data insight and strategizing around it. However, unlike major corporations with ample resources to do so, this need very much applies to small and medium-sized enterprises. In many cases, SMEs are understandably lagging behind data giants such as Google or Facebook in terms of using their own big data in conducting business.

What is RepuX?

This is where the RepuX startup enters the picture. Namely, they seek to deal with this very issue by linking entities that produce data and those that obtain them. The RepuX protocol level framework serves as a tool to this end. The main goal behind this concept is to address the needs of the many SMEs in their struggle with companies such as Microsoft and Amazon, whose access to datasets is beyond comparison, of course.

How does it work in practice? For instance, if you run as SME, you can sell your anonymized datasets directly to developers. They, in turn, use the data for creating applications utilizing machine learning and AI. Completing the cycle, developers can later sell those intelligent applications to SMEs who can apply them in their overall business strategy and planning.

The fact that the RepuX platform is decentralized and based on blockchain creates a wide palette of options. Namely, it allows for data monetization and exchange, whereby users are able to yield a profit, i.e. rewards.

The decentralized nature of the platform relies on the fact that the buyers are the ones who define and set its reputation score and give pertinent feedback. That way, the encryption-based platform can achieve trust within the P2P network. In the long run, such a model can also do away with potential fraudulent activities.

The team behind RepuX and steps undertaken

The team which created RepuX consists of more than a dozen experienced professionals. Their prior expertise includes programming, business analytics, SaaS, software engineering, etc.

RepuX co-founder and chief growth officer Tomasz Tybon emphasized the fact that the project’s main target group are indeed SMEs. He went on to add that the focus of the operation is creating a decentralized data storage system and platform linking developers and SMEs. RepuX thus aims to enable its users to generate value and profit from their data and to cut out the middleman in this process.

RepuX have developed this concept in June 2017. Not long after, in December 2017, they signed a deal with Chinese inventory management software WorkHQ, in a move aimed to position the newly-created platform as a contender among the vast number of SMEs in the Chinese market.

Next steps

RepuX’ Token Sale is the next step and big move forward. It follows a pre-sale that began in December 2017 and will be active until the main token sale begins in March of 2018.

The sole payment method across the platform will be the RepuX token, an ERC20 token. You can purchase a token using Ether (ETH). The token price ranges from $0.10 (during pre-sale) to $0.14 – $20 during the main token sale.

The hard cap of the RepuX token sale has been set at $33.1 million. Following the main token sale, in April 2018, the tokens will be distributed to investors.

The overall volume of RepuX tokens amounts to 100 million, 20% of which are earmarked for the pre-sale, and 30% for the ICO. The rest of the tokens will go to the rewards pool (10%), founders (12%), ambassadors (3%), and ICO bounties (2%). The company will sell the remaining amount (23%) on the platform.

Conclusion

RepuX provides an interesting and potentially game-changing avenue for SMEs. By using blockchain and several methods such as Ethereum/EOS, IPFS and Sia, it offers a new possibility of data exchange and monetization, in a decentralized way.

To find out more, we suggest you visit the company’s website repux.io and read through its white paper.

SHARE