This review will present the RepuX platform and what is has to offer. It particularly pertains to potential users from the small and medium-sized enterprise sector.
It is a well-known fact that management of big data is a big issue for SMEs. Especially data management that can translate and evolve into informing their day-to-day business. At the same time, developers often have no sufficient data to improve their efforts regarding machine learning and AI. Just as a side note: these are issues that major companies dealing with big data as their bread and butter have a much easier time tackling.
Against this backdrop: enter RepuX. This company seeks to create a network in which user and corporate data can link together and be exchanged and monetized. The key word in their model is decentralization. To create such a market, RepuX uses blockchain models such as Ethereum/EOS, Sia and IPFS.
The RepuX protocol uses an API which enables third parties to create marketplaces. Furthermore, the platform opens up a series of possibilities in terms of creating business-to-business data sharing.
The only currency involved will be the RepuX token. That way, the company intends to achieve linking various industries, without requiring intermediaries and remaining decentralized.
Another important factor is the system with which RepuX intends to maintain a sound reputation assessment of its marketplace. Namely, every trade made in the protocol will be attached with a rating and reputation. Using the Oracle system, every transaction will be subject of scrutiny and checking previous transactions before application. This method promises to keep potential fraud at a minimum.
The secure nature of the platform hopes to involve developers in the marketplace. They would then purchase data from the business sector and use it to create applications.
As a result, RepuX seeks to address the "digital divide" we experience today and help lead to a more equitable access to machine learning datasets.
Thanks to its versatility and the blockchain-based platform, RepuX is adaptable and usable in a variety of ways. You can also read about them in more detail in the company's white paper.
Managing data stored in archival databases. For instance, using the RepuX platform, large museum institutions which have stored enormous amounts of various data could gain access to a bigger market and monetize this data in a more profitable way. Individuals and businesses seeking such data could use the RepuX protocol as a means of safe payment to the museum.
Big Data: there is a number of machine learning companies with insufficient resources. They could profit by using the RepuX network as means to link with reputable data collectors.
Advertising: RepuX could have a wide application in enhancing the freemium model. It can be used to help create a link between advertisers and users willing to sell their anonymized behavioral data.
E-commerce and trade: the platform can help traders operate in a safer, more reliable environment, thanks to its reputation-based system.
Credit scoring: with the aforementioned system, RepuX can also serve as a reputation-building tool for individuals and help determine one's credit score.
Other potential avenues of implementing RepuX include micro loans, medical records and EPOS (Electronic Point of Sale).
The RepuX Initial Coin Offering started in form of a November 2017 pre-sale, which is still ongoing. Following it, the main token sale will take place in March 2018.
During the pre-sale, the tokens cost $0.10 apiece. This price will rise during the main sale and amount to $0.14 - $20. The token sale was hard-capped at $33.1 million, and on April 10 2018 all tokens are to be distributed to the investors. The overall supply of the RepuX tokens amounts to 100 million. Out of that number, 30% will be sold during the ICO.
The team behind this company consists of a core group of 15 persons with plenty of experience in different fields. It includes programmers, software developers, engineers, business analysts, as well as cryptocurrency, blockchain and machine learning experts.
RepuX offers a transparent, competitive data marketplace. It mainly aims to bridge the gap between big data and SMEs. By doing so, it enables the latter to share their data with developers, creating a two-way street.
It provides new possibilities of data monetization, as well as reliability by implementing blockchain technology.
For more on this company, you can also visit their website at Repux.io.