RepuX is launching a decentralized, Ethereum-backed platform for SMEs to upload and sell data to other users on the network. The data will be encrypted and distributed securely across the globe using IPFS. SMEs will be able to sell data to developers who can then use the data to create DAPPS, which can then be sold back to SMEs to grow and scale their businesses. Reputation scores are determined by the purchasers, which keeps the data sellers honest. The RepuX platform forms the foundation for a SME-developer ecosystem wherein all parties benefit from a more transparent and efficient platform for data exchange.
The platform is live and usable
Signed up 3 pilot companies
Ethereum ERC20 standard token.
Attention. There is a risk that unverified members are not actually members of the team
SummaryIn the age where a hundred useless cryptocurrencies are made every year, the ones that hold value are the crypto companies that solve real-world problems. Redux has identified a huge market gap and wants to use blockchain technology to solve it. Once they can fully launch their platform, it has huge potential.Positives Well Recommended: These guys come well-recommended by Harvard business review and The Economist. Innovative Product: Repux can solve real-world problems by selling data to small businesses. Decentralized Marketplace: Right now there are a few large groups who hold a monopoly on all data. Repux can put the power back in the hands of the people. Negatives No Future Goals: According to their Roadmap they have no further plans for 2018 and 2019 Sizing Issues: Are they really going to be able to grow the way that they say are?
Repux is a protocol level framework that allows SMEs to share data with developers. Developers can use data to create machine learning and AI algorithms, while companies can monetize existing data in a secure way. The platform relies on multiple blockchain technologies, including IPFS, Sia, and Ethereum/EOS.
The Economist magazine stated that “data is the new oil.” That’s probably true, and this project is positioning itself as a vital cog in the new data economy.
One might also question the need for a decentralised mode herel. As far as the data itself goes, a centralised model may work just as well. However, the RepuX decentralised model does provide an incentive mechanism to developers to build applications and create an ecosystem around the protocol. That theoretically offers up the ability for this platform to offer some kind of value.
The project is not without its risks, however, as the whitepaper itself points out. It’s difficult to gauge how long it will take for SMEs to get used to the idea of selling data, and its difficult to gauge how big that market will become. To reach critical mass, RepuX will need to create a substantial market.
However, adopting a longer term vision, there is little doubt that machine learning will become an increasingly important part of the economy over the next decade.
It’s also clear that smaller companies will have to leverage the power of big data if they are to compete with large companies like Google and Amazon. RepuX has what looks like a solid plan to position themselves as a vital platform within this space. They will need, however, to address concerns on the marketing side.
Quite like other ICOs, such as Thrive, CREDITS, BunnyToken, Requitix, the RepuX platform is also developed with the goal of helping small and medium sized enterprises to monetize their data by transferring it between different parties includes users, developers, and collectors in a safe and secure manner, by using tokens.
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