Repux is a decentralized data and applications protocol for small and medium-sized enterprises (SMEs). Find out how it works today in our review.
What Is RepuX?
RepuX, found online at Repux.io, aims to solve a big problem for SMEs: enterprises have terabytes of data stored within their systems, but they have trouble using this data for better business decisions. Developers, meanwhile, lack the data they need to develop machine learning solutions. RepuX wants to create a marketplace where these parties can interact with one another.
RepuX is a platform where various types of corporate and user data can be monetized and exchanged between different parties. It combines multiple decentralized technologies like IPFS, Sia, and Ethereum/EOS, with the end result being a highly decentralized marketplace for data and information.
The token sale for REPUX tokens is underway until March 2018.
How Does RepuX Work?
RepuX will use an API that allows marketplaces to be created by third parties. These third parties can create marketplaces that suit their specific niche. RepuX allows the creation of various business to business (B2B) data sharing possibilities for excess user and corporate data – a solution that does not exist in the current marketplace.
The ecosystem revolves around the use of RepuX tokens, which will eliminate the need for middlemen and intermediaries across multiple industries.
Participants in the RepuX marketplace will have an optional reputation system. That reputation is verified by an oracle system, which checks previous transactions from participants.
Developers will interact with the RepuX marketplace by purchasing and receiving access to company data in a secure way. Developers can use this data to create decentralized applications. Developers will be able to access data through a RESTful API. They’ll be able to preview data, subscribe to it, and choose specific companies or industries.
The end result is that RepuX solves a crucial problem in the AI industry: today, there’s a “digital divide” between those who have easy access to machine learning datasets and those who do not. This is concentrating AI development in the hands of an elite few – including corporations with access to enormous datasets. RepuX wants to solve this problem by creating a transparent, competitive marketplace for data.
Use Cases For RepuX
Like many blockchain platforms, RepuX can be adapted for use across a variety of industries. Some of the potential opportunities for RepuX tokens include:
RepuX can be used to connect data stored in archival databases. The RepuX whitepaper gives an example of the Smithsonian museum, which has a large database of archival materials collected over decades. It’s difficult for buyers to find this data. The Smithsonian could license the data to individual companies that specialize in museums. Or, better yet, they can use RepuX to upload their aggregated, anonymous data to a decentralized network of potential clients.
The growth of machine learning isn’t slowing down. The RepuX protocol could assist companies in matching data purchasers with data collectors.
Advertising And Online Content:
RepuX could enhance the freemium model. Third party application developers can create programs that collect data from users. Users might voluntarily download a software program that collects anonymous data about their habits, for example, and then earn money by selling that data through the RepuX protocol.
Ecommerce And International Trade:
RepuX can add a trust and review system to each transaction, which can be useful for companies engaged in international trade.
Credit scoring is based on determining the financial reputation of an individual over a long period of time. The RepuX protocol can be used to build a reputation for an individual over time. That reputation could be based on the transactions that individual has made.
Electronic Point Of Sale (EPOS):
The RepuX protocol could be used as part of an EPOS system, in which case every transaction is recorded on the blockchain, publicly visible, and acts as an immutable accounting registry.
Lenders can use the RepuX protocol to establish credit history, facilitating micro loans.
A drug maker might use RepuX to conduct market research before selling a drug. The drug maker could access anonymized patient data from a hospital, for example.
The RepuX ICO
RepuX’s ICO began with a pre-sale on November 17. The pre-sale is scheduled to last until January 23, 2018.
The main token sale is scheduled for February 6 to March 9, 2018.
There’s a total supply of 100,000,000 REPUX tokens. 20% of tokens are allocated for the pre-sale. 30% are reserved for the ICO. The remaining tokens are split between the rewards pool (10%), founding team (12%, with a 3 year vesting period), ambassadors (3%), and ICO bounties (2%). The final portion will be sold on the platform (23%).
RepuX has set a hard cap of $33.1 million USD for the token sale. All tokens will be distributed to investors on April 10, 2018.
Tokens are priced at a rate of $0.10 during the pre-sale, rising to $0.14 to $20 during the main crowdsale.
Who’s Behind RepuX?
RepuX is being developed by a team of 14+ people who have decades of experience in software development and enterprise software sales. The company has already signed deals with developers who have potential access to millions of SMBs within China.
Key members of the team include Marcin Welner (Management Team), Aleksandra Staszewska (Product Team), and Tomasz Tybon (Management Team).
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 token sale for RepuX is ongoing until March 2018. To learn more about the project, visit online today at Repux.io.