RepuX to Offer an Integrated Protocol for Data Monetization
Since the raise of Bitcoin, the crypto world has been busy with various developments. The new concept of cryptocurrency does indeed attract the masses for a myriad of reasons. From enhancing security and transparency to improving aspects of online interaction and the way we do online business. Businesses have started to embrace the wind of change, and are slowly adopting the Blockchain technology.
RepuX is one of the latest businesses that come forward in the recent years, bringing new colours to business. The company carries a unique concept built on the latest Blockchain technology. Allowing data sharing, RepuX also offers opportunities to data collectors, data users, and application developers.
RepuX Protocol, the one-of-a-kind protocol level framework built by the company, is a combination of various decentralized technologies. The protocol framework allows high variety immutable data to be exchanged and commoditized among individual users, collectors and even developers. With the RepuX Protocol development, the company relies on big data, machine learning, as well as artificial intelligence.
Its decentralized technologies, namely Ethereum4, Sia3, EOS5, and InterPlanetary File System (or IPFS)2 are clearly capable of facilitating the activity. With such combination, data producers are able to add value to their data possession without having to rely on intermediaries. With RepuX tokens as it’s cryptocurrency, data producers may get compensation for their service. More on this later.
Role and importance of the platform
When topic regarding Big data comes up, many may not know of its importance – let alone its role in business. Comprises of a large amount of datasets collected from day-to-day business operations, not all of them are beneficial for business. Data such as medical diagnoses and others unrelated directly to the operation of a business in question are typically discarded.
But why discard the datasets when data collectors have the opportunity to monetize the information they don’t need? Just because both businesses or organizations don’t need to be said data and information, does not mean others cannot benefit from them. This is exactly what RepuX Protocol is for. It gives ways for collectors to reach individuals and companies that potentially benefit from otherwise discarded data.
Initially designed to be an integrated infrastructure at a protocol level. With multiple applications under its belt, it offers multiple potential opportunities of its own. The first thing that may catch your attention is the ability to use RepuX Protocol and build a third-party upon it. Below are a few potential users you may get from RepuX Protocol.
- Archival database
- Online content and advertising
- International trade and e-commerce
- Electronic point of sale
- Credit scoring
RepuX tokens and its uses
The company is set to release 500-million RepuX tokens on its first initial coin offering. For the first ICO, RepuX is set to make the offer available restricted to accredited investors before making it broadly available through Token Sale. There are myriad uses and benefits from the tokens as seen in the following section:
- Data sales and purchases
- To apply reputation, helping users evaluate others and determine trustworthiness in business
- To run the Oracle Network
- To build third-party applications upon the RepuX Protocol network.
To get involved in its first crypto coin sale offering, visit https://repux.io/.
Team & Advisors
- Marcin Welner – Management Team
- Aleksandra Staszewska – Product Team
- Tomasz Tybon – Management Team
- Daniel Kmak – Dev Team
- Przemysław Kocznur – Dev Team
- Krzysztof Durałek – Dev Team
- Dawid Rashid – Dev Team
- Taras Bazyshyn – Dev Team
- Rafał Książek – Dev Team
- Damian Babula – Dev Team
- Pierre Benezech – Dev Team
- Raghu N. Chakravartula – Dev Team
- Dr Jay Best – Advisor Team
- Mateusz Mach – Advisor Team
- Yagub Rahimov – Advisor Team
- Douglas Pike – Advisor Team
- Justin Jovanovic – Advisor Team
this original article was written by cryptosweet