RepuX is described as the protocol or etiquette level framework on which different developers, individual collectors, and corporate users can commoditize and exchange a variety of immutable data. This medium of exchange allows for value creation and data sharing opportunities among data users, application developers, and data collectors, which are not available in the current marketplace, by facilitating the transfer of data and value between peers.
As a digital framework, RepuX, connected with Sia, and EOS among others, is not the typical blockchain. RepuX has goals that are based on the usage of data across the world today. In 2015, data was used worldwide at a clip of 10 trillion gigabytes for the entire year. It is expected that the world will use over 180 trillion gigabytes in the year 2025. With this massive increase in data usage, RepuX hopes to create a system which moves money quickly, yet safely across the platform. The reputation they hope to pursue is one that is built on its currency, the RepuX Token. Furthermore, RepuX will not only help with digital exchanges, but also by working to create new and helpful applications that will make the technological world more efficient.
1. With the RepuX Protocol, the RepuX Marketplace lets three types of market participants be harmonized and exchange data.
2. Businesses or organizations holding huge datasets for their industrial sectors are given the opportunity to anonymize data into diverse kinds of packages, determine the pricing in the RepuX tokens they prefer to collect for their data, before they make them available for sale to developers or individuals.
3. Data users within the same sector like those in the area of product development or academic research can use the platform to gain access to a lot of datasets. These will contain the information about the organization clearly provided, allowing them to determine the reliability of the data source, and clear information concerning the given data before acquisition.
4. Users can then grade the data after buying, allowing successive buyers to be adequately informed. As soon as a user has bought a dataset, it is securely transferred to them through the RepuX protocol, allowing them to start working with the data immediately.
5. Third-party or intermediary developers can build decentralized apps on the protocol in addition to data users and data providers. As a result, they will be able to visualize, aggregate and present data from one solitary data source, or mix data from numerous data sources. This gives room for the emergence of new applications, which can then be sold to end users and companies.
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Conclusion
One specific way RepuX is working towards this involves machine learning. In today’s world, machine learning only happens when industries have the money to integrate and upgrade their equipment. Then, machine learning can build upon data of the past, only growing in better knowledge and understanding. RepuX believes they can bridge the divide between those who have the means for machine learning and those who are out of the loop, primarily with a cheaper, yet effective option. Ultimately, RepuX wants to be known as a reputable option for businesses across the world. Through transparency and a legacy built on trust, they believe they will be able to accomplish the goals of the future to better blockchains across the digital world.
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