Repux — Data exchange using blockchain technology

Data has become the most valuable asset beating oil. Data is to this century what oil was to the last one - a driver of growth and change. It’s ever present and every institution needs it. Flows of data have created new infrastructure, new businesses, oligopolies, politics and finally, new economics. Big Data is unlike any previous resource — it’s readily available, extracted, refined, reproduced and bought and sold in different ways. It changes the rules for not just micro markets and it brings anticipation that new regulations will be introduced to control the exchange of data. Some may benefit, some may not.

One firm who are trying to benefit from the emergence of big data is Repux. Repux is a new decentralized platform where various types of immutable data can be commoditised and exchanged between multiple corporate and individual user. RepuX wants to use the potential market created by big data by introducing blockchain technology.
Repux uses multiple decentralised technologies such as IPFS, Sia and Ethereum/EOS helping to create value and data transfers between peers. Repux’s aim is to have data sharing capabilities for individual and corporate user and almost aggregate all data within a market. This direct transfer of data will use the repux token.

Some companies have a lot of data and don’t know what to do with it while developers and machine learning enthusiasts require data to provide AI solutions. This connection will be done by Repux and the transaction of data will be bought and sold using Repux tokens. This direct and rapid value transfer through the RepuX token will eliminate the need for intermediaries — the whole objective of decentralized currencies — across multiple industries. With machine learning, big data and AI becoming more reliant on large-scale aggregate data, Repux wants to use this untapped market and integrate with the blockchain system’s features of privacy and speed of transaction.

RepuX follows 3 steps:
Data is sold by firms and they earn Repux tokens
Developers buy the data with Repux tokens to train Machine Learning algorithms
Developers then re-sell their intelligent applications back to the firms, for better business decision making and improve profitability.

Use Case
RepuX has potential use cases with data stored in archival databases. For example, if a small university search engine has a large database of archival materials that it has collected over decades containing several image data, text data, time data and user data. The search engine could license this data to individual companies that specialize in their respective sector e.g. license data of what users search for to get protein shakes to gym companies or healthcare search results for common symptoms to firms who utilise healthcare data.
RepuX provides a dominant platform to employ in accessing a broader market for the data. By uploading their aggregated and anonymous data into the storage layer (IPFS) of the RepuX Protocol, the search engine could access a much greater range of potential clients for its data and thus generate revenue.

Token Sale
Presale
17th of November 2017 / 2pm UTC to
5th of March 2018 / 2pm UTC
Token Sale
6th of March 2018 / 5pm UTC to
5th of April 2018 / 5pm UTC

Conclusion
Repux seeks to take advantage of the huge potential market of big data to provide an exchange to benefit developers and businesses. It remains to be seen how well they can take advantage, but one thing is for sure — using blockchain technology to provide such an exchange is a brilliant idea.

Repux details

Website
repux.io
Whitepaper
https://repux.io/white-paper.html
Twitter
RepuX (@repu_x) | Twitter
Telegram
You can view and join @repuxicoEN