RepuX is an Ethereum-based platform and protocol for small and medium enterprises (SMEs) to earn rewards for sharing data on a decentralized network.
Where there’s a problem, there’s an opportunity.
RepuX is being designed to solve one such “problem:” a digital divide between tech giants who have access to huge machine learning datasets and smaller developers and startups who don’t. This is concentrating AI development, which requires huge datasets, in the hands of an elite few. RepuX wants to create a marketplace where companies who own the data and willing to sell it and smaller startups can meet and work together.
This is a very bold aim. RepuX was founded by a Polish team who has decades of experience in software development and enterprise software sales, but little experience in the cryptocurrency world.
Nevertheless, Repux believes their platform, once fully functioning, can give SMEs a fighting chance against giants like Amazon, Google, and Facebook in developing hi-tech AI solutions with the help of big datasets.
Industries that could benefit from the RepuX network of data exchange include startup, tech, healthcare, ecommerce, micro lending, accounting, advertising, and others.
How the platform will work
RepuX addresses today’s concerns about security of the private information: The blockchain-backed platform will encrypt all data and reward businesses in cryptocurrency for sharing that data.
Also RepuX platform will meet another big concern, the quality of data: Buyers can trust the validity of data because its value is not being determined by a single, centralized entity, but by peers.
The RepuX platform encrypts data and maintains quality through reputation scores.
Progress and token sale
The platform is live, currently running on a test network. On the Marketplace a user can upload and later, sell files/data.
RepuX has recently signed a 5-year contract with WorkHQ, a China-based inventory management software, which is a good step forward for the team. WorkHQ is incorporating RepuX’s technology into applications used by a big number of Asian and not SMEs to provide clients with a means to sell their data in return for RepuX tokens.
The team is running a REPUX token sale which, at the time of writing, will last 15 more days – till March 26th, with a hard cap of $33.1 million USD and the total supply of 500,000,000 REPUX. The price of one REPUX is US$0.20 equivalence in Ether (“ETH”).
For June 2018, the team has plan to open the platform for decentralized enterprise applications.
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