Handling Data: The problem Repux is looking to solve
As you probably know by now, digital currencies are by no means a perfect system yet, they are plagued with a lot of problems and they have a lot of catch up to do with the tools of the FIAT system. Every time a new ICO comes along they propose a solution to a very specific issue. Repux has taken notice of a particular problem and they are doing their best to offer the most effective solution.
Big data banks, big problems
It all begins with the stored data of multinationals and big companies. Every major corporation experience issues when it comes to data management, especially if their operation is large enough. While some of them have the resources to handle this with their own informatics departments, some of they can’t afford the costs or the development of an effective solution. That’s where Repux comes in, the company is working to create a platform where corporate and user data can be monetized and traded between interested parties. Using multilayered decentralized protocols such as IPFS, SIA and Ethereum/EOS, Repux is looking to create a transparent market for data and information.
How Repux works
When it comes to the technology behind Repux, they work with an API that allows third parties to develop their own programs to suit their specific areas of business, the platform is looking to offer value to data transfers between users using a B2B protocols (similar to P2P but works only for businesses trading information). The possibilities to share massive amounts of data within minutes could make the handling more effective and it’s the untapped territory where Repux is trying to dive in. Once they have set up their operation, there will be no need for intermediaries to send big data bans from one point to another, Repux is aiming at a development entirely based on machine learning and AI to rely more on large-scale aggregation of data.
The security behind Repux
Repux is not taking chances with the data authentication so they are setting up a qualification system based on reputation and feedback on each transaction that will be verified by an Oracle system. The integrity of the system is 100% guaranteed, and offer another investors and participants the confidence to keep using the platform while making sure they are acquiring reliable data. If Repux’s initiative gains the momentum is looking for it would offer a chance to developers to purchase and trade company data with an emphasis on security and in real time.
What Repux offers
The decentralized applications of Repux would be available to users and developers using the platform in a stable API along similar data types. Whoever wants to check out the data they are getting can do so by getting a preview or even by subscribing to it. If they are not content with the options they can keep exploring the ecosystem until they make their choice. After that is just a matter of using the Repux tokens to buy all the applications that are needed and trade them when the user is done using them. The reliance on the data will be policed by the users.
The financing of this operation is being done with the sale of the RPX token that is being offered since November of 2017. The ICO will end on January 23rd. The token price is currently at $0,10 a unit.
You can get more info if you visit:
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Looks interesting. Definable worth taking a look.
Thinks for the update man. Appreciate it.
thanks for sharing