RepuX: A New Source of Value in Data

willitchang (40)in #blockchain • 7 years ago

Based Small Business Administration (SBA)data, there are almost 28,8 million small businesses in the U.S which represent 99,7% of US businesses. More than 48% of the working population (56,8 million individuals) works in a small business.

When combined together, small business is actually a big business. Small business has big impact on national economy as well as become major contributor to the GDP.

But what happens when it comes to data? Big data entails large data sets that are usually collected by a business or organization as a by-product of day-to-day operations.

Small companies likely have a ton of Big Data from keeping track of the sales to social media communications. As small as they can be, each business has raw masses of data stored within systems of record, content management systems, reports, Adobe PDF documents, web sites, social media feeds and log files that can be scraped and transformed into valuable information.

Problem is, most small businesses don’t know what to do with these data. There’s a lot of confusion and they are trying to figure out what is useful. The fact is it can help small business owners understand how their business functions and how it serves their customers. It can help small business reveal new opportunities and partnerships, dig up unknown problems and even make more money.

RepuX is a protocol level framework upon which various types of immutable data can be commoditised and exchanged between different corporate and individual user parties. By creating and allowing for value and data transfers directly between peers utilising the protocol, RepuX allows for the creation data sharing possibilities for individual and corporate user and aggregate data, which do not exist in the current marketplace.

RepuX is a data marketplace for SME’s built with trust and transparency. By utilizing blockchain technology, RepuX marketplace has a few advantages:

Immutable and transparent data market
Provides reputable and useful data
The platform allows for the monetization of data by both individuals and entities
The pricing and value determined by the marketplace.

With all of these advantages, RepuX users are able to fully benefit from transparent and secure environment for monetizing data.

How does it work?

Businesses sell anonymised data and earn REPUX tokens. Developers buy the data to train Machine Learning algorithms and then re-sell their intelligent applications (dApps) back to enterprises, enabling them to make better business decisions. RepuX Protocol aims to build custom blockchain infrastructure that could potentially scale to millions of transactions.

Unlike other blockchain-based companies, RepuX already has a working product.