In the modern era of computing, companies generate and deal in a lot of data. Large corporations have dedicated departments and sections that scour and analyze the data to gather information related to its clients preferences, trends, areas that could require revamping to increase efficiency etc. Small and medium enterprises do not have budgets and time to sift through all the data and make decisions that will make impacts in business operations.
On the other hand, there are developers of artificial intelligence and machine learning software that need all kinds of data to process and analyze in a format that is useful to the organizations.
The team behind Repux has a vision to help monetize data through transfer, analysis and restructuring in a manner that is useful to the data provider. Currently there is a communication gap between the data generators and the analyzers. Repux intends to bring the generators and the developers on a single platform where they can contact each other and trade data and services.
Repux also allows businesses to sell their data anonymously. Sometimes the data generated by one organization may not hold much value to it, but to another it might mean a gold strike. Developers can buy the data and then apply their analysis to develop statistics and information pertinent to a potential client and sell it.
One of the most important factor here is anonymity. Organizations are usually unwilling to share data to others since that could lead to competitors taking advantages and running counter sales programs to undermine their business. Repux solves this issue with a two-punch method. The first is a reputation system. In this, every buyer and seller has a rating. A good rated developer will have more trust and a high reputed seller means its data is valid. The second step is the core of the platform. It runs on blockchain technology. That means when the buyer and seller trade data, it is done in a decentralized and a direct manner. There are no intermediaries to intercept the information.
The RPX token runs the Repux platform. Being ERC20 compliant, this means the token not only it is safe and secure, trading parties can setup a smart contract too.
The RPX token is on presale for the next month. Buying in the period will get you a massive discount of 50%. The tokens can be bought with either Bitcoins or Ethereum or wired USD in case of fiat.
With Repux, the power of data analysis that was once the forte of big corporations is now available to smaller organizations, giving them an equal footing and a fighting chance.