RepuX released its white paper introducing its platform for Small and Medium Enterprises to earn rewards for sharing data with developers.
Kraków, Poland; November 17th, 2017 — RepuX released its white paper today outlining its Ethereum-backed platform for Small and Medium Enterprises (SMEs) to earn rewards for sharing data on a decentralized network. Developers can use the data provided by SMEs to build Decentralized Applications (Dapps) that can then be sold back to SMEs to grow their businesses. This system of exchange and rewards enabled by the RepuX protocol forms the foundation for a new, peer-to-peer, data-sharing ecosystem.
In today’s digital economy, data is gold. Software developers need access to data in order to build better applications for businesses. RepuX incentivizes SMEs to share data through the tokenization enabled by blockchain technology. Because trust is a consequence of blockchain technology, RepuX can overcome the lack of trust between anonymous actors in peer-to-peer networks. In the current data ecosystem, businesses are beholden to third parties for data set verification, which is both inefficient and costly. RepuX addresses this issue with participant-provided reputation values assigned to data sets. Reputation incentivizes data sellers to be honest and provide the highest quality data sets.
Eliminating the need for trust between actors on the network could significantly reduce fraud while simultaneously enable a spectrum of potential advancements in areas such as insurance, international trade, and micro loans. RepuX returns value to user data and bridges the “digital divide” between those who have easy access to machine learning data-sets and those who don’t. Industries and businesses that stand to benefit from applications integrated with the RepuX protocol include, medical records, Electronic Point of Sale “EPOS”, Credit Scoring, Ecommerce and International Trade, Advertising and Online content, Big Data, and Archival Databases, amongst others.
RepuX intends to launch a Token Generation Event (TGE) in early 2018. 300 million RepuX tokens will be offered for sale by RepuX Limited through a pre-sale and the RepuX Foundation during the public ICO. The RepuX Token is an ERC23 token, which will be the only method to pay for and sell services on the RepuX platform. RepuX tokens can be purchased during the ICO with a transfer of ETH or BTC as well as via wire transfer for the pre-sale.
To schedule an interview, please contact Nikki Brown at Melrose PR; nikki(at)melrosepr(dot)com or call (310) 260-7901.
RepuX is a blockchain-backed protocol and platform for SMEs to earn rewards for sharing data on a secure, decentralized network. The RepuX platform anonymizes data and maintains quality through reputation scores determined by purchasers. Industries that stand to benefit from the RepuX platform include ecommerce, healthcare, accounting, microlending, and advertising, among others.