RepuX Connects SMEs and Developers with Ethereum-Backed, Data-Sharing Platform

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Companies spend millions of dollars annually to safely store and maintain copious amounts of data. These data are often locked away in silos, unutilized, due to their limited capacity to process it efficiently. Recent developments in AI and machine learning has made the industry one of the fastest growing in the world. However, most developers lack access to data for the development of their cutting-edge solutions. This is simply due to inherent trust and transparency issues with the traditional data sharing model. On one hand, there is the difficulty of determining if a specific dataset is well organized, precise and insightful without first accessing the dataset to evaluate it. On the other, there is the security concern of sharing proprietary information with unknown entities. This disconnect is threatening to stymie the growth of the industry.

Introducing RepuX

Between the disconnect of sharing and selling dataset, tech startup, RepuX, has identified untapped potentials. The Ethereum-backed platform and protocol are developing a decentralized ecosystem facilitating the monetization of data between developers, collectors, and users through secure and trustless channels.

RepuX addresses the major barrier to trade by encrypting all data and settlement on the blockchain. The borderless distribution nature of the blockchain and inherent resistance to modification of records makes it the ideal foundation for the creation of a protocol where security, transactional integrity, and reputation over time is paramount. Users on the platform can trust the validity of data and integrity of every transaction because every exchange has been vetted by the network rather than being determined by a single, centralized entity.

Layered Protection

RepuX protocol is built on four key layers:

• Application Layer: A front-facing layer consisting of various decentralized apps built by third-party developers over RepuX’s API infrastructure.
• Data Layer: Consisting of all tradable data on the platform stored on decentralized infrastructures
• Logic Layer: A layer that handles all transactions built on Ethereum blockchain.
• Value Layer: Powering all the other layers, this layer also ensures that users are properly compensated for all exchanges on the platform.

Rewarding Data Exchange and Building Ecosystem

All reward and settlement on RepuX are driven by its native RepuX Tokens. 500 million of these ERC20 compatible tokens is being created and will be offered to the public through a token sale to accredited investors. All RepuX Tokens not sold by the end of the Token Sale will be burnt. RepuX Tokens can be purchased by qualified purchasers during the Token Sale by transferring Ether (“ETH”).

Ahead of this sale, RepuX has signed a five-year contract with China-based inventory management software, WorkHQ. This contract will grant RepuX access to millions of SMEs (small and medium enterprises) in China using WorkHQ’s software for purchasing and managing sales across Amazon, Taobao, and Tmall and will reward these SMEs for exchanging encrypted data on the RepuX platform.

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source https://cryptocurrencyonline.co/repux-connects-smes-and-developers-with-ethereum-backed-data-sharing-platform/