An innovative way to monetize your large volume of unused data: RepuX

Any business or organization will collect data from the customers on a regular basis for various purposes like to improve their existing product/service or before the launch of a new product/service. Let's assume that a new mobile service provider is entering the market who is targeting mainly the users of Android platform. So, they are conducting a survey and collecting data about the Android mobile users. Once they successfully launch their service, the collected data is no longer needed to them. At the same time, a start-up company is developing a new lock screen app for Android based mobiles. Instead of reinventing the same wheel, if they can get access to the data collected by the mobile service provider, then it will help them to reduce the development time as the data is already available. Of course, they can make the necessary payments to the other company to get the data. But, this kind of data exchange is possible only if you have some kind of platform to connect the developers and data providers.

Let's consider another example. Have you heard about the Smithsonian Institution in the U.S.? It is the world's largest museum complex with more than 15 museums located in Washington D.C, the capital of USA. Every museum has a large volume of historical data in the form of images and documents which are rarely used. If the developers of machine learning algorithms get access to this much volume of data, then it will be a great boost for them to train their AI (Artificial Intelligence) based machines. Instead of keeping the unused data idle for decades, the institution can sell their data to the developers and use that funds for building more museums or renovating existing ones.

In both the cases mentioned above, the data owners couldn't find a trusted platform for monetizing their data whereas the developers don't have an easy option to get bulk data. To address this concern, a new marketplace named RepuX, based on blockchain technology is under development. RepuX aims to bring the developers and businesses under the same roof so that it will easier for both the participants to fulfill their needs. Businesses can use the RepuX platform to sell their large volume of unused data. Developers can buy the data and use them for the development of AI-based machines. To ensure the reliability of data, RepuX platform has partnered with Oracle system for handling the verification of the data so that the developers can be fully assured that they are buying only relevant and meaningful data.

Do you want to know more information about the platform? Kindly visit their official: Website, Bounty Thread, ANN Thread and join the Telegram group

What are the payment options available to the developers to buy the data? The only way to transact in the RepuX platform is by using RepuX Data Tokens. These tokens are proprietary to the RepuX platform that will be available for sale during the token sale event. Check out the website to know the pricing, availability and the procedure to buy RepuX tokens.

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