So What’s The Deal With Data Collection Anyway?

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The process of gathering and measuring data or other variables is primarily known as data collection. This process allows the collector to answer a core hypothesis and finally evaluate the outcomes of said data collection. Virtually any research endeavor starts at this phase ranging from physical sciences to business development and socio-economic experiments.

Data Accuracy: the prime concern of data collection

Although there are different collection methods out there the most concerning factor of the entire collection action should be the accuracy of the acquired data, regardless of the field, ensuring that the information is accurate will finally streamline the research process.

Capturing the right data translates into an in-depth data analysis that usually leads to incredible discoveries that were initially thought of in the hypothesis. Selecting the appropriate data collection tools will significantly reduce the chances of errors during the actual collection process. Simply put, it’s crucial to have accurate data as then the entire research process could be based on erroneous data and undermine the entire operation.

With the help of cutting-edge technologies like blockchain, however, organizations or individual users could have access to accurate data thanks to the security and reliability that a decentralized collection system offers.

The Repux ecosystem: a marketplace for all your data needs!

Repux coupled with the Repux token want to create a bridged market based on blockchain technology that will allow small businesses to sell their data to AI and machine learning developers that in turn can develop actionable insights and data products. Using this cycle, the full circuit of data is achieved, and all involved parties benefit from it by receiving Repux tokens.

The Architecture of the Repux Network

By using a decentralized system of governance to oversee the transactions and interactions, Repux will register all of the actions within the decentralized public ledger that leverages the distributed computing power under the same transport protocol. Using these systems, it will be virtually impossible to create fraudulent transactions as no single point of presence can be abused or hacked.

dApp developers will interact with the ecosystem via an API interface that will facilitate the creation of Data products with the data streams sourced directly from their original place. The main net is based on the Ethereum blockchain to make use of the Smart Contracts feature. This module will ensure the encoded trustless system works according to terms and all of the involved parties uphold their part of the contract. So, the advantages of using the Repux network would have to be the following:

• Tamper-proof and immutable data market
• An advanced reputation system
• Monetization for data collectors and data users
• Fair pricing schema based on the nature of the data

Current centralized data markets lack the trust between the contractual parties. It’s difficult to assess if the person selling the information is trustworthy and the accuracy of the data is real. With an ecosystem like Repux, however, these issues will become a thing of the past!

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