Data Sharing Just Got Easy With REPUX

RepuX Protocol - Project Introduction and Vision

We are currently in the 21st century, a 100 years period which involves a period in time known as the information age, a time where new technology, critical thinking and use of data is replacing the necessity for excessive Physical manpower. 

The backbone of information age is Data, the collection, processing and application of data to solving real life problems is the basis for technological advancements and innovations.

The collection of data is very important for industries, both large scale and small market enterprises SMEs, but the collection of this data may pose a big challenge for these industries and especially the SMEs. 

I will be introducing a decentralized platform where data can seamlessly be exchanged between collectors who are willing to monetize the data they have and the users who are in need of the data for their businesses. The platform is RepuX

Photo by Bruce Mars from Pexels

What is RepuX?

RepuX is a platform and protocol where data collectors, application developers and data users are connected directly in a peer-to-peer manner to trade data in exchange for RepuX tokens.

The vision of RepuX is to use the innovation of the Blockchain to create a protocol where enterprise companies can sell enterprise data to developers whom then uses the data in creation of customized applications which can be sold back to the enterprise companies.

RepuX is creating a whole new market that did not previously exist and an ecosystem to monetize data which have been really expensive to gather but has very limited in its uses.

The Problems

Expensively Gathered Data With No Use: Large companies and enterprises yearly spend billions of dollars to gather data. Companies invest heavily in artificial intelligence and other technologies to filter the data they actually need from the bulk of data they are able to gather. For example consumer companies like Apple or Beauty product companies spend billions to gathers consumer data ranging from online behavioral patterns, shopping preferences to Geo targeted data in related niches all for a specific need or use case. The same goes for other industries and enterprises. 

The data gathered however is collected such large quantities that only a fraction of it is put to actual use and the rest is simply useless.

Little or No Access to Data for Users: There are entities like programmers, developers or researchers that are in need of data for their business, technological innovations, applications or research papers, but do not have the required resources to gather these information. Some of these entities have the capital required to purchase the data needed but lack the knowledge of whom to buy from or how to go about it.

Cost of Hiring Brokers: Data users  and programmers especially SMEs have to go through middlemen to broker a deal large corporate entities in order to purchase the data required for their business. The services of this brokers however do not come cheap and the quality of the information may be compromised since the data users have no oversight on the process.

Time Expended in Gathering Data: The time expended by businesses in acquiring information needed for their operation sometimes curtails the progress of the project. Either they will carry out a market research or questionaire or hire a broker to buy information from entities who have the data, the process is often a lengthy one with valuable time being wasted in the process.

The room for growth of businesses and technology is curtailed by the access to authentic data.

The Solution

RepuX is the innovative solution to the problems that have plagued the data resource processing and usage sector. Long has there being a need for a solution that allows acquiring valuable data for different use purpose to be an easy task.

The RepuX protocol creates a marketplace where a data collector or an entity in possession of data which is not really serving any purpose to monetize this data, selling it directly to users or application developers and thus creating an additional income stream

With RepuX Protocol;

1. Large Enterprises can easily monetize their huge idle database
2. Data users have a platform where they gain access to purchase the data they need
3. The cost of hiring middlemen or brokers is eliminated from the users expenditure
4. The process of trading and exchange of data has become a quick one

In my next article I will be explaining how RepuX works to provide the solutions to this problems and a real life example of its use case.

Join the RepuX telegram group https://t.me/repuxicoEN to get involved in the conversation and also visit the official website https://repux.io/ and ANN thread https://bitcointalk.org/index.php?topic=2613666.0 for more information about the project and token sale.

If you like my article and the information it provides please kindly upvote and share with your friends/followers, I will also be responding to your comments so feel free to leave them below. Cheers 

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1556229