RepuX - Decentralized Data Marketplace

Basically, what this project is in a nutshell, it's a data project, it monetizes data from millions of small enterprises. So, small enterprises and medium-sized enterprises they can able to sell their data into a data marketplace and then developers can buy those data and make applications off of it. Then developers can sell those applications back to those small businesses or medium-sized businesses to use in their business and they will receive tokens. So, it's just transactions after transactions and this is basically a marketplace for data and everything will be exchanged with data. The competition for this is datum and if you guys don't know what datum means, it's another data project but datum specializes with personal data so individual persons can sell their own data out in that marketplace but in this case the data from businesses and small and medium-sized businesses because the large businesses practically they own all the data and it kind of pushes the small medium-sized businesses out of the loop. That’s why it's so hard for those guys to grow and that's why so many small businesses don't make it up there. So, there hasn't been a project like this yet so this is kind of the first one in which small businesses and medium-sized businesses can actually use their data and sell it out there because the problem is there's a lot of small businesses out there or just businesses in general with unused data.

An example would be how repux could help the Smithsonian monetize their dusty data. The Smithsonian is a popular museum in which it has a large amount of database. That is unused and they can profit off that by putting it in this marketplace. So, that database is full of images, text and other records. Basically, of every customer artefact they have and that can actually be useful to create applications. I don't know what it’s going to be used for in their case but in a sense why not just make profit off that data when you have all that information stored somewhere, make profit off it. That's the digital world we live in today, everything is traded on data and the same thing with any business. So, for me. I'm considered a small business and the analytics I get from the customers going through and out my website I can able to sell that data in this marketplace and receive revenue off of it. So, developers can also build platforms or build applications to do whatever and they can sell it back to whatever business or any enterprise and they’ll receive profit off it also. Another problem with the data today is trust and reputations because big businesses are able to manipulate the reputation of each and every single other reviews and businesses. So, example when a data gets a rating, big businesses can manipulate it and they can sell it for a larger amount of price and there's a middleman in between that kind of regulates what data is being sold in knots. In that sense, your data is not in control, the small businesses their data is not in control and it’s hard for them to get in a wider market place because big businesses practically on all the data like I’ve said. With this since it is in a blockchain, it's very immutable, secure and it has a rating feature in which small businesses can be rated on their data and they can build their reputation through there.

Also, small businesses can able to choose who they want to sell to or who to not sell to because also the problem is that big businesses can practically take every single one's data and they can sell it to whoever they want. Even competitors to they can just take away data from another small business, just build off that and just completely destroy the other business but in this marketplace small businesses can choose to sell their data to so that they don't accidentally sell their data to a competitor. Just by putting it in the blockchain data will become transparent and it can actually become reliable. The big thing that this will do is really drive the innovation of artificial intelligence and machine learning because it could definitely supply data to those types of innovation and it will just increase their growth. Artificial intelligence and machine learning they all learn from data so why not just small businesses contribute to this and get paid in return. Another example of Repux usage could be a service that allows individuals or entities to sell social media usage data in exchange for accessing a website. In a sense, not a lot of people know this but Facebook and Instagram each individual person has analytics to their own. Social media to their own accounts and they can actually sell that data to get tokens or accessing a website in general. The data could be built up to develop more applications. Going back to like I said with the big businesses manipulating ratings and data is that Oracle is the system that is used in repux.

So, in this case every transaction or unusually high suspicious ratings will need to pass Oracle. In order to rating to be applied to the buyers and sellers repux address. It's kind of a smart contract and it's it regulates what goes in and out of the market. So, for that if a seller has a high rating then the seller is more reliable as well as that buyer. If the buyer can actually buy that data and go through with the transaction. Advertising and online content will be important also because advertising agencies they buy data all the time to make ads to target the demographic of people, to target their audience, their niche wherever they want to target their ads. They collect data in order to do that. Ecommerce and international trade as well will be a big usage. With any e-commerce store that's essentially the backbone of business is the buying and selling of products. You want to know where your customer is at, you want to know who your buyers, who your audience is at and what better way is it to gather data so you can know more about those.

Website: https://repux.io/

Twitter: https://twitter.com/repu_x

Facebook: https://www.facebook.com/Repux-415260768888793/

Telegram: https://t.me/repuxicoEN

Whitepaper: https://repux.io/white-paper.html

Bitcointalk ANN:https://bitcointalk.org/index.php?topic=2613666

Authored by: donniedarko
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=1720051