Repux: Analyzing the Internal and External Factors

SWOT Analysis

In this article, I will use the SWOT analysis to illuminate your views on the pros and cons of the Repux project which are not embedded in the white paper but are factors that affects the project.

SWOT analysis is a business analytical tool used to examine a project in such a manner that will determine the project strength, weaknesses, opportunities available to it and the factors that threaten its progress.

 Photo by William Iven on Unsplash 

Strength:

The strengths of a project are the internal factors that give it a competitive edge over its competitors. 

The strength of Repux over its competitors is that it has a working prototype. This means that the project is already established and not a white paper project that just wants to Siphon money from the public. You can check and see how the Repux platform works on marketplace.repux.io. Repux already launched it pilot program with 3 businesses, namely;

1. WorkHQ; a cloud- based inventory management software company
2. Dascom; a company that base in printing, and telecommunication
3. Fung, Yu & Co.; a Hong Kong certified public accounting and management consulting firm.

These companies are able to upload their data and monetize it on the Repux platform.

This shows how dedicated and committed the Repux team is to make this project a hit and not a miss.

Weakness:

Considering the fact that blockchain is not yet adopted worldwide and a lot of people are still skeptical about it, Repux will take a significant amount of time before it gets fully adopted. 

Not every jack and harry is capable of utilizing the blockchain, meaning users with quality data may not have ability to upload and monetize their data on the platform, so it will take time before the Repux database is filled with all necessary data. Users will find it difficult to find the exact type of data they need on the Repux database in the short run. 

An example is the Internet, the internet started in the year 1950. Though it was a good plan then but it was not mass adopted until the late 90s. I see Repux facing the same problem, because it will take long before their database is filled with enough data for users.

Opportunity:

The application of data is limitless; I.e. data is useful in almost every field of work. Therefore the opportunities available to Repux are indefinitely large, from being used as a fuel for machine learning (machine learning and building with the use of data) which will improve technology, to being used for research and development purpose. Also data can be used in business to improve efficiency and also used in academics. 

Repux is looking to exploit the opportunities available by the scarcity of data to provide a platform where data can buy easily traded and given value.

Threats: 

Threats are the external factors that may affect the progress of a project.

The main threat of Repux is competition from existing and potential competitors. There is no barrier to entry in the blockchain; this means that a lot of projects can come up with a different concept and with an experienced team to execute their project, which will make Repux obsolete. As a matter of fact Repux already have blockchain inclined competitors with similar ideas, but there are values that set Repux aside from them; like the feedback mechanism stated above among many others.

Except the team are able to fight off competition by keeping up with the latest on the blockchain, it faces a threat of being out gunned in the data market.

OFFICIAL CONTACTS

Website: https://repux.io/ 

ANN: https://bitcointalk.org/index.php?topic=2613666.0 

Telegram group: https://t.me/repuxicoEN 

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

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

My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1633818