Overview RepuX ICO
Table of contents:
- RepuX platform
- Problems and solutions
- How does it work
- ICO Details
Repux is a platform for data trading. The database is designed for data collectors, developers and consumers. The protocol is an information storage with high capacity. The platform is built on the basis of Blockchain, which guarantees the transparency of all operations. The developers are confident that in the future, the monetization of data will bring profit to individuals and companies. The platform will allow to conduct operations between users of the site, and all this will be realized without intermediaries.
Repux is a platform that has been created for exchange on a monetary basis by large amounts of information
The XXI century is the century when artificial intelligence began to spread rapidly throughout the whole planet. Researchers came to the conclusion that the machine is able to think the same way as a person and solve creative problems. But for this it needs to be trained. This is exactly the same as the development of a person: a child, meeting with the outside world, absorbs information, processes it and eventually learns.
But artificial intelligence is not developed for general development, but for specific purposes. Even before the “thinking” machine, a person poses a specific task. And it is necessary to conduct training for it. For example, the technique used in the medical field requires data on the diseases, statistics and methods of their treatment, the peculiarities of the course of illnesses.
This is a very large amount of information, which the developers of artificial intelligence often do not. But they are in medical institutions, through which thousands of patients go every year. For decades they collect statistics of patients and diagnoses. But the data remains unclaimed, since they do not have a direct relationship to the day-to-day work of the clinic. As a result, medical institutions are forced either to use precious technical resources to store unnecessary information to them, or to delete it.
We expect that the monetization of data will be the main source of profit for individuals and legal entities in the near future. According to experts’ forecasts, by 2025 the total amount of information in the world will reach 180 zettabytes (180 trillion gigabytes), for comparison, in 2015 this figure was 10 zettabytes.
Goals and objectives of RepuX:
?Create a system with high capacity, which will enable you to monetize information directly between data collectors, developers and end-users;
? Building a secure reputation infrastructure within the RepuX token transaction transactions, which will allow users to apply quasi-continuous records when making mutual transactions;
?Development of application programming interfaces (APIs), which will allow third-party developers to use the RepuX protocol to create various applications;
?Stopping while creating and developing the RepuX protocol as its main priorities, scaling principles and providing high bandwidth;
?In a number of cases, the integration of existing block technologies into the RepuX protocol when creating custom solutions.
The ultimate goal is the creation of a secure, reliable protocol for the exchange of data with high capacity, which can be integrated into a wide variety of applications developed by third parties for the further use of these applications in a number of different industries.
Problems and solutions
According to the question, gold in the modern digital economy. Small and large enterprises rely on data to access targeted support, product development and business development, but large data sets will take time. In addition, small and medium-sized enterprises (SMEs) do not have access to a dataset such as Amazon, Google and Facebook. On the other hand, SMEs tend to prefer a data set that is smaller, and is particularly useful for developers and other companies, but in the modern digital economy there is no mechanism that is safe and effective for monetization in exchange for their information.
Thrust of SMEs (medium enterprises) to exchange data with developers through the use of the RepuX price tag. Developers and other interested parties can be assured of the quality of the RepuX data collection platform, because of the reputation rating determined by the buyer’s data, and we can give a reputation in every country and every transaction and verification in the system, we can guarantee the integrity of the protocol and the quality of the data that customers buy.
We know big data as large datasets collected by organization or business. These data sets are in particular known as by products of operations happening day to day. As for the data sets, it can actually be anything such as medical database containing information regarding illness diagnoses, location and time. What has been being an unfortunate fact is that most of the big datasets are not directly related to organization or business’s immediate operations so the datasets are often discarded and dismissed. In the meantime, other companies can easily use and monetize the data to gain benefits.
But there is still something missing from this process, the transparent and immutable data market with useful and reputable data to allow both entities and individuals for data monetization so anyone can be the one who makes and markets it to those needing the data the most at value and price determined by marketplace. This is the solution offered by RepuX protocol. So in the end with this proposed solution, users on anonymous basis can optionally sell the data to marketers.
In terms of trust and transparency, RepuX has another proposed solution. In this highly develop technological world, there have still many issues and challenges including in datasets sharing which is unfortunately lack of transparency and trust between the parties involved in the data transaction. As a result, a person faces difficulty in determining the well organization, insight and precision of specific dataset without assessing it before. Moreover over, there is also issue of lack of common platform in data transaction. When the issue is adequately resolved, there will be significant decrease in fraud rates. At the same time, it will enable the potential transactions of data across many industries including in micro loans, international trade and insurance.
Blockchain by design is resistant inherently to data modification as it comes as continuously growing records list which are known as blocks secured and linked with the help of cryptography. In each block, there is has pointer that works as link to previous transaction, timestamp and block. So, the blockchain can be open distributed ledger with capability to efficiently record any transactions happen two parties in permanent and verifiable way. In this case, the peer-to-peer network manages the process to validate the new blocks. And once the data is recorded, it will not be retroactively altered without altering all the subsequent blocks. Therefore, the use of blockchain by RepuX Protocol is considered ideal where transactional integrity and security are the paramount.
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