RepuX is a protocol level framework (the “RepuX Protocol”) on which various types of immutable data can be commoditized and exchanged among different corporate and individual collectors, developers and users. The RepuX Protocol combines multiple decentralized technologies such as InterPlanetary File System (or IPFS) , Sia , Ethereum , EOS , and offers the potential to upgrade to a custom high throughput blockchain. By facilitating the transfer of data and value between peers, the RepuX Protocol creates data sharing possibilities among data collectors, application developers and data users which do not exist in the current marketplace. The RepuX Protocol provides the opportunity to data producers to create value in their data through facilitating the provision of this data to users in multiple industries, while eliminating the need for intermediaries in this process.
Pre-Sale and RepuX Token Sale
RepuX Limited is creating 500 million RepuX tokens (the “RepuX Tokens”). RepuX is conducting a pre-sale of rights to receive RepuX Tokens upon occurrence of the public launch, which is being made available solely to accredited investors through a Simple Agreement for Future Tokens (the “Pre-Sale”), followed by a more broadly available offering ofRepuX Tokens that will occur once the RepuX Protocol is operational (the “Token Sale”). The RepuX Token is an ERC20 token which will represent the only method to pay for data services in connection with the RepuX Protocol. RepuX Tokens can be purchased by qualified purchasers during the Token Sale by transferring Ether (“ETH”). Each participant in the Pre-Sale will be required to provide information concerning their status as an “accredited investor” (or similar concept) under applicable securities laws. Each Pre-Sale participant, as well as each purchaser of RepuX Tokens in the Token Sale, will be required to provide “know your client” (or KYC) information. RepuX will carry out certain checks to ensure that they are adhering to their anti- money laundering (or AML) requirements and procedures.
RepuX Feedback and Reputation
The world economy is built on top of a system of trust. While this has enabled globalized cross-country trade to flourish, it has increasingly made it difficult for smaller businesses and individuals to establish a reputation among bigger entities. This has resulted in an increasingly centralized distribution of power, hurting the smaller businesses. Similarly, data without a certain authority backing it is often considered unusable. This means that fewer and fewer people and businesses are able to sell their data without first going through a middleman. To address this issue, they have enabled the attachment of a rating and reputation behind each trade in the RepuX Protocol. As can be seen below in the demonstration, they store the IPFS data hash within a private data array inside the Ethereum smart contract. This can later be accessed by sending a pre-specified amount of RepuX Tokens to this smart contract.
The blockchain environment is changing constantly, with innovations occurring every day. As a result, RepuX remains open to exploring the incorporation of more effective, efficient and scalable blockchains that may be developed in the future. The current sample logic contracts are built using Ethereum’s solidity programming language. However, Ethereum is still under development. They have considered many different solutions and currently believe a Proof of Authority (or POA) custom blockchain will most likely be the fastest, most secure method of blockchain in the longer term. However, it offers less decentralization than Proof of Stake (or POS) and Proof of work (or POW). Ultimately, they will need to strike a balance between speed and security, on the one hand, and decentralization, on the other hand, in selecting among different logic systems in the final RepuX Protocol.