RepuX Launches Decentralized Data Sharing Platform for SMEs and Developers
RepuX, an Ethereum-backed platform for small and medium enterprises (SMEs) to earn rewards from sharing data, went live today. A recent contract announcement with WorkHQ grants potentially millions of WorkHQ clients access to RepuX’s platform, promising a rapid growth in users.
Data is the fuel powering today’s digital economy, yet many enterprises don’t know how to leverage data to grow their businesses. The RepuX platform has a simple, easy-to-navigate interface for SMEs to upload data and list potential use cases. Developers can then purchase this data to create customized applications that can then be sold back to the SMEs. RepuX keeps data sellers honest by assigning reputation scores, determined by purchasers, to data sets.
Industries that stand to benefit from the RepuX platform and protocol include e-commerce, healthcare, accounting, and IoT, among others. For example, an e-commerce merchant can share its data with a developer who can then use it to create data-driven insights that will ultimately support the e-commerce merchant in making the most cost-effective purchasing, advertising, and marketing decisions. More specifically, a developer could build an AI system that informs the seller when to restock inventory based on size, color, or design. Given the recent contract WorkHQ signed with RepuX, businesses using WorkHQ to manage their inventory on Amazon, Shopify, and other online platforms will now have access to RepuX and can begin optimizing their data today.
What is RepuX?
“RepuX will allow for data sharing and value creation opportunities among data collectors, application developers and data users which do not exist in the current marketplace.”
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 highthroughput 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.
With the development of the RepuX Protocol, RepuX is well poised to take advantage of the reliance of machine learning, big data and artificial intelligence on large-scale aggregate data and to drive innovation in these respective fields. By evaluating the reliability of each entity and each transaction with respect to the data, and with verification by an Oracle system, we can ensure integrity within the RepuX Protocol and provide data users with greater confidence in the content and quality of the data they are purchasing.
Vision
Our vision is to create a protocol which facilitates the monetization of data through efficient transfers between collectors, developers and users that will also allow the evaluation of data reliability and reputation over time. Through our RepuX Protocol, data collectors could transfer data to data users or to application developers in exchange for RepuX Tokens. Developers could build upon the RepuX Protocol, and use data transferred by collectors to generate products and services which could then be transferred to end users in various industries, in exchange for RepuX Tokens. With the RepuX Protocol, we hope to bring additional value to data.
SMEs’ 5 Biggest Challenges and How RepuX Can Help
As digital transformation reshapes industries and business models, small and medium-sized enterprises (SMEs) may encounter difficulty adapting to the new paradigms of the big data economy.
Already feeling the squeeze of diminishing working capital, with cash flows compressed by delayed B2B invoice payment cycles, SMEs are also seeing their borrowing costs rise as the Federal Reserve raises interest rates.
Beyond macro considerations, SMEs should also be aware that the recent repeal of net neutrality by the U.S. Federal Communications Commission could lead to data price gouging by their telecom and Internet service providers, which will further strain cash flows.
Other obstacles that SMEs must seek to overcome in 2018 include: The lack of integrated digital strategy; disconnection from the cloud; non-collaborative business models; ignorance of artificial intelligence (AI); and marketing.
But with RepuX, the world’s first decentralized marketplace for enterprise data, SMEs can overcome these hurdles and transform company data into a catalyst for smart, sustainable and synergistic growth.
Built on the Ethereum blockchain, RepuX leverages distributed ledger technology that enables SMEs to securely share and monetise their data with trusted parties. For example, using RepuX, SMEs can share their internal data and business intelligence with AI and machine learning developers, who can then create bespoke algorithms and applications engineered to the unique needs of the enterprise.
Alternately, SMEs can use RepuX to anonymously sell their data to ecosystem partners or analytics aggregators, creating transformative and urgently needed digital revenue streams. RepuX’s transparent reputation scoring oracle ensures a healthy, fair and compliant marketplace, where the Ethereum blockchain ledger enforces trust between otherwise trustless actors.
Now that we’ve established the use-case for RepuX, let’s dive deeper into the five biggest challenges SME operators face in 2018.
No Digital Strategy
Many SMEs naively assume that their core market will remain constant and that their business model will not be subject to change. But in the digital economy, an SME operator couldn’t make a more erroneous assumption.
Beyond operational and marketing considerations, SMEs need to assess the organisational change that needs to happen in order to facilitate digital transformation. The broader strategy should encompass the following:
- Where can you grow?
- What markets are under attack?
- What is the best defensive strategy to preserve market share?
- How can you monetise data?
By sharing and collaborating on RepuX’s platform, SMEs can develop better data-driven insights about their target markets and develop new data revenue streams from their anonymized internal business analytics.
The Cloud Disconnect
According to a 2016 European Journal of Economics and Business Studiesarticle, most SMEs still rely on “CPU-heavy” systems, consisting of cumbersome computing hardware and expensive software applications. But cloud computing eliminates the need for these antiquated operating models. SMEs can deploy cloud computing solutions to maximize the value of big data analytics, without significant investments in technology and personnel.
To this end, a joint G20 German Presidency- OECD conference report found that “it is essential to foster use of more sophisticated digital technologies among SMEs, especially cloud computing, which allows smaller firms to overcome some of the barriers associated with the high-fixed costs” of information and communication technology (ICT) investment.
Non-Collaboration
The idea of collaborating and sharing data with ecosystem partners is still foreign to many large companies, and even more so for SMEs. But according to a 2017 Goldman Sachs report, looking outside the organization for opportunities to collaborate, might be one of the most valuable initiatives they can pursue.
The report found that sharing knowledge, aggregating resources, broadening networks and collaboratively innovating can significantly improve an SME’s growth prospects. A 2017 Accenture Report on Artificial Intelligence supports this view, as it revealed that collaborative businesses raised their enterprise value by 4.2 percent, or nearly twice the growth rate of non-collaborative entities, since 2013.
Ignoring AI
In 2018, no technologies have become more integral to digital transformation than AI and machine learning. Yet, many SMEs, “which tend to hold back in the face of new technologies,” according to the Financial Times, have neglected to embrace automation. This is a fatal mistake.
The three key advantages that AI offers to small businesses are the following: A lower-cost and more efficient way to capture data insights; predictive algorithms to predict market and consumer behavior; and customer personalization. In the age of hyper-consolidated multinational corporations, SMEs must learn to harness AI to remain competitive, if not operational.
Digital Marketing
Marketing is another operating weakness for SMEs that can be vastly improved by AI. Going back to the last point of customer personalization, predictive analytics can improve customer targeting, so that marketing becomes more efficient, strategic and productive.
According to an independent report by a British marketing agency, SMEs’ top-five digital marketing challenges, in descending order, include: Turning leads into customers; generating web traffic; finding time to engage resources for digital marketing; turning web traffic into leads’; and customer retention.
But by automating marketing with an AI solution, SMEs can completely eliminate their third biggest challenge, and create a data-driven framework to optimize the other four problems, from traffic and lead conversion, to maintaining their existing market share.
RepuX Can Help
As data becomes the center of the 21st Century economy, SMEs must embrace digital transformation and Fourth Industrial Revolution technologies. RepuX helps SMEs securely access mission-critical AI resources and insights through its decentralized marketplace bridging the disconnect between enterprises and machine learning innovators.
RepuX Technology
The application layer is at the top of the RepuX Protocol. This front-facing layer consists of various decentralized applications, or Dapps, that third-party application developers can build on top of the existing RepuX API infrastructure. An example of this could be a service that allows individuals or entities to sell social media usage data in exchange for accessing a website.
The next layer of the RepuX Protocol is the data layer. This layer consists of all the data that can be purchased and sold within RepuX. By storing the data layer within a decentralized infrastructure such as IPFS, StorJ8 or Sia, we not only ensure the existence of the data, but also ensure that the data is stored in a decentralized fashion. Data ownership, sharing, security and privacy preferences can be actualized using multi-signature cryptographic primitives native to the blockchain, to ensure data be redundantly secured on chain and also seen and utilized only by preferred parties.
In order to handle transactions occurring on the data layer, we employ a decentralized logic layer. This layer could be built on top of the existing Ethereum infrastructure; however, we are also exploring the use of EOS, or a custom blockchain infrastructure that could potentially scale to millions of transactions.
At the base of the RepuX Protocol, we build a value layer, which powers the layers above and ensures that people are compensated appropriately for what they do within the RepuX Protocol. We have created the RepuX Token as part of this value layer to allow parties to send value payments between one another for purchases and sales of data and other goods and/or services. Value of the tokens can be proportional to their demand for their use in data sharing contractual services, whereby different tiers of token holding quantities can enable more advanced and larger scale data sharing capabilities. This acts as a mechanism for fairly distributing available blockchain-based data storage and serves as a demand vehicle for tokens that enables fair data usage.
Our Goals and Objectives For the RepuX Protocol are as follows:
1. To develop a high throughput system where data can be directly monetized between collector, developer and user;
2. To establish a secure reputation infrastructure in a RepuX Token transaction that allows users to apply semi-permanent records in joint transactions;
3. To develop an easy-to-use application programming interface (or API) that allows third-party developers to build our RepuX Protocol to create a variety of different applications;
4.To maintain scalability and speed as a high priority during the design and development of the RepuX Protocol; and
5. To integrate the RepuX Protocol with existing blockchain technology while building custom solutions in a particular case.
In short, our main goal is to build a secure and reliable data transfer protocol that can be integrated with a variety of different applications developed by third parties for use by a number of different industries.
Token Sale
will run for a period of 31 days from 6 February 2018 to 9 March 2018. The round will continue until the 33.1 million USD limit is hit or the final round is over. During REPUX Token Sale can be purchased with ETH, BTC or Wire Transfer rewards, with a minimum contribution of 100 USD (or equivalent to 100 USD in BTC or ETH). During Pre-Sale, the minimum contribution is 30,000 USD.
Standard Token:
Supply of Token ERC20: 500.000.000 REPUX
Token Sale Price: 0.20 US Dollar for 1 REPUX.
Token sales ends on March 9, 2018
Start date: February 6, 2018 / 5pm UTC
End date: 9 Mar 2018 / 5pm UTC
Hard cap: 33.1 million USD
Soft seal: 1,000,000 USD
Payment receives ETH, BTC, XBT and USD via Wire transfer
Supported wallets for Token Sales include MyEtherWallet, Mist-Ethereum Wallet, Metamask, Parity, imToken, Ledger, Trezor, and others.
Roadmap
Details Information :
WEBSITE : https://repux.io/
WHITEPAPER : https://repux.io/white-paper.html
TELEGRAM : https://web.telegram.org/#/im?p=@repuxicoEN
TWITTER : https://twitter.com/repu_x
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1273699
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