Repux - Potential Project 2018

The Repux ICO starts soon, with a lot of people talking about it already it looks set to sell out quickly.

What is Repux?

https://repux.io

They're planning to launch a new decentralized platform that will allow users to monetize their data. The new platform will work by allowing users to transfer their data to those who wish to buy it or to developers and the user will then get rewarded with the new tokens.

They state in their whitepaper that they believe with their Repux protocol they'll be able to capitalize on machine learning, data and AI.

The AI market

Artificial Intelligence is advancing quickly, it's estimated that investment into the field is doubling every 2 years, machine learning has seen some of the quickest growth in the area.

The team behind this new platform believe that by combining a decentralized data market with AI they'll be able to help to advance the technology quicker.

The increasing worth of data

Companies pay huge money for data, they can then use this to target their ads in the most economical way. However much data is wasted by companies, with many not realizing how much it can be worth. However there's still problems that exist in the market. Many users don't feel comfortable with companies storing their data and there isn't an easily accessible market for companies to purchase from.

By using the blockchain it will be possible to create a more trustworthy ecosystem that allows users to choose whether they wish to sell their data to companies or not.

The Repux Protocol

The features of the new platform can be split into 4 sections:

• Application layers and APIs: The blockchain makes it much harder for fraud to occur. It uses a decentralized ledger that can be fully verified by both parties. The new platform will be designed so that anyone can use their API to help improve it or to build similar applications to target different industries.
• Data: This is the layer that may interest many users. All data will be stored in a decentralized system and users will then have the option of selling it.
• Logic layer: This layer will be used to handle transactions. They state in their whitepaper that this can be built using Ethereum, however they're also monitoring the progress of EOS.
• Value layer: This layer will be where users are rewarded for their work in the layers above, the rewards will be distributed using the new RepuX token.

Feedback system

The platform will use a feedback system so users can be assured that the data they're purchasing is worth their money. Each transaction made on the platform will be given a rating.

Use cases

In their whitepaper they state many different markets that may be interested in using the platform:

• Archive databases: Much of the data being purchased currently is related to online sales. This has made it difficult for companies with more traditional data to find buyers. The new platform will offer the opportunity to reach a much larger audience for businesses looking to sell or exchange data.
• Big data: Machine learning is quickly growing with more and more money being invested into the technology. Most of these companies are spending the majority of their budgets to purchase data so that they can train their machines. The new protocol could offer companies such as this a much lower cost and much easier access to the data that they require.
• Advertising: Many software companies now offer products for free with the hope or luring users into purchasing more advanced programs. Users such as freelancers can have the option to install software that will earn them money based on the data that they collect.
• International wholesale: Many international wholesalers have to either charge high transaction fees or absorb the costs themselves. This is due to their being little trust between themselves and new customers. By using a feedback system on the Repux platform it should add a level of trust that can mean both parties can cut down on their costs.
• Credit scores: In the future it may be possible to improve your credit score by using the platform. 3rd party agencies could be granted access to the feedback system which will show that they've previously made payments.

Token utility

Many of the recent ICOs seem to be creating a token for the sole purpose of raising funds through an ICO. Repux however seems to be different as their token will be used to make payments and offer rewards on the platform.

Each transaction made on the platform will also add to a users reputation.

Those holding tokens will also be able to create applications by using the new protocol.

Roadmap

• July 2017: The project raised $400,000 in seed funding.
• September 2017: They recruit professionals from the indsutry.
• October 2017: The Repux foundation is established as a not for profit.
• December 2017: The Protocol went live.
• March 2017: ICO sale.
• May 2018: The new protocol is open for developers.
• June 2018: The platform will begin to allow decentralized applications.

ICO Details

• ICO Date: March 2018
• Price: $0.2, discounts are available.
• Type of token: ERC20

Conclusion

The project is one of the most ambitious for an ICO that I've seen recently. However if they're able to purchase data cheaply by rewarding ordinary people instead of purchasing from large companies then they should quickly become very competitive in the market. The machine learning market is estimated to grow very quickly and data is where the majority of their budget is going.

The team behind the project looks good with their whitepaper boasting many team members with a long history in software development.

Check out more details on their website below:

https://repux.io

Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1255620