Repux

In the world we live in, business reigns supreme. But left in the dust is up and coming businesses that could use a helping hand from data readouts that get produced on a regular basis. These data readouts can be used to help to train machines and contribute to future business development.
By the year 2025, there will be hundreds of billions of data gigabytes produced! Data is quickly becoming the fastest rising commodity we know of, simply because modern technology allows us to streamline the way we process data so effectively. And with all the new data produced by businesses, comes new opportunities for businesses to learn from it to serve the masses.

REPUX VISION:

The RepuX protocol has a vision to facilitated monetization of data through effective transfer among developers, collectors, and users. It will also allow the evaluation of data safely and trustfully. The developers will be able to create and transfer their data to the collectors to generate products and services which will reach the end users in the form of exchange for RepuX(RPX) tokens.

FEEDBACK AND REPUTATION:

The economy is built on trust and the centralized distribution of power has not allowed the small businesses to build a reputation globally. Similarly, the data is also not considered useful until it is from a recognized authority. Therefore, to solve this problem, the RepuX protocol will enable rating and reputation to each trade in it.

RPX TOKEN USES:

  • SALE AND PURCHASE OF DATA: The holders of the token will be able to sale and purchase data. The holders will get the payment in the form of RPX tokens. Value-added contents and raw data can also be sold and purchase using RPX tokens.
  • ATTACHING REPUTATION: The RepuX protocol will allow the users to give a reputation to each other after any type of transaction. This will help in knowing who is trustworthy. And if there is any dispute or reputation is found incorrect, the users will have to provide proper evidence for verification of the Oracle system.
  • RUN THE ORACLE NETWORK: To approve the transaction or reputation rating by the oracle, the token holders can put their token for voting in oracle system.by doing this the holders will be awarded a nominal fee of 0.5% payment in the form of RepuX tokens. This type of voting system will help in eliminating the fraud transaction give reputation and reward to other users.
  • BUILD OWN APPLICATION ON THE TOP OF THE NETWORK: It will allow the holders to develop their own application on top of the RepuX protocol. This application can be used for large storage of data for business, research, etc.

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