REPUX : Decentralized Data Marketplace Project

In the modern era of computing, companies generate and deal in a lot of data. Large corporations have dedicated departments and sections that scour and analyze the data to gather information related to its clients preferences, trends, areas that could require revamping to increase efficiency etc. Small and medium enterprises do not have budgets and time to sift through all the data and make decisions that will make impacts in business operations.

On the other hand, there are developers of artificial intelligence and machine learning software that need all kinds of data to process and analyze in a format that is useful to the organizations.

What is Repux?

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)2, Sia3, Ethereum4, EOS5, 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.

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.

RepuX 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.

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.

How it works

It is easy as 123. You as a business owner sell your data, of course anonymized and protected, for this data you get repux tokens. Next step is developers buy this data to train machines and sell back intelligent applications for better business solutions.

In easy words it is win-win situation, business sells data, developers are happy to get data and train machines. All this data goes via Repux protocol, so it will be safe for both sides. And developers can sell applications and algorithms back to business, so business can improve.

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.