“Data is the new oil…” is printed on top of RepuX’s site and it amply describes the goal of the newly formed company. RepuX aims to revolutionize the data industry and provide large data samples to Small to Medium Sized Enterprises (SMEs).
It intends to do so by providing an incentive to everyone involved, the corporations can produce the sets of data and sell it for RepuX tokens (REPUX). The SMEs can buy this data and make meaningful applications through them and sell them back to corporations.
RepuX intends to create an open platform that would become the world’s leading data sharing platform. Data is widely used for creating smart apps, however, there isn’t an efficient way to gather data. This is especially true from SMEs. RepuX wants to strike this market and provide best quality data sets to SMEs to allow them to create good applications. The data will be sold on the platform using the REPUX tokens, which is based on Ethereum’s blockchain.
Use of Blockchain:
REPUX tokens adhere to the ERC20 standards, which will allow the RepuX’s customers to easily share tokens through the existing Ethereum wallets, among which: Parity, Mist, and MyEtherWallet, among others. RepuX Protocol combines the technologies of multiple decentralized applications, which includes InterPlanetary File System (IPFS), Sia, EOS, and of course, Ethereum.
RepuX’s whitepaper has been expertly crafted and contains all the necessary information that an investor would require in making a decision. All the references are provided, and the paper clearly explains the goals and ambitions of the company. After reading the paper, one can reach the conclusion that the company has thoroughly planned their project.
The project is in “Pre-sale” phase and all seems to be going according to plan. There is a timer on their website that counting down until the official public ICO starts. RepuX will also be creating an application for the users, however, it is still not released.
At the very start of the whitepaper, in section 19, the team clarifies that their tokens are not to be considered securities. However, in section 20, the team clarifies that the information in the whitepaper has not be approved by any regulatory authority. They further state that the publication does not imply that the applicable laws and regulatory requirements have been complied with.
Company and Team:
The co-creator of VeriCoin, Douglas Pike is a part of the RepuX’s team. VeriCoin has enjoyed a 44% gain in the last month and the addition of such an experienced individual in the team, provides RepuX with a certain level of legitimacy. The team consists of 11 individuals from different spheres of the industry.
The team is offering a total of 500,000,000 tokens. 100,000,000 of these tokens are being offered in the pre-sale phase, which will last till 5th March 2018. 20% of the tokens will be sold in Presale while 30% will be sold in the official token sale and the rest will be distributed
RepuX is not widely recognized in the crypto industry and although the idea of creating a platform for selling data sounds good, not many are interested in it yet (yet).
The risk of unforeseeable regulations is always there. As mentioned in the whitepaper, their technology and product has not been approved by any regulatory authority. This can lead to unwanted issues with the regulatory departments.
The team has provided some of the code that will be used to carry out transactions and in other processes. We can conclude from it that the team has made ample effort in preparing for the project.
The platform will be one of the first one that provides companies with large sets of data that can be used for machine learning, smart applications and Artificial Intelligence.
Target User Base:
The project is directed towards SMEs that do not have the good quality of data sets right now.
There are other companies that provide data sets, however, RepuX is the first of its kind as it provides data sets through the use of blockchain and cryptocurrencies.
They have used the existing cryptocurrency hype to create a data platform. They are also using the Ethereum blockchain for their technology, so, there isn’t much innovation.
They have no links with any of the exchanges right now.