RepuX- MONETISE YOUR DATA
Just like lympo and the rest who are taking the lead in ensuring that you get your cut in the trading of your own data, RepuX is not only interested in the sale of your anonimised data, it is also looks to put value on that data and sell is back to people who stand the chance of benefitting from that value added data. If you ask me, that is how it should be.
HOW EXACTLY DOES REPUX DO THIS?
Their whitepaper is quite technical but I will like to discuss three components I found at play at repux. They are-
- The collectors
2. The developers
3. The users
From their whitepaper…
“ 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
Say you are an avid reader. A publishing company wants to have data on what kind of stories you read and posit which other stories you will be interested in reading (This is done based on the stories you have already read). To do this, the publishing company will need meaningful information and not just the raw data on what you read. With repux, you and all other avid readers can voluntarily download a programme or an app that would give a developer the needed data to be processed into meaningful information that can translate to sales for the publishing company.
With this example, you will see that data is collected from collectors, and processed by developers and used by companies, SMEs and other enterprises (users)who will use that information to up their sales.
That said, trust is paramount in such a system. RepuX ensures this by empolying feedback and the building of reputation. People trust feedback. Four in five American consumers read online reviews before making a purchase decision.
Similarly, data without a certain authority backing it is often considered unusable. This means that fewer and fewer people and businesses are able to sell their data without first going through a middleman. To address this issue, we have enabled the attachment of a rating and reputation behind each trade in the RepuX Protocol.- RepuX whitepaper
Since a rating will be attached to every sale, there choice will like fairly and squarely on the user if the data is reputable or not and the consequence of taking the risk of such a trade will be born by the buyer.
Concerning efficiency, security, and effectiveness, it is a good thing to know that RepuX is still under development and is looking far and wide across the blockchain environment and deciding which blockchain solution will meet its needs.
It should be noted that
Ultimately, we [RepuX] will need to strike a balance between speed and security, on the one hand, and decentralization, on the other hand, in selecting among different logic systems in the final RepuX Protocol.
Their token crowd sale will start in approximately 21 days. Hurry whilst stocks last.
Get in touch with RepuX on Facebook, Twitter, Telegram, Bitcointalks, reddit and GooglePlus. Don’t forget to read their whitepaper on more about risks and many more technicalities invoved in the realization of RepuX.
As ususal, invest wisely in crypto-business!
Merry Cryptoing folks.
