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Thursday, March 1, 2018

How the world of data can be opened to businesses large and small - thanks to the blockchain...

Today - data is king.  Businesses both large and small are out to generate more, buy more, and find better ways to utilize it once they have it. They call it "big data" but that doesn't even accurately describe what has become a truly massive global industry.

But just because the data exists doesn't mean it's being put to good use - if used at all.  When someone thinks about "big data" they picture the search engines, social networks, apps, cloud services, etc. 

While small and medium size businesses may be gathering data too - understanding how to analyze it, learn from it, and apply the knowledge gained from it to make smarter business decisions can be an overwhelming task for a company with a couple dozen employees.

Well, imagine a marketplace where big data and small/medium businesses can get together, to help eachother - and actually want to because there's incentive for both.  That's what a company called Repux has built.

Companies are gathering this valuable data but they don't know how to monetize it, in the Repux marketplace, they can now find a buyer.  Businesses can upload anonymized data sets, and through agreements secured via smart contracts, sell those data sets to the developers who need it. The developers can then even choose to sell their work back to small business for them to utilize, completing the circle that never would have been done without this partnership: gathering, analyzing, using. A process the best businesses do continually.

“The RepuX Protocol has the potential to eliminate the ‘digital divide’ between those who have easy access to machine learning datasets and those who don't” explains the company.

Also something we like to hear - Repux is already in motion! The platform is live, and being tested with 4 companies on the pilot program - WorkHQ, FungyuCPA, and Dascom which collectively represent a reach of millions of small/medium businesses.

“Data has always been something that SMEs have struggled to utilize to improve their business. So, in June of 2017 we developed this concept to create a decentralized storage system for SMEs and developers to collaborate together. We then started working on a platform, which is now live.” says Tomasz Tybon, co-founder and chief growth officer for RepuX.

The Repux token is an ERC20 token, and is the only method that will be allowed for all payment exchanges on the platform.

Their ICO is live now until March 9th - full information at https://repux.io

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Author: Ross Davis
San Francisco News Desk