RepuX and the Possibility to Monetize Unused Data

Februari 25, 2018

RepuX and the Possibility to Monetize Unused Data

In case you have been dealing with abundance of data and they go into a waste, why not monetizing it? It is the new idea behind RepuX platform creation, designed to help industry grow from many available data. The mission of this platform’s development team is to provide a place for data transactions. It creates its own unique market section and business target, beneficial for future reference.

Data Rush Trend

Still remember the old days of gold rush? Everyone was suddenly having a gold fever rush, creating a market for gold and its value. Over the years, gold has been considered a precious gem with high price and valuable standard. A few decades ago, we had the oil rush, which was just the same as the gold rush. Oil was considered the most valuable and expensive commodity – earning its title as the black gold or liquid gold. It means that oil was as valuable as gold.

What’s the similarity between these two cases? They are showing a rush trend, where they become the major importance of the world and create an important existence in the industry. Aside from the hippest rush booming, they also show the increased value and price of the two commodities. Up until now, gold and oil are still important element in business world and also financial sector.

Because we are now living in modern world where technology plays a crucial role, data is somewhat the new oil. Yes, there is data rush trend where unused data can be observed, analyzed, and used for developing more technologies. Does it mean that all data can be used? Not really because the useful ones are coming from small and medium industries only, generally known as SMEs.

How the System Works

Small and medium companies generally produce quite a lot of data. In 2015 alone, it is predicted that around 10 trillionGB has been generated. For businesses, these data may no longer important or needed. In general cases, they will be discarded by SMEs. Not many people realize that such data can be used for many things, like analysis or even software development. Developers like to use discarded data for machine algorithm, especially Artificial Intelligence learning device. Small businesses can make use of this opportunity to develop a chance competing against world-class giants like eBay, Facebook, Amazon, or Google, just to name a few. Unfortunately, not many of these small business establishments are clever enough to see this opportunity.

This is where RepuX is coming to the surface. The development team is creating a place, more like a market, where data transaction can be made and generated. It seems like an impossible thing to imagine that data can still be used for analysis. However, software developer can develop research, including knowing specific needs from business sector. From the given data, recognize the needs, address the problems, provide solutions, and come up with the right applications.

Although everyone can join, this platform is especially designed for users, developers, and also data collectors. Since data can be monetized, it requires a special place where transactions can run and be exchanged safely. After all, with data rush trend, it is a guarantee that data has its own valuable pricing. This platform also uses mutual transactions, which can be generated to create secured infrastructure operation. In the end, easy API (Application Programming Interface) can be created through simple execution and reliable development process.

Signing off business agreements for data transaction can be arranged through simple system. Small (or medium) business establishments can sell data, so they get RepuX token as the reward. With the blockchain technology, RepuX implement data reputation and also ratings. From this applicable scale, interested developers can purchase those data and feed off their algorithm with it. From development projects and such thing, developers re-sell the developed API apps to businesses, helping business owners and establishments to make better decision.

Some platforms may have been developed with data monetize focus but RepuX is trusted and reliable because it represents millions of global businesses, especially small and medium ones. The market is pretty huge. World Economic Forum has stated that SMEs has a major contribution to 53% annual GDP, 70% employment, and also 95% business establishments. Sounds like a good deal, right?