Massive amounts of data are produced every year by businesses of all sizes, but in very few cases is the full utility of that data ever realized. Repux offers a secure, blockchain-based marketplace for businesses to sell the data that they create. The data is then purchased by scientists in the Artificial Intelligence field, who analyze it in order to train their AI algorithms.
The use of blockchain assures that the only people with access to the data are the creator and the purchaser. The analyzed data is then offered back to the original businesses, who can purchase it in order to make data-driven decisions that will help them increase profits and expand their businesses.
Though there are many use cases where this is beneficial to businesses, it is particularly helpful for small businesses who sell their products through online marketplaces such as Amazon or Shopify.
Users of the Repux marketplace use Repux tokens for their transactions, and Repux plans a token sale to begin in February 2018. At the same time, they will focus on improving security features, and making sure data sets are useful.
Tomasz also discusses the future of data and blockchain integration.
For more information, visit www.repux.io.