What is RepuX?
RepuX is a decentralized big data/AI business applications protocol for businesses. We allow developers to utilize this data in a decentralized fashion to develop decentralized applications and algorithms to sell back to these businesses within our platform.
— RepuX Team
ICO Alert Quick Facts
- RepuX monetizes data from millions of small enterprises.
- 0.20 = 1 REPUX token
- March 4th, 2018 — April 5th, 2018
- 250,000,000 total available / 500,000,000 total supply
- RepuX live marketplace is already online.
Q&A with RepuX Team
ICO Alert: For those who are not familiar with RepuX, can you explain what it is, and what the team aims to accomplish?
RepuX Team: RepuX is a decentralized big data/AI business applications protocol for businesses. Businesses have a lot of data but lack the resources to be able to utilize this data to improve their business operations. We allow developers to utilize this data in a decentralized fashion to develop decentralized applications and algorithms to sell back to these businesses within our platform.
ICO Alert: How does the RepuX (REPUX) Token function within the platform and why is it needed?
RepuX Team: RepuX token functions as the only way of exchange of value within the platform and is needed because of several reasons: 1) We do not wish to be linked to the price of Ethereum for transactions 2) We will be building a layer on top of Ethereum to bypass the scalability and congestion of the Ethereum network with the volume of business data and applications that our platform would have.
ICO Alert: How do you plan to attract small and medium-sized enterprises to the RepuX data platform considering many of them may be unfamiliar with how they can benefit from exporting or importing their data?
RepuX Team: We will eventually be making it seamless through software integrations with financial software or ERP software so that data upload happens effortlessly. We will be primarily be working with businesses that have a large substantial business customer base. Also, the applications that will eventually be built on top of RepuX will propagate amongst the SMEs through usage, similar to Slack and Dropbox.
ICO Alert: One of the main concerns of your white paper is establishing the RepuX platform on data integrity and security. Can you explain how you will implement an Oracle system to help achieve this?
RepuX Team: All data put into the system will be encrypted, and decryption keys will be stored in a multisig smart contract. One will be kept by us (in case we have to take down some illegal content), one by the seller, and one by the buyer. Consensus of all three parties will be needed to download and decrypt the file. Also, we are considering the usage of a network like Sia, or building a similar one of our own, for storing data in a decentralized manner by incentivizing nodes to host files. Ours would be specifically built for business data.
ICO Alert: There are some excellent hypothetical examples of use-cases in your white paper. Have you explored any real-life partnerships in any of those categories?
RepuX Team: We have done a case study of an online Amazon merchant that sells tens of thousands of dollars a day and uploaded their data to RepuX. Developers were able to develop insights on how to improve their business performance by providing suggestions on when to send follow up emails, promo codes, or advertising that better engages with their customers.
ICO Alert: What are your thoughts on exploring alternative blockchains for the RepuX protocol such as Proof of Stake (PoS) or Proof of Work (PoW)?
RepuX Team: We’re definitely investigating the possibility of utilizing a Proof of Stake protocol to reduce the fee for miners and to speed up transactions. We’re paying close attention to Ethereum’s Casper project and considering setting up own hybrid system with our own PoS blockchain for transactions and Ethereum for payments.
ICO Alert: Can you tell us more about the RepuX Foundation?
RepuX Team: The Repux Foundation serves to provide timed monthly payments to RepuX to fulfill its project of creating a decentralized big data/AI business applications protocol for businesses.
ICO Alert: Your website mentions some major Chinese partnerships. Is there any more information on that?
RepuX Team: We have channel distributions in place, particularly with WorkHQ, which has signed on with government-related entities to distribute WorkHQ in return for revenue share — meaning businesses would be able to upload with the click of a button. This would allow us to scale much more quickly at a fraction of the traditional cost of outreach to businesses.
ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
RepuX Team: We have a live marketplace now at
marketplace.repux.io where business data can be transacted in a decentralized manner. We will be looking to have APIs ready for developers in June and business applications live on our platform by November.
Our first priority is signing up businesses to contribute their data in a secure and simple fashion, and then developers would come to monetize this. Our vision is to be the decentralized version of Google Apps for Work, or Sales Force. Large tech giants currently do not have access to a wide spectrum of business data, and we believe that our approach to decentralization will unlock a lot of value from the innovation that can occur.
ICO Alert: As a non-RepuX question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?
RepuX Team: We believe we will see that there will be more quality projects established from existing businesses and that the number of ICOs will actually decrease as the cost of creating a successful ICO becomes too prohibitive for a startup to pursue.
The Pre-ICO began on November 17th, 2017 and ended on March 5th, 2018. There were a total of 100,000,000 RepuX tokens (REPUX) available during the Pre-ICO, representing 20% of the total REPUX supply.
During the Pre-ICO, the minimum contribution was 30,000 USD. Purchasers were awarded a 50% bonus.
The main ICO began on March 4th, 2018 and will end on April 5th, 2018. There are a total of 150,000,000 RepuX tokens (REPUX) available during the main ICO, representing 30% of the total REPUX supply. A hard cap of 30,100,000 (USD) is set for this period.
During the main ICO, the minimum contribution is 100 USD.
0.20 = 1 REPUX token
Current accepted currencies for RepuX include BTC, ETH, or Wire Transfer.
There are a total 500,000,000 REPUX tokens being created, with 250,000,000 available during main ICO.
RepuX is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the RepuX tokens.
Contributors will have their tokens distributed shortly after the end of the ICO. Visit the RepuX website for more information and the contribution address.
Use of ICO Proceeds
Source: ICO Alert