The REPUX utility token is an Ethereum ERC-20 smart contract which enables users to join the RepuX platform and develop applications that use the datasets available through the protocol. The token also enables the purchase and sale of data packages and applications on the RepuX marketplace.
The REPUX token itself is a utility token that can be used to purchase access to the platform. When a RepuX user holds them in their corresponding ethereum wallet, they can participate in the ecosystem however they choose; as a supplier of information to the platform, developers interested in building new types of distributed applications, or as end users in product development, academia, research and development who have requirements for securing trusted datasets from reputable sources within their respective interest areas or sectors.
Participants in the network and protocol will be rewarded with REPUX ERC-20 tokens, which can be used to pay for access to the platform. The tokens can also taken off the platform and held on ethereum wallets. These tokens can allow companies or organisations sitting on large amounts of datasets to anonymise them, and make them available to others to generate incremental incomes and/or contribute towards paying for data storage costs. Developers can sell applications they have built by combining datasets through the protocol to companies and individuals interested in their particular applications.
The decentralized nature of the REPUX platform enables different parties to be connected. For example, an e-commerce merchant can share its data with a developer who can then use to create data-driven insights that will ultimately support the e-commerce merchant in making the most cost-effective purchasing, advertising, and marketing decisions. More specifically, a developer could build an AI system that informs the seller when to restock inventory based on size, color, or design.
You can find out more about the REPUX blockchain-based, decentralized Data & Application Protocol and our development roadmap by visiting our main website and joining the mailing list at repux.io, reading our White Paper, following us on twitter @REPU_X, liking us on Facebook, subscribing to YouTube, and following REPUX on LinkedIn.
Haven't found the answer to one of your questions in the FAQ? You can always reach out directly to the REPUX team: The REPUX Telegram group is manned by core members of the REPUX team, as well as the direct chat option here on the website!