RepuX - Decentralized Data & Applications Protocol For SMEs
What is RepuX?
“RepuX will allow for data sharing and value creation opportunities among data collectors, application developers and data users which do not exist in the current marketplace.”
RepuX is a protocol level framework (the “RepuX Protocol”) on which various types of immutable data can be commoditized and exchanged among different corporate and individual collectors, developers and users. The RepuX Protocol combines multiple decentralized technologies such as InterPlanetary File System (or IPFS)2, Sia3, Ethereum4, EOS5, and offers the potential to upgrade to a custom high-throughput blockchain. By facilitating the transfer of data and value between peers, the RepuX Protocol creates data sharing possibilities among data collectors, application developers and data users which do not exist in the current marketplace. The RepuX Protocol would provide the opportunity to data producers to create value in their data through facilitating the provision of this data to users in multiple industries, while eliminating the need for intermediaries in this process.
With the development of the RepuX Protocol, RepuX is well poised to take advantage of the reliance of machine learning, big data and artificial intelligence on large-scale aggregate data and to drive innovation in these respective fields. By evaluating the reliability of each entity and each transaction with respect to the data, and with verification by an oracle system, we can ensure integrity within the RepuX Protocol and provide data users with greater confidence in the content and quality of the data they are purchasing.
The technology of the RepuX Protocol can be broken down into 4 separate layers.
BREAKDOWN OF THE REPUX PROTOCOL
The application layer is at the top of the RepuX Protocol. This front-facing layer consists of various decentralized applications, or Dapps, that third-party application developers can build on top of the existing RepuX API infrastructure. An example of this could be a service that allows individuals or entities to sell social media usage data in exchange for accessing a website.At the base of the RepuX Protocol, we build a value layer, which powers the layers above and ensures that people are compensated appropriately for what they do within the RepuX Protocol. We have created the RepuX Token as part of this value layer to allow parties to send value payments between one another for purchases and sales of data and other goods and/or services.
The next layer of the RepuX Protocol is the data layer. This layer consists of all the data that can be purchased and sold within RepuX. By storing the data layer within a decentralized infrastructure such as IPFS, StorJ8 or Sia, we not only ensure the existence of the data, but also ensure that the data is stored in a decentralized fashion.
In order to handle transactions occurring on the data layer, we employ a decentralized logic layer. This layer could be built on top of the existing Ethereum infrastructure; however, we are also exploring the use of EOS, or a custom blockchain infrastructure that could potentially scale to millions of transactions.
Application Layers and APIs
Blockchain leverages a peer-to-peer network to govern transactions and interactions across a distributed community, and manages this governance through a decentralized ledger that benefits from having a distributed computing infrastructure and a common protocol, making it very difficult to create a fraudulent transaction. With blockchain and decentralization, every entity is incorporated within the process and no one single entity has control over all of the process.
We designed RepuX, from the beginning, to create an application programming interface (or API) where any application developer can work on the RepuX Protocol. This malleable protocol means that RepuX is not designed for one specific purpose, but rather to permit developers to build upon it for the potential benefit of many different industries.
We intend to use easy-to-use Web3.js + Metamask APIs that will allow third parties to easily access and rapidly build external applications upon the RepuX infrastructure. In addition to easy-to-use JS APIs, we can also enable more application-based APIs that third parties can use to develop upon.
In order to ensure user data is stored in a decentralized fashion, we will use a number of different technologies. In this White Paper, we describe an IPFS1 based infrastructure utilizing IPFS hashes. With the RepuX Protocol, we use IPFS in order to maintain the database of data referenced by hashes in our logic layer and APIs. By using IPFS, we not only ensure the decentralized nature of our data but also ensure that the data is permanent through IPFS hashes.
What is IPFS?
InterPlanetary File System (or IPFS) is a protocol designed to create a permanentand decentralized method of storing and sharing files. It is a content-addressable, peer-to-peer hypermedia distribution protocol. Nodes in the IPFS network form a distributed file system. IPFS addresses pieces of content by a unique “hash”. IPFS enables the creation of fully decentralized technologies that can connect all computing devices within the same file system. IPFS is similar to how a bit torrent swarm exchanges information, in a decentralized yet organized way.
RepuX Token Sale
Pre-Sale and Token Sale
RepuX Tokens are an integral part of the function of the RepuX Protocol.equivalence of one RepuX Token being equal to $0.35 .
RepuX will have a pre-sale of rights to receive RepuX Tokens at a future date which is being made available to “accredited investors” through a Simple Agreement for Future Tokens (the “Pre-Sale”). The pre-sale will go on through December at a 50% discount to the base rate of $0.35 (the “Base Rate”). Any interested accredited investors can learn more by contacting RepuX directly at [email protected] and download the blank SAFT at repux.io/saft.html .
RepuX is scheduled to launch the Pre-Sale in November, 2018 and the Token Sale in Jan, 2018. The Pre-Sale will be open until January, 2018. The Token Sale will be offered in 5 tranches, with the first at a 40% discount to the Base Rate, the second at a 30% discount to the Base Rate, the third at a 20% discount to the Base Rate,the fourth at a 15% discount to the Base Rate and the final at a 10% discount to the Base Rate. We will be launching RepuX Tokens with a fixed supply of 500 million tokens to be allocated as set forth in Table 2 under the heading “RepuX Token Sale – RepuX Token Rates and Allocation”. The market exchange rate between RepuX Tokens and Ether for the Token Sale will be based on an
In order to engage in data transactions on the RepuX Protocol, a data collector, data purchaser or third-party developer must acquire RepuX Tokens.
The ERC20 standard provides a common interface for digital assets on the Ethereum blockchain.
The RepuX Token adheres to the ERC20 token standard, which means that RepuX Token holders can easily manage and transfer their RepuX Tokens using existing Ethereum wallet applications (e.g. Parity, Mist, MyEtherWallet, etc.), and that the RepuX Tokens can be readily traded on token trading platforms.
The ERC23 standard is a new, backwards compatible, token format designed to solve some of the existing issues of ERC20, such as:
• handling of incoming transactions from the receiver contract;
• ensuring that transactions for one token will not be received by the receiving contract of another token; and
• ensuring uniformity within Ethereum such that the transfer() function is called for both contract and account deposits.
While compatible with ERC20 standards, the RepuX Token also implements the more robust ERC23 token interface.
ERC23 Interface Implementation
The above contract implements the ERC23 token interface. Its key feature is that user wallet addresses and contract addresses are differentiated and treated differently in the transfer function. When tokens are transferred to contract addresses, it requires that the contract implements the token fallback function.
This is a significant improvement from the ERC20 standards, as it prevents losses
caused by sending tokens to contracts by mistake, and also allows receiver contracts to handle incoming transactions.
ERC20 interface implementation (backward-compatibility):
The above contract extends the ERC23 basic implementation and adds in the functions required in the ERC20 interface (transfer from, approve allowance), so that the RepuX Token is backward compatible.
RepuX Token Rates and Allocation
As the goal of the RepuX Protocol is to have users be as in control of their data as possible, RepuX has designed the Token Sale in a decentralized fashion. This allocation might be subjected to change depending on the pre sale amount and would be finalized at the conclusion of the pre sale.
Table 1: RepuX Token Rates
Table 2: Planned Allocation of RepuX Tokens
Use of Proceeds
RepuX expects that a substantial amount of all of the proceeds of the Pre-Sale will be used to progress the development of the beta platform release of the RepuX Protocol and the RepuX Token ecosystem.
All outstanding RepuX Tokens will be managed by the RepuX Foundation. The RepuX Foundation is an Isle of Man non-profit organization established in October 2017 with offices in Douglas, Isle of Man, British Isles. The RepuX Foundation was formed to safeguard the RepuX tokens and funds raised through the ICO on behalf of RepuX. RepuX is committed to community engagement and sponsoring user participation within a world of decentralized data. The RepuX Token and associated network and marketplace all use trade secrets and intellectual property either created, owned or licensed by the RepuX Foundation.
RepuX APP Mockup
Below is a sample interface where users can interact with the RepuX Protocol.
MOCK UP INTERFACE FOR THE REPUX PROTOCOL
We expect that we will be ramping up very quickly over the coming months. We have completed the specification of the RepuX Protocol level framework upon which various types of individual and entity data can be monetized and exchanged between different parties. We will be using our own Ethereum smart contracts and RepuX Token distribution web interface for our Token Sale planned for January of 2018.
In preparation for the Token Sale and beta platform release, we will be making a major distribution announcement in early December.
Once the Token Sale is completed, we will be able to provide infrastructure to our Enterprise Integration partners for use in their token offerings and our immediate priority will be to hire a larger C-level executive team and complete our first Enterprise Integration with WorkHQ.
Our philosophy is to initially test the tools we have built internally and with our Enterprise Integration partners. We will then roll out our RepuX Protocol to the public when it has been thoroughly tested.
20 years in IT in total. 12 years’ background in programming. Lead departments of up to 100 people. Like to build projects from scratch. Extensive business skills in warehousing, logistics, supply chain, e-commerce, inventory management, erp, crm systems.
10 years’ experience in SaaS industry with marketing, sales and product development. 6 years’ experience in ecommerce, building the country’s biggest brand and expanded it to India & Turkey. Served as CMO, COO. Scaled Annual Recurring Revenues 30x.
Over 10 years of experience working as Business Analyst in projects for banking, public administration and telco sectors. Worked for national census data analyzing, processing and reporting. Big Data enthusiast having in-depth knowledge of Business intelligence and Data Warehouse systems.
5 years of frontend experience and 1 year of consulting for USA company. Course author for Packt Publishing about React, Vue and Angular. Top 3% StackOverflow contributor with 12,000 reputation. HackerNoon author, HackHands expert, Ember teacher.
10 years of experience as a Senior Software Engineer for companies like Procter&Gamble (Bruno Banani, Mexx, Tom Tailor, Puma Fragrances, Replay), Philips, Bigstar, Hipp, Always, Tchibo, Konica Minolta, Crunchips, Plus, Sygnity, Allegro.
Senior User Interface Engineer with over 15 years of experience in Media and FinTech industries. Specializes in modern web technologies with focus on performance, user experience and code quality.
Over 4 years of experience as Fullstack Engineer (JEE, PHP & JS). Contributed to number of projects including the biggest European digital currency exchange platform and Marketing Automation software.
6 years of experience as a Senior Android Engineer in e-commerce industry. Worked with the usage of machine learning, image recognition, augmented reality, Bluetooth beacons & location solutions technologies for mobile app development.
13 years of experience as DevOps, Architect, Coach, Programmer, Leader - An unqualified advocate of agile delivery of high quality code. Many years practitioner of programming as per SOLID & TDD rules.
Software Developer. An early entrant into the bitcoin/blockchain arena, contributed on numerous cryptography-related projects, many of which were open-source. Currently, he is specializing on decentralized applications, development based on smart-contracts and stand-alone blockchains.
4 years of experience in the Blockchain world, working on the integration of different Blockchain technologies for projects within the TelCo, Retail, and Finance industries, and more recently in two ICO initiatives. Speaker at various conferences in the UK, Blockchain Practice Lead at Sytel Reply UK and leader of Blockchain training sessions for employees across Europe.
Partners and Advisors
Dr Jay Best
Dr Best is named Top Crypto Strategist UK 2017, seasoned C-level executive and board member, having pioneered deep learning on GPUs at MIT, now spending most time between London, Cambridge, Oxford and Edinburgh as a lecturer, advisor and investor.
Forbes 30 Under 30. COO of the Opus Foundations - music streaming platform based on Ethereum and IPFS. Advisor to many blockchain based projects running his own Ethereum focused software development company.
Lee has over a decades’ experience in international corporate structuring and regulated businesses. Lee is especially adept at dealing with new sectors, obtaining regulatory approvals and sourcing/designing banking solutions for sectors that are considered high risk. This has led Lee to widening his scope of technology expertise to the Blockchain sector, where he was the lead advisor to the first blockchain gambling license and is advising numerous ICOs on jurisdictional matters, AML/CFT compliance and post ICO business structuring and growth.
Lee has over 15 year’s valuable experience in the offshore financial industry working in both the Isle of Man and the Channel Islands and is an Associate of the Chartered Institute of Secretaries and Administrators and a Member of the International Compliance Association. Lee specialises in offshore matters concerning company and trust structures with experience in particular with protected cell companies.
Steven is a qualified Chartered Certified Accountant with over 20 years, offshore financial management and control experience. Steven has gained extensive experience in outsourcing projects for banks, law firms, fiduciary, property and trading companies. Prior to founding OrmCo, Steven worked for a Fund Administration company for four years, managing the finance function for several fully listed and AIM listed companies quoted on the London Stock Exchange. Steven has also gained valuable experience working for two of the ‘Big Four’ accounting firms.
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