Make money from your data instead of sharing that freely with Facebook - RepuX

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All of us know that creating and using a Facebook account is completely free. So, you may think that Facebook is a great company that helps you to meet and connect with all your friends in one place easily without taking any charges. But, do you know what is the net worth of Facebook in 2017? It was close to 70 billion USD.

Have you ever thought how is it possible to achieve a huge profit within a short time span of 10 years?

The answer is "Data". Yes. In a recent article published the popular magazine, it has mentioned that data is more valuable than oil in the 21 st century. Do you know what kind of data can be accessed from a Facebook account? If the settings are not configured to private, many of your personal information like your photos, location, work-related information etc can be viewed by anyone in the world.

Let's say you have bought a new car and posted that picture on FB. If someone who is a friend of your friend who works in the marketing section of a car insurance company, he/she can see this picture. They will consider this as a business opportunity and contact you for marketing their product/service. That's the reason for the high net worth value of Facebook. Because it is providing a large volume of data in such a way that the businesses can easily extract the necessary information based on their needs.

So, Facebook provides great benefit for businesses to get new customers and to market their existing products/services. What kind of benefit to the data producers (users) get from Facebook? Is someone giving any reward to you for sharing more information on Facebook? No. Users are not getting any kind of reward or money for providing valuable data.

Why don't we go for a solution that provides equal benefits to the data owners as well as the buyers?

That's exactly the objective behind the development of the blockchain based protocol named RepuX. RepuX is basically a protocol framework that will provide a platform for the trusted exchange of data between individual users or corporate parties. The data transfer will be done as P2P (Peer-to-peer) eliminating the middleman or other intermediaries. RepuX protocol aims to build a reputation system within the transactions to provide the data integrity and prevent from unauthorized success. Kindly visit the official whitepaper https://repux.io/white-paper.html to learn more information about the protocol.

RepuX protocol allows the third party developers and businesses to build their own applications using the platform.

To make the data transfer more secure and reliable, the RepuX platform uses the concept of reputation /rating that will be applied to each transaction. In case of any issues with a transaction, it will be passed to the Oracle system. Then, Oracle system will evaluate all the evidence and make a final decision before the reputation is applied to given to the buyer/seller. The only way to access the platform is by using the RepuX tokens (based on Ethereum standard). To know more information about the benefits of RepuX tokens and the procedure to buy them, you can now access the following:

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Thank you for your time,
Jack Andrew