The modern day startup should make every waking decision based on data. The problem is that most startups not only do not collect or use data properly, the ones that do don’t know what to do with it. Even with dashboards and third-party software, the analysis is typically limited to smaller data sets and does not provide actionable business decisions.
Enter Repux. Repux is an innovative startup looking to change how businesses use data by allowing them to sell it and then buy it back after it has been properly analyzed. This alleviation of a huge pain point will inevitably help a vast number of SMEs around the world.
We caught up with Tomasz Tybon of Repux to learn more.
1. Tell us a little bit about yourself:
This Is Tomasz Tybon, Chief Growth Officer of Repux, a marketplace that lets small and medium sized businesses sell anonymized data to developers. I am responsible for growing the Repux Platform in a sustainable manner.
2. What problem is Repux solving?
We are focused on the issues surrounding big data (sales, product, financial, etc). More specifically, we aim to make use of data owned by small and medium business and make it available to interested parties through the creation of a marketplace.
The data can then be used to create decentralized AI applications and insights that can improve these business operations. These applications can include inventory management software to predictive analytics to machine learning. We are excited to see the new edge cases that will come from the application of business data that is unlocked.
3. What security is in place to ensure the data is safe?
It will be up to the business to ensure that the data being upload is legal and that they have ownership of it. We require that the data be anonymized prior to being uploaded through the use of our plugin, API or by the business itself. If the data being uploaded is found to be false, we will block access to it through a multi signature decentralized storage process.
4. What was your inspiration behind Repux? How did it all start?
The project started when our team realized that no company has ever attempted to gather the information of businesses in a comprehensive manner that can actually change businesses. Traditional companies like Sales Force still lack a holistic view. If we have a holistic and big picture view of a business from its data, developers will be able to improve these businesses in ways that were unimaginable before.
5. What is your competitive advantage?
Our biggest advantage is the live platform, which speaks for itself. In this industry, many companies and ICOs do not have a working product or platform when crowdfunding. We do and that is largely due to our team, which has decades of experience with big data, SAAS, and logistics. The team has also worked tirelessly to gain distribution deals in place to help with growth. One such deal is with WorkHQ, giving access to thousands of SMEs in China.
6. What is the biggest problem currently in the market?
There are a few issues. For one, there is a massive gap with small businesses and the data they have. Not only is that data valuable, it is the foundation in which a company’s strategy should be focused. Before Repux, the market did not have a platform for SMEs to upload data and more importantly, understand what that data represents. Current market options are burdensome, complicated, and lack a simple process.
7. What does 2018 have in store for you guys?
In the short-term, we will be launching a token sale on February 6th, 2018 through March 9th, 2018. We hope to expand on our current community and spread the value of Repux.
In the long-term, we will be looking to allow developers to be able to consume the business data in real time by June and then launch the first decentralized applications on the Repux platform. We intend to integrate with legacy business systems like ERP or Oracle to ensure an easy flow of data out onto Repux.
Shruti Gupta is a writer, marketer and outreaching expert .She writes about technology, startups & other niches. She has contributed to a number of famous websites like Thenextweb, Deccanchronicle and Crazyegg. Stay tuned with her at:@shruti_gupta01 or via Skype : shrutigupta2811
