I plan to attract business by offering a real-time data terminal as Repit's MVP. By providing a feed of raw receipt data from the companies POS systems. That company is then able to access a well formatted and useful display of data using a subscription-based model for monetization. The problem with big data is that its useless without Big data analytics tools and a substantial computer to query, calculate and display the data. Using a distributed system (blockchain) computing power is not a problem. And using The Repit Terminal provides basic big Data analytics. By providing Business with the Repit Terminal Backed By the RDDN (Repit Digital Data Network), we enable them to make agile business decisions and see the effect in real-time.
Many businesses have to collect, format and analysis their data in-house but by using Repit they are able to forgo the cost of building and maintaining such a system.
The other side of Repit is for Consumers. We format and distribute consumer receipt data for free. Many companies have switched to e-receipts but that does nothing for the consumer. Consumers need a receipt platform that can aggregate raw receipt data. This would allow consumers to perform performance analytics on the purchases. Imagine knowing how much money you have spent on bananas in your entire life and be able to create data backed grocery list. You would be able to track your own preferences and provide this data to third party applications so that they serve you better.
Marketers want consumer data for performance analytics. Marketers need this data in order to evaluate what campaigns and strategies work on a targeted group of consumers. By providing a marketplace in which consumers have control over there data. marketers could simply pay consumers for access to their personal data feed.
I know what your thinking what about privacy?
Well, Receipt data is considered public data. We simply don't store the consumers information instead we hash it with the location of the raw data and store it on the blockchain this ensures that only the consumer is able to locate their specific data and business access to the pool of raw data. In other words, only the consumer knows what the data looks like and is able to pick it from the crowd.
This model is contrary to current data brokerage models where the consumer can opt out. We believe by allowing consumers to opt-in and also use data tools we create a better consumer experience database.
We create a network of business that upload receipt data.
We format and store the data while mapping to the individual consumer.
Create a Terminal to analyze raw data. (pay to play)
Provide free consumer platform for storing and analyzing personal receipt data.
Append marketplace where Marketers can request and pay consumers for access to profile and raw data feed. ( repit takes a cut )
build other SaaS products as the network grows.
More to come!