Last year, Chinese market researchers Redpulse launched one of the most interesting cryptocurrencies in the world. And it’s growing. Fast. The Redpulse (RPX) token experienced a slow start from its release on October 8th, 2017, but in the last 24 hours the value of the coin has skyrocketed to $0.71; an increase of 61.45%.
Let’s have a look behind the scenes. The Hong Kong-based firm have made leaps and bounds in securing their place in the market research arena, and have been providing information to investors, traders and advisors since 2014. It’s well known that the Chinese economy is one of not only the largest but fastest-growing in the world; a combination that makes it very enticing for investors. It’s no surprise that Redpulse has partnered up with the likes of Bloomberg and Thomson Reuters to distribute their intelligence.
But where does all of this tie into cryptocurrency? Many businesses are seeing the benefits of developing one of their own or are considering trading in another, simply because of the glaring benefits provided by the very nature of an online coin; extremely low-cost transactions in a secure environment, records of which are transparent and publicly verifiable. But Redpulse’s ambitions lie a little higher than that.
In their own words, Redpulse is aiming to ‘disrupt the financial research business’, injecting their NEO-based cryptocurrency as a means of payment to analysts and contributors. This, they say, will create a global community focused on a common value, working in the same language. Above all, since Redpulse can manage their own monetary supply, fairness in pricing is guaranteed (or at least at their own discretion) and publicly verifiable if not. In addition, RPX allows users to effectively run tabs with one another, reducing the frequency of payments and subsequently transaction costs. This is especially useful if, as a market analyst, you are selling data to multiple consumers per day. So with a portfolio like that, it’s no surprise that producers and consumers are rallying around the new coin with enthusiasm.
It will be interesting to see whether RPX continues to flourish in the coming days. The big question is why wouldn’t it? As China becomes increasingly overloaded with information, market analysts are finding it harder than ever to sift through. A seismic shift in the way market research is conducted there is inevitable, and a dedicated, community-based currency for such a field is a sure way to mix things up. The way things are looking, Redpulse is onto something.
Featured Image: twitter