Even though Chinese regulators and banks are not exactly in favor of cryptocurrencies, they do see merit in blockchain technology. As such, there are quite a few blockchain-based projects which aim to tackle this industry. Red Pulse and the associated Red Pulse Token are making an impact in this regard. Their next-generation intelligence and content ecosystem for Chinese markets will certainly attract a lot of attention moving forward.
What is the Red Pulse Project?
China’s economy is the second largest in the world. However, it is a difficult market to make sense of from a financial perspective. That in turn creates opportunities for companies and service providers to bridge the information gap. Red Pulse aims to do exactly that by creating a sharing economy for research and content delivery. It’s an interesting concept that focuses on one of the world’s largest markets.
How Does it Work?
First and foremost, Red Pulse aims to scale the research process. They are in the process of creating a new research content platform which simplifies incentives and compensates content producers for their insights directly. Importantly, anyone can access shared research at any time, in a transparent and convenient manner. This is where the Red Pulse token, known as RPX, comes into the picture. We will discuss this token later on in this article.
Creating a platform to empower research content creators will not be easy. Even though Red Pulse mainly focuses on China’s capital markets, this platform will eventually go well beyond that sector, resulting in a global community of colleagues. Editorial oversight is also present, as research producers will need to be thoroughly vetted before they can make any official contributions. Whether or not this platform will ultimately provide valuable Chinese market insights has yet to be determined.
So far, it seems the Red Pulse platform has been well received by Fortune 500 companies and several financial institutions. All Chinese market news is aggregated automatically, which allows analysts to curate the information. The culled information is then analyzed for relevancy and future impact on China’s markets. With the client-only web portal, accessing Red Pulse is quite easy, as all information updates in real time. There is also a mobile app for iPad and iPhone with push notifications to keep an eye on.
How is the RPX Token used?
Even though this platform seemingly has little to do with cryptocurrency, that is not entirely true. The RPX token was created to introduce frictional transaction fees and create a public system of record for compensation for research content. Additionally, this currency helps build up the Red Pulse community, solves payment scaling issues, and allows for fair and transparent compensation for quality content. It is a system that is working surprisingly well so far, even though it remains a bit unclear whether the value of RPX will ever soar to astronomical heights.
The Red Pulse Roadmap Looks Interesting
The year 2018 will bring some interesting developments to the Red Pulse platform. For now, the team is focusing on WeChat mini-app development, introducing RPX as a monetization mechanism through NEO, and revamping the mobile application. Later this year, the team will launch a new RPX-based open research platform, expand its research in the Asia-Pacific region, and forge more partnerships. It is evident there is a bright future ahead for this project, but there is still a lot of work to be done.