The current data ecosystem is broken for both consumers and internet users. In a bid to correct the situation, the GDPR (General Data Protection Regulation) will be officially role out in May 2018. What does this mean? It means companies have to rethink how customer data is acquired and managed. The law requires complete consumer consent, increased privacy, awareness and tighter security. This is why Apex is a vital platform to know about and use.
What is Apex?
Apex is a blockchain-powered data and interactions exchange. The exchange passes value and data ownership back to consumers and increases marketing effectiveness, customer loyalty and data quality for the enterprise. The platform aim is to shift the power of data into the hands of the consumers. They want to give consumers opportunities to be the ultimate owners of their identity and data. This will allow Apex to cut out money and resources wasted through middlemen and pass the value on to both enterprises and consumers.
Core features of Apex
Apex platform has 2 core features, the CPX wallet, and the Nexus.
The CPX (Consumer Client App) Wallet.
The Consumer Client Application (CPX) wallets is a rewards wallet designed to pass the value back to consumers whenever their data is used. The core functionalities of the CPX Wallet include:
- Price and rewarding-setting
- Offer and rewards discovery
- Data permission control
- Reward Wallet (CPX)
- Messaging inbox.
Nexus (enterprise Client App) is an APEX module within Nexus, which is an already existing enterprise customer data platform. Nexus core functionalities include:
- Target data scope management
- Cost management, rewards, and offer management
- Notification management
- External integration management.
Timeline and roadmap
Apex plans to reach greater China + Hong Kong in the first and second quarter in 2018, which is the first stage. The second stage will take place in Q4, 2018 which is reaching Japan and South Korea, stage 3 will happen is 2019 and include accessing Singapore and sourest Asia.
The Apex ecosystem is expected to use CPX token for value. The CPX can be used for purchasing products, rewarding, and gifts and for coupons which are all included in the value. It can also be used for cash, data, interaction, and actions on the ecosystem.
Apex was founded by CEO Jimmy Hu. The team includes CTO Richard Wang and an advisory team led by Dr. Laurent El Ghaoui. The Apex and Chinapex are located in Shanghai, China, but also has a branch in Hong Kong.