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FAQ about the Operations of QEBR

Virtual Medical International, Inc. is traded on the OTC under the trading symbol QEBR.  A current quote can be found at; 

https://www.otcmarkets.com/stock/QEBR/overview

As of October 19, 2019, there are 425,721,541 shares issued and outstanding.

QEBR owns 100% of the following:

  1. Environmental Robotics Limited (“ER”) – owns 100% of the WFOE (Wholly Foreign-Owned Enterprise)
  2. Jinbaixing (Shenzhen) Clean Energy Technology Service Co., Ltd (“Jinbaixing”)
  3. Sheen Boom Investments Limited (“Sheen Boom”)         

QEBR owns significant interest of the following:

  1. Xiaojin County Ruibo Big Data Technology Co., Ltd. (“Big Data”). QEBR owns 40% (through the WFOE).
  2. Jihye Technology Limited (“Jihye”).  (Sheen Boom owns this 51%).  Jihye plans to open and operate a number of Filecoin farms globally, including an initial farm in Hong Kong, which is currently under construction, and subsequent farms in Japan, Korea, Singapore and Toronto, Canada..

The two QEBR operating companies are Big Data and Jihye.

QEBR is also in the business of acquiring hydroelectric plants in Asia and adapting  them to adjunct crypto-currency farms. The Company now owns 40% of an existing farm in Tibet, which hosts 12,000 mining machines and owns and operates a 25MW power plant. QEBR does not own the machines but, hosts them on a lease basis, making a profit on the electricity that it sells to customers.

QEBR is consistently looking to expand operations in China, Malaysia and Thailand through cost-effective acquisitions.

SD Mitchell and Associates

57492 Onaga Trail

Yucca Valley, CA 92284

Learn More About Filecoin

FAQ about QEBR's Filecoin Business

Filecoin is a decentralized storage network that turns the world’s unused data storage (even at a personal consumer level) into an algorithmic market monetized through cryptocurrency, creating a permanent and decentralized future for the web. Miners earn the native protocol token (also called “Filecoin”) by providing data storage and/or retrieval. The miners are incentivized to monetize open hard drive space on Filecoin’s verifiable marketplace for storage, and they are awarded proportionally: the more they store, the more Filecoin tokens they earn.

The Filecoin network achieves staggering economies of scale by allowing anyone worldwide to participate as storage providers. It also makes storage resemble a commodity or utility by decoupling hard-drive space from additional services. On this robust global market, the price of storage will be driven by supply and demand, not corporate pricing departments, and miners will compete on factors like reputation for reliability as well as price.

Filecoin is built around a novel blockchain consensus protocol based on Proof-of-Storage. Clients who want to store files on the Filecoin network hire miners to store multiple copies of their files across the network. Each miner must submit publicly verifiable cryptographic proofs that they are continuing to store the data in order to receive payment and block rewards in Filecoin. Payment and rewards in Filecoin power the incentive structure to guarantee a fair, permissionless, robust, and decentralized storage network.

Filecoin was designed with the goal of ensuring that the most profitable choice of every participant (including clients, miners, investors, and developers) is to act to improve the quality of service for the network.

Filecoin launched an alphanet (a long-running Filecoin network) on September 25, 2019. They are planning on launching a testnet on December 11, 2019. Filecoin has not yet announced a mainnet launch date, but they expect it to be 1-2 quarters after the testnet launch. Filecoin expects to post the exact launch date in Q1 2020.

IPFS (Inter Planetary File System) is a critically needed and anticipated distributed file system that can replace HTTP (Hypertext Transfer Protocol).  IPFS is a peer-to-peer network where people have easier connectivity and form a super-web globally with their own computers, not centralized systems controlled by vast corporations. There is no central node on this IPFS-based web; the resource/data you need could be stored on your neighbor’s device or on the other end of the globe. The resources stored over IPFS could be scattered over the world or more likely be focused in a certain area based on the number of users there. In this area, resources will be even more easily to access with even higher speed.

HTTP is ineffective for today’s internet needs for several reasons:

  • Poor Security: The data breach issues with the current centralized HTTP-based internet are well known with massive data breaches occurring every day; having a centralized system inherently makes the system more susceptible to hacking. HTTP was built in 1991 and cannot handle the amount of data nor the current usage patterns of today’s internet usage, much less the potential uses of the future.  Through its underlying protocol, IPFS allows stored files to be accessed from any point of the world without the obstruction of firewalls, creating a faster, safer, and more open network.
  • Inefficient: Let’s say you are sitting in a lecture hall, and the professor asks you to go to a specific website. Every student in the lecture makes a request to that website and is given a response. This means that the same exact data was sent individually to each student in the room. If there are 100 students, then that’s 100 requests and 100 responses. By extension, if there were 10 million students, there would be 10 million requests and 10 million responses. Think of all the times that websites get a “denial of service” due to overload.  This is obviously not the most efficient way to do things. A P2P system would be far more efficient, faster and save as much as 60% of bandwidth costs.
  • Unreliable: HTTP also presents a significant problem if there is a problem in the network’s line of communication and the client is unable to connect with the server. This can happen if an ISP has an outage, a country is blocking certain content, or if the content was simply deleted or moved. These types of broken links exist everywhere on the HTTP web.
  • Antiquated for how we use the internet today: HTTP is great for loading websites but it wasn’t designed for the transfer of large amounts data (like audio and video files). These constraints possibly enabled the emergence and mainstream success of alternative filesharing systems like Napster (music) and BitTorrent (movies and other media files).
  • Centralization limits opportunity: The Internet has been one of the greatest equalizers in human history and an empirical accelerator of global innovation. Increasing consolidation of control limits that.  IPFS remains true to the original vision of an open and flat web and finally delivers the technology capable of making that a reality.

 

The technology development firm Protocol Labs released IPFS to the world in January 2015. Since then, IPFS has gained enormous traction in a variety of industries and organizations. By 2016, IPFS grew to be one of the most used and relied on technologies in the Blockchain industry, and hailed by thousands of developers as “The Future of the Web.”

In short, IPFS is highly credible and growing dramatically because, unlike the traditional and centralized HTTP protocol, it is a distributed storage network which will provide the data storage foundation for all blockchain projects in the future and be a great foundation for the development of the entire blockchain industry. Therefore, there is a very promising future for IPFS. It is very likely to become the mainstream data storage in the future and build a faster, freer and more open era of the web.

IPFS is an internet protocol while Filecoin is a decentralized storage project based on IPFS. Both were developed by the same company, Protocol Labs. To put it in simplified terms, the relationship between IPFS and Filecoin is like the one between blockchain and Bitcoin. Filecoin is the incentive system for IPFS, which is a viable decentralized replacement for the current antiquated HTTP system.  IPFS is live while its incentivization system (Filecoin) will launch soon.

With IPFS, individual nodes store data that they consider important; the problem is that there is no simple way to incentivize others to join the network or store specific data. Filecoin is designed to solve this key issue by providing a system of persistent data storage. Under Filecoin’s incentive structure, clients pay to store data at specific levels of redundancy and availability, and miners earn payments and rewards by continuously storing data and cryptographically proving it.

In short, IPFS addresses and moves content; Filecoin is the missing incentive layer.

Filecoin miners can participate in both the storage and retrieval markets to earn Filecoin. In the storage market, miners are paid Filecoin over time as they continue to prove they are storing a particular file. In addition, storage market miners have some likelihood of winning the next block, and earning the block reward and fees from transactions included in the block (similar to block rewards in other cryptocurrencies). In the retrieval market, miners are paid in Filecoin via off-chain payment channels for quickly providing files to clients who request them.

Current data storage solutions, like Amazon and Google, are centralized and therefore vulnerable to attack. Evidence of this plays out on an almost daily rate with high-profile data breaches.  Yahoo: 1 billion accounts breached; Equifax: 147 million people breached; Marriott: 500 million people affected; Facebook: 90 million people breached; the list goes on and on.

In addition to the porous nature of current undistributed data storage, we are all creating massive amounts of new data every year. This year, humanity will produce more data than in the past 5,000 years combined. The demand for storage doesn’t seem to be slowing down.

Filecoin seeks to capitalize on the increasing demand for storage using blockchain technology to coordinate a peer-to-peer network of storage nodes. Unlike potential competitors (Storj and Sia) who all control platform pricing, Filecoin implements a marketplace for bidding between uploaders and hosts. This marketplace is incentivized to make storage much cheaper over time.  Filecoin also gives users the ability to prioritize speed, redundancy, or cost when making their orders.

  1. The world’s storage is vastly underutilized. More data will be created in 2017 than the previous 5,000 years of humanity. Yet around 50% of the world’s storage sits unused — from hard-drives in basements to data centers. Filecoin creates a frictionless market to put this extra storage to work. With significantly more supply, we can drop the price of storage and meet growing demand.
  2. Decentralization creates a better network. Filecoin use of IPFS makes the web faster, safer, and more open due to it being a peer-to-peer hypermedia protocol. Each file has a unique fingerprint called a cryptographic hash. Indexing files by hash allows the system to find and distribute high volumes of data with high efficiency. The peer-to-peer network rebalances and recovers in response to events, keeping data safe and flowing.
  3. Earn Filecoin for hosting files. Users can put unused computer storage to work by becoming a Filecoin miner. They can use the Filecoin mining software to get paid for fulfilling storage or retrieval requests on the Filecoin market.
  4. Exchange Filecoin for USD, BTC, ETH, and more. The Filecoin currency will be traded on a number of exchanges and supported by multiple cryptocurrency wallets, allowing users to easily exchange Filecoin for other currencies like US Dollars, Bitcoin, and Ether.
  5. Filecoin is a token with fundamental, intrinsic value. Today’s blockchains use wasteful Proof-of-Work Filecoin is like Bitcoin, but with hard drives instead of hashers. The novel Proof-of-Replication function creates a useful and valuable storage service as a byproduct of the mining process. Miners are incentivized to be efficient: the more they store, the more Filecoin they earn.
  6. Reliable storage at hyper competitive prices. Clients can tune their storage strategy to suit their needs, creating a custom balance between redundancy, speed of retrieval, and cost. The worldwide Filecoin storage and retrieval markets make vendors compete to offer flexible options at the best prices.
  7. Cutting-edge technology combined with proven platforms. Filecoin is like Bitcoin, but with hard drives instead of hashers. The novel Proof-of-Replication function creates a useful and valuable storage service as a byproduct of the mining process. Filecoin is the incentive structure, while IPFS addresses and moves content.
  8. Advantageous Monetary Policy
    1. Limited Supply, with total set by the Filecoin token sale.
    2. Minting by block reward as in Bitcoin.
    3. Genesis allocation to fund creation, development, deployment, and reward creators
    4. Backed by a truly useful service: Demand for the storage service drives demand for the token
  9. Filecoin Pricing Advantages. Filecoin is priced by markets and exchanges, as any other crypto token. The Filecoin price floats above the price of storage: Miners list their storage prices denominated in Filecoin. As the network grows — gathering more storage and clients — the total amount of Filecoin remains limited, creating upward price pressures.

 

As a decentralized protocol, the data stored in the network and access to it cannot be controlled or exploited by a central entity, which improves robustness. At scale, information distributed across Filecoin miners will be stored nearer to users than is currently possible with monolithic centralized servers and large content distribution networks, making information retrieval much faster. Indexed data on Filecoin enables users to efficiently orchestrate and update massive datasets. Lastly, as an open-source project, the software itself can be examined, verified, and improved publicly, unlike most cloud storage and distribution platforms today. As Filecoin evolves and new capabilities are added, the intent is for the network to provide a platform for most, if not all, information storage and delivery needs across the internet.

Learn More About Our Most Recent Acquisition

FAQ about Idaho Country Mining Company (ICMC)

ICMC is a professional data company working on encrypted data archiving, and data mining.  It offers service to digital blockchain companies with bookkeeping and data storage. ICMC was set up in Idaho by Shenzhen DZD Digital Technology Ltd. and its key staff.

NAM is the abbreviation for North America Miner, which is a cryptocurrency released by ICMC through an ITO (Initial Token Offering). NAM is based on the ERC20 standard of Ethereum, according to which the amount of dividends accredited to investors will be in proportion to their share of tokens of the whole project.

ITO stands for Initial Token Offering. It is also referred to as Initial Coin Offering (ICO). With this process, you can digitize or tokenize your asset and make it publicly available through the internet.

This means you can start a business, company or project with any asset value. Via ITO, you generate digital coins or tokens which represent your asset. Consecutively, you can electronically transfer these coins or tokens.

Just like with crowdfunding, you can exchange or transfer your coins or tokens. The same way that stocks appear in a stock market, you can list them in an online exchange platform. This process is similar to an IPO, although it’s without limitations or hefty charges that usually apply to equity-based projects or assets.

The token is a representation of the physical asset or a part of the underlying project. As an issuer, you have the flexibility to configure it as an item with a face value although it can act as an asset on its own. That means it has its own privileges, like dividends, voting rights, and capital appreciation.

In addition, the tokens can act as a medium of exchange. They can be used to directly redeem goods or services from an involved merchant.

Among the most alluring aspects of tokens to upcoming investors is that their owners can transfer them on the secondary market without the involvement of a third party. In other terms, you don’t have to use a centralized agency when settling the transactions.

It is important to note that the traditional currency for cryptocurrencies is known as crypto-investing. Not until the other day, ITOs focused on investments through crypto coins, like ethers or bitcoin. However, investors can now virtually trade anything, crypto coins included, and also with any asset that can be digitized and quantified.

  • It is a progressive alternative to the traditional capital funding method.
  • It doesn’t encourage single investor in dominating the shareholder register where company policy can be influenced in one way.
  • ITOs provide access to investors from all over the world.
  • It is cost effective, encourages innovation and access to new or disruptive technologies.
  • It promotes diverse products, services and companies.
  • ITOs open the market to far-fetched e-commerce opportunities.
  • Unlike IPOs which are cost-prohibitive, ITOs utilize cost-effective listing process.
  • The acronym ITO stands for Initial Token Offering, while ICO stands for Initial Coin Offering. It is far more appropriate to talk about tokens rather than coins for projects that use the Ethereum blockchain, and create assets that aren’t actually a new cryptocurrency, but rather a tool that allows different functions, like burning tokens or other kinds of revenue share.
  • In all cases, it is preferable to talk about tokens, as the term carries a broader meaning, is more versatile, and better suits the different situations and scenarios that are behind most of today’s so-called ICOs.

Ethereum is a blockchain technology-based platform that offers decentralized online services. NAM tokens are released on Ethereum, a new platform for release of digital assets. As NAM meets the ERC20 standard, investors can enjoy various services offered by the Ethereum ecosystem, including e-wallet and the exchange.

The NAM project expects to offer dividends on a monthly basis to those who have bought NAM tokens, and therefore become a co-owner of the large-scale project. Our company expects to accredit dividends according to the smart contract as well as the share of tokens individuals own in the project.

Purchase of NAM tokens equates to investment in the mining business. There is no need for investors to worry about the cost of equipment any more, and meanwhile they are expected to make steady profits as NAM tokens appreciates.

A certain percentage of profits made through this project will be used for reinvestment on a regular basis, during which new miners will be purchased as a countermeasure towards Moore’s Trap. Furthermore, ICMC will continue analyzing cryptocurrency in depth until a reasonable decision is made on which kind of cryptocurrency is worth our investment.

QEBR is a global holding company with subsidiaries around the world. The Company has holdings in companies based in the US, China, and Hong Kong and equity in two operating companies, Big Data and Jihye, which focus on cryptocurrency mining as their principal business. 

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©2019 Virtual Medical International, Inc. (“QEBR”). All rights reserved​